Fanatics Commerce’s Debt Ratings Lowered on Weak Q2 Results
Moody’s Ratings downgraded Fanatics Commerce’s debt ratings as second-quarter results for the online retailer of licensed sports merchandise showed EBITDA and free cash flow remained negative.
Survey: SMB Retailers Optimistic on In-Store Holiday Shopping
The 5th Annual State of Small Business Survey by Verizon Business revealed that 52 percent of small and medium-sized businesses and retailers are gearing up for an in-store holiday season, an increase of 13 points from 2023.
Adidas x Mahomes Strategy Uniform Amplifies Partnership
The unveil of the Adidas x Mahomes Strategy uniform by Patrick Mahomes further amplifies the power of their partnership and continue to establish new ways to promote their combined brands.
BSN Sports and Varsity Spirit Parent Hit by Data Breach
Varsity Brands, the parent of BSN Sports and Varsity Spirit, disclosed that more than 65,000 individuals may have had their personal information stolen due to a data breach that occurred earlier this year.
Report: September Retail Sales Top Expectations, Led by Clothing and Footwear
U.S. retail sales increased a seasonally-adjusted 0.4 percent month-over-month in September, up from the unrevised 0.1 percent gain in August, according to the U.S. Department of Commerce. The performance was slightly ahead of the 0.3 percent the Dow Jones forecasted.
ICSC Holiday Survey Sees Consumers Spending the Most Since 2018
ICSC also released its forecast for the Holiday selling season based on results gathered in its Annual Holiday Shopping Intentions Survey. It indicates that retail sales are expected to grow from 3.0 percent to 3.5 percent.
EXEC: Nike Eyes Stronger Return to Outdoor Business with Renewed ACG Focus
Nike has tasked Angela Dong, Nike’s top executive in Greater China, with overseeing its outdoor sub-brand, All Conditions Gear (ACG), as Nike revisits its opportunity in the outdoor space to revive growth.
Needham Hires Tom Nikic as Apparel and Footwear Analyst
Needham & Co. has hired Tom Nikic, a veteran analyst in the active lifestyle space, as managing director, equity research, apparel & footwear.
TSG Consumer Partners Appoints Managing Director
TSG Consumer Partners announced the expansion of its portfolio operations group, TSG Vantage and appointed of Brian Crandall as managing director.
EXEC: Frasers Group Managing Director of Sport to Step Down
The parent company of Sports Direct, Everlast, and Slazenger, reported that Ger Wright will leave her role as managing director of Sport at the end of November. Wright will remain on the Group’s Board as a non-executive director.
REI Sets Opening of First Kentucky Store
The store, located in the Paddock Shops in Louisville, KY, with a footprint of approximately 31,100 square feet, will open on November 8. It offers online pickup in-store and at curbside and employs 50 people.
EvoShield to Supply UVA with Uniforms and Apparel for 2025 Season
EvoShield will manufacture uniforms for the University of Virginia’s baseball program, marking its first apparel contract with an NCAA Division I school. EvoShield will also create various apparel options for the Cavaliers coaches and staff to wear during team training and off-field.
Rural King Opens its First Store in Georgia
The store boasts a wide range of outdoor lifestyle and work brands, including Ariat, Browning, Carhartt, Columbia, Frogg Toggs, Henry Rifles, Huk Apparel, Keen Utility, Plano, Realtree, Remington, Under Armour, and Wolverine.
BOA and Primaloft Parent Launches Stock Buyback Program
Compass Diversified, owner of BOA, Primaloft, 5.11 Tactical, Velocity Outdoor and other active lifestyle brands, said its board authorized the repurchase of up to $100 million of stock.
EXEC: REI Selling Four Distribution Centers in Sale/Leaseback Plan
REI is seeking to monetize the value of the DCs through a triple-net (NNN) sale/leaseback transaction with an end of year 2024 Closing.
