Boardriders, Inc.’s Debt Ratings Upgrade Report Reveals ABG Deal Priced At $1.25 Billion
Moody’s Investors Service placed Boardriders, Inc.’s debt ratings on review for upgrade following the announcement that Authentic Brands Group (ABG) has made a binding offer to acquire the company. The report revealed the purchase price is approximately $1.25 billion.
Vista Outdoor To Close Bell/Giro HQ As Outdoor Businesses Merge; Appoints Sporting Products CEO
In a regulatory filing, Vista Outdoor announced an over $50 million cost reduction and earnings improvement program, including closing Bell/Giro headquarters in Scotts Valley, CA, spending cuts, EBIT improvements, and headcount reductions across brands and corporate teams. Jason Vanderbrink was promoted to CEO of Sporting Products.
USTA Launches USTA Connect
The U.S. Tennis Association (USTA) launched USTA Connect, an initiative to connect key members of the U.S. tennis industry to increase industry collaboration and provide insights and services.
Boot Barn’s COO To Retire
Boot Barn Holdings, Inc. reported that Gregory Hackman, executive vice president and chief operating officer, plans to retire in June. He will continue in his position until then and transition his responsibilities to other company executives.
Topgolf Callaway Brands Reports New Hires And Promotions
Topgolf Callaway Brands Corp., following its recent Q4 and FY 2022 earnings report, announced several executive promotions and new hires, reflecting “the increased scope and scale of responsibilities for these leaders to support the company’s long-term growth.”
Authentic Brands Group Makes Binding Offer To Acquire Boardriders
Authentic Brands Group reported it entered a period of exclusivity and made a binding offer to purchase Boardriders, the parent of Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper, and Honolua. Boardrider is owned and managed by Oaktree Capital Management, L.P. Terms were not disclosed.
EXEC: Is Pickleball Losing Its Pandemic Bump?
Awareness of pickleball in the U.S. has increased by 33 percent since May 2022, and 17 percent of U.S. adults have reported trying pickleball, according to the latest polling data from CivicScience; however, the research firm found that what appeared to be a COVID-related boom in popularity seems to have faltered as consumers experience the sport and decide if it is right or not for them.
Nike Faces Shareholder Proposal On Worker Conditions
In a shareholder proposal released Thursday, activist shareholder platform Tulipshare requested a report from Nike on whether its policies effectively address its stated equity goals and human rights commitments.
Topgolf Callaway Adds Board Member
Topgolf Callaway Brands Corp. plans to add C. Matthew Turney, chief financial Officer of Dundon Capital Partners, to its Board of Directors.
True Religion Expanding Into China With New Retail Partner
True Religion is expanding into China with partner Aurorae Group, owner of Evisu Group. Plans are underway to open a mix of 65 freestanding stores and shop-in-shops by 2026, growing to a total of 108 by 2028.
AAFA/FLA Renew Pact Against Migrant Forced Labor
The American Apparel & Footwear Association (AAFA) and the Fair Labor Association (FLA) re-launched and enhanced the AAFA/FLA Apparel & Footwear Industry Commitment to Responsible Recruitment.
Carhartt Recalls Work Pants Sold At Dick’s Sporting Goods
About 32,505 Carhartt men’s Force Relaxed 5 Pocket work pants sold exclusively at Dick’s Sporting Goods were recalled because the elastic drawstring hem near the ankle of the pant could create an extended loop, posing a trip-and-fall hazard. No incidents or injuries were reported.
The Athlete’s Foot Hires Lead Merchandiser And Buyer
The Athlete’s Foot hired Beth Greenfield as its lead merchandiser and buyer. Greenfield has over 25 years of experience in retail, buying and merchandising, including having worked with Champion, Puma, Foot Locker, and Citi Trends.
Under Armour Names Steph Curry President of Curry Brand in Extended Partnership
Under Armour Inc. has extended and expanded its partnership with Golden State Warriors point guard and four-time NBA Champion Stephen Curry in a deal that extends beyond his retirement. As part of the new terms, Curry becomes president of the Curry Brand.
Target’s Debt Ratings Outlook Lowered On Subpar Q4 Results
Moody’s Investors Service changed the outlook for Target Corporation to stable from positive due to the discounter’s below-plan fourth-quarter results and deteriorating credit metrics.
