Nike to Replace Under Armour as Wichita State Sponsor
In partnership with BSN Sports, Nike signed a five-year agreement to provide on-field and training gear for 16 varsity sports, beginning July 1, 2025.
Coal Headwear Names Sales & Marketing Manager
Mike LeBlanc will “modernize the brand’s marketing approach, expand sales channels and elevate Coal’s presence in the global headwear market.”
NuOrder by Lightspeed Appoints New Head of Revenue
Chris Akrimi, most recently, was the CEO of The Layer, a tech company that “transforms commerce data through AI. ” There, he focused on positioning the company at the “forefront of AI-driven product data management.”
Footasylum Secures Funding to Drive Expansion
The company secured a £35 million ($46 mm) revolving credit line from HSBC to support expansion and sustainability initiatives, and set a goal to achieve carbon net zero for Scope 1 and 2 emissions by 2030 and Scope 3 by 2040.
JCPenney Bogged Down by Soft Traffic in Q2
The retailerr eported a net loss of $96 million in the second quarter, which ended August 3, as same-store sales declined 7.7 percent. The loss compares with earnings of $19 million a year ago. Net sales declined 8.9 percent to $1.53 billion from $1.68 billion.
Adidas’ UK Sales Fall 9 Percent in 2023
Companywide, Adidas’ sales in 2023 declined 5 percent to €21.4 billion in Euro terms with flat currency-neutral revenues. The discontinuation of the Yeezy business represented a drag of around €500 million on the year-over-year comparison during 2023.
EXEC: Outdoor Industry Association Partners With Switchback Trade Show
OIA ended its 30-year partnership with Outdoor Retailer trade show this past July and will now support a twice-annual outdoor trade show. The year-round partnership will debut at the inaugural Switchback Spring in Nashville, TN from June 16 to 18, 2025.
Long-Time Nike Board Member Douglas Houser Passes Away
Douglas Houser, an attorney who incorporated Nike and served on the company’s Board of Directors for 50 years, passed away at the age of 89.
Mytheresa to Acquire Yoox Net-a-Porter from Richemont
Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments. The transaction will create a multi-brand digital group. The closing of transaction is expected to be in H1 2025.
S&S Activewear Completes Acquisition of Alphabroder
S&S Activewear completed the purchase of Alphabroder, uniting two branded apparel distributors to support customers and suppliers across corporate and consumer markets.
Stussy to Open New York City Flagship
The 5,600-square-foot space will open at 50 Prince Street. The location was formerly McNally Jackson, an independent bookseller with five New York locations.
On Brand to Open First Australian Store
The 390-square-meter flagship store draws inspiration from Melbourne’s “urban landscape,” is is the company’s 42nd globally.
Orvis Sets Layoffs and Store Closures; Discontinues Catalog
The 112 employees affected by the layoffs represent 8 percent of Orvis’ workforce. In the U.S., Orvis operates 70 retail stores and 10 outlets. In the UK, the company operates 18 retail stores and one outlet. The company did not disclose what store would be affected by the closures.
EXEC: Vista Inks Deals to Sell Revelyst and The Kinetic Group Separately
Vista Outdoor Inc. entered into a definitive agreement to sell its Revelyst outdoor segment to funds managed by Strategic Value Partners and amended its merger agreement with Czechoslovak Group (CSG) to acquire The Kinetic Group ammunition-related segment.
The North Face Expands Resale Program
The North Face announced that it has expanded its second-hand program, Renewed. Customers can now return used TNF gear online and in-store for monetary credit.