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.
Wolverine’s Debt Ratings Outlook Downgraded To Negative
Moody’s Investors Service changed Wolverine World Wide, Inc.’s debt-ratings outlook to negative from stable. The change in outlook to negative from stable reflects the risk that leverage may remain elevated for a prolonged period given the more promotional retail environment, lower consumer discretionary spending, and unfavorable foreign currency trends.
Callaway Golf Extends Partnership With FCG Tour
Callaway Golf extended its sponsorship with the Future Champions Golf (FCG) Tour for its 2023 tournament program.
Urban Outfitters President Exits
Urban Outfitters, Inc. reported that Francis Pierrel, president, Urban Outfitters Group, had left the company.
Salt Life To Open New Doors
Delta Apparel, Inc. reported plans to open four Salt Life stores in early 2023. In Florida, Salt Life Pembroke Pines will open in January 2023, with Salt Life Pompano Beach and Salt Life Viera following shortly after that. In New Jersey, Salt Life Long Branch will open in the early spring of 2023.
ICSC Report: 78 Percent Of Consumers Shopped Thanksgiving Holiday Weekend
According to the ICSC Post-Thanksgiving Weekend Report, 75 percent of U.S. adults, 201.5 million, shopped or spent money during the five days beginning on Thanksgiving and ending Cyber Monday.
Record 196.7 Million Consumers Shop Over Thanksgiving Holiday Weekend
A record 196.7 million Americans shopped in stores and online during the five-day holiday shopping period from Thanksgiving Day through Cyber Monday, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.
Dick’s Sporting Goods Names EVP Of Stores
Dick’s Sporting Goods reported it hired Ray Sliva as executive vice president, stores, effective January 3, 2023. Most recently, Sliva was as Best Buy’s chief people officer.
