Adidas Terrex Opens First U.S. Pop-Up In Portland
Last week, Adidas Terrex commemorated the launch of its first U.S. pop-up in the Pearl District of downtown Portland, OR, with a grand opening.
Anta Exploring Amer Sports IPO
Anta Sports Products, Ltd., the Chinese sports equipment corporation headquartered in Jinjiang, is reportedly holding preliminary talks with investment banks for an IPO of Amer Sports that could raise about U.S.$1 billion or more, according to Bloomberg.
TopGolf Callaway’s Debt Rating Outlook Upgraded
Moody’s Investors Service affirmed Topgolf Callaway Brands Corp.’s debt ratings and changed its outlook on the company to stable from negative due to improving results.
Academy Sports’ Q3 Comps Slide 7.2 Percent
Academy Sports and Outdoors, Inc. reported earnings on an adjusted basis declined slightly in the third quarter ended October 29 against difficult year-ago comparisons but topped Wall Street expectations. Same-store sales were down 7.2 percent with overall sales coming in below analyst targets. Sales were up 30.5 percent versus the pre-pandemic 2019 third quarter.
Cytech Acquires Pasasport
Italian manufacturer of arm pads and inserts for cycling clothing, Cytech, reported it acquired a majority of shares in Pasaport, a manufacturer of gloves and accessories.
Fanatics Reaches $31 Billion Valuation After $700 Million Investment Round
According to the Wall Street Journal, Fanatics, Inc. raised about $700 million from a group of investors, supporting a valuation of $31 billion.
Icebreaker Names Senior Manager, U.S. Wholesale
Icebreaker hired Jamie Baker as senior manager of U.S. Wholesale, effective immediately.
Brookfield Buys Label Maker Trimco
According to a Bloomberg report, Affinity Equity Partners sold Hong Kong-based clothing label maker Trimco Group to Brookfield Asset Management. The deal values Trimco, which counts Nike as one of its biggest clients, between $800 million and $900 million.
The Buckle Declares Special Cash Dividend, Adds New Board Member
The Buckle, Inc.’s Board of Directors authorized a $2.65 per share special cash dividend and a 35 cents per share quarterly dividend. It also elected Shruti S. Joshi to its Board of Directors.
Sports Basement Opens Twelfth Store
Sports Basement reported it opened its newest store in Fountain Valley CA in the former Fry building. Sports Basement has eleven other locations in Northern California. The new store is the retailer’s first in Southern California.
Steve Rendle Retires As VF Corp.’s CEO
VF Corp. reported Chairman, President and CEO Steve Rendle is retiring. Benno Dorer, a lead independent director of the VF Board, was named interim president and CEO, effective immediately. VF also again lowered its revenue and earnings expectations for the second half of its fiscal year.
Rossignol Group Opens Multi-Brand Mountain Sports Store In Quebec
The Rossignol Group opened a Start Gate concept store in Bromont, Quebec. The multi-brand, multi-season store is managed in partnership with Sports Bromont, one of the Group’s regional retail partners.
U.S. Consumer Confidence Drops To Lowest Level Since July
The Conference Board Consumer Confidence Index decreased in November after losing ground in October. The Index now stands at 100.2 (1985=100), down from 102.2 in October.
Everlane Secures $25 Million Loan
Everlane Inc. secured a $25 million term loan from Gordon Brothers. The loan is secured by Everlane’s working capital assets.
Athleta Opens Fourth Store In New York City
Athleta, a Gap, Inc. brand, opened its fourth store in Manhattan’s SoHo neighborhood. The 5,000-square-foot space at 594 Broadway is the brand’s 35th new store opening in 2022.
