SGB Apparel

Gildan to Close Salisbury Factory

Gildan Activewear plans to close its factory on Heilig Road in the Charlotte, NC, suburb of Salisbury, affecting 258 employees, according to a WARN notice first reported by the Salisbury Post.

Fanatics’ Debt Ratings Outlook Downgraded

S&P Global Ratings revised its debt ratings outlook on Fanatics Holdings, Inc. after the sports fan retailing giant reported meaningful margin deterioration through the first half of fiscal 2023 amid slowing consumer demand and cost pressures partly tied to strategic investments. Fanatics Commerce’s sales were approximately flat in the second quarter while Lids “experienced top line and bottom line pressures.”

Signa Sports’ Largest Shareholder Terminates Equity Commitment Letter

Signa Sports United N.V., which in early October announced plans to delist its shares from the NYSE, said it had received a termination notice concerning the unconditional Equity Commitment Letter from Signa Holding GmbH, an affiliate of the company’s largest shareholder Signa International Sports Holding GmbH.

SFIA Launches Super Regionals Series

The Sports & Fitness Industry Association is launching a Super Regional Series in November, offering members, partners and industry leaders the opportunity to come together to discuss business insights and topics driving today’s sporting goods and fitness environment.

Asics Names New President and CEO for North America

Koichiro Kodama will return to Asics North America as president and CEO, effective immediately. He was CEO of Asics North America from February 2019 until December 2020. He replaces Richard Sullivan, president and CEO of the North American business since January 2022.

REI Lays Off Nearly 275 Retail Employees

REI Co-op is laying off about 275 retail employees, roughly 2 percent of its in-store workforce, as the retailer implements updates to its store operations system and labor structure.

Consumer Sentiment Slides in October

The University of Michigan’s preliminary Index of Consumer Sentiment for October declined 7.5 percent from month-over-month in September to 63 from 68.1 and below the 67.4 reading that analysts had expected.