VF Corp’s Debt Ratings Lowered
Moody’s Investors Service downgraded the debt ratings of VF Corp. due to the company’s currently high leverage resulting from underperformance in its largest and most profitable brand, Vans, as well as large customer inventory destocking at Dickies, a slower-than-expected recovery in China, and elevated inventory levels that are leading to higher promotional sales activity and reduced margins.
Pactimo Names Director Of Custom Sales
Denver, CO-based cycling apparel brand Pactimo hired Robert Allen as director of custom sales.
USA Triathlon Foundation Hires New Chair, Officers
The USA Triathlon Foundation hired Alex Egan as Chair of its Board of Trustees following the Board’s 2022 officer elections. The organization also named three officers.
Blain’s Named One Of America’s Best Employers For Fifth Year
Forbes magazine named Blain’s Farm & Fleet one of “America’s Best Midsize Employers” for the fifth year in a row. In 2023, Blain’s Farm & Fleet ranked as the #1 Wisconsin-based retail and wholesale company.
Penn Entertainment Completes Acquisition Of Barstool Sports
Penn Entertainment, Inc. completed its previously announced acquisition of Barstool Sports, Inc. after securing a three percent stake in Barstool Sports in February 2020. Penn realized the remaining interest in Barstool Sports for approximately $388 million.
Fila Holdings Raises Dividend Payout Ratio For Fifth Consecutive Year
Fila Holdings has raised its total annual dividend payout ratio for a fifth consecutive year, as the company approved during a recent board meeting an annual dividend payment of 45.07 billion Korean won, or 750 won per share.
Olympia Sports Intellectual Property Sold At Auction
The intellectual property and related assets of Olympia Sports, including the trademarks for Olympia Sports, Clever Training and Surf Outfitter, were sold for $180,000 to 54 Glen Cove Realty, LLC at an auction run by Hilco Streambank.
Fleet Feet Franchisee Opens Sixth Store In Washington State
Fleet Feet opened a store in Richland, WA, operated by Julie and Wade Pannell, who own five Fleet Feet stores in Washington state, including Bonney Lake, Spokane, Spokane North, Spokane Valley, and Tacoma.
Hang Ten Brand Heads Back To European Market With New Partner
Hang Ten is back on the European licensing scene, having appointed Plus Licens as its European licensing agent.
The RealReal Announces Layoffs, Store Closings
In a regulatory filing, the RealReal, the luxury consignment website, said it plans to lay off seven percent of its workers and close two flagship stores, two neighborhood stores and two consignment offices as part of a cost-savings plan.
UNC Charlotte Re-Ups With Nike And BSN Sports
The University of North Carolina at Charlotte (UNC) extended its partnership with Nike and BSN Sports. BSN Sports remains the official apparel and equipment provider to the 49ers’ athletic program while outfitting the University’s athletes, coaches and staff in Nike product.
The Lycra Company Appoints Chief Legal Officer
The Lycra Company hired Cathy Spicer as chief legal officer, having, most recently, worked as chief legal officer and corporate secretary of Tailored Brands, Inc., which includes retailers Men’s Warehouse and Jos. A. Bank.
Gymshark Names Creative Director, Lifting
Gymshark hired fitness influencer and bodybuilder David Laid as creative director for the company’s lifting category.
SportChek Sees Slight Q4 Sales Decline, Helly Hansen Climbs Double-Digits
Canadian Tire Corporation, Ltd. reported same-store sales at its SportChek segment were down 1.7 percent in the fourth quarter while revenues of Helly Hansen grew 20.6 percent.
Outdoor Research Promotes Three Team Leaders To Senior Positions
Outdoor Research promoted Katarzyna Schoewe to vice president Design and Product Innovation, Chris King to vice president Brand Creative and Alex Lauver to senior director of Materials Innovation and Sustainability.
