NRF Calls On Biden Administration To Eliminate China Tariffs To Ease Inflation
The National Retail Federation announced it is launching the second phase of a seven-figure advocacy campaign with broadcast, digital and out-of-home advertising, urging the Biden administration to repeal tariffs on goods from China to lower costs for businesses and consumers who are being severely impacted by inflation.
Gap, Inc. Launches New Credit Card Program
Gap Inc. launched a new suite of credit cards with Barclays US Consumer Bank to support its Old Navy, Gap, Banana Republic and Athleta banners.
Fanatics Collectibles and Topps Announce College Trading Cards Program
Fanatics Collectibles, the trading cards and collectibles division of Fanatics and Topps announced a comprehensive, officially licensed college student-athlete trading cards program.
Public Lands To Open Four More Locations
Public Lands, Dick’s Sporting Goods’ outdoor-themed concept, plans to open four stores in Framingham, MA; Huntington, NY; Kennesaw, GA; and Medford, OR.
Decathlon Expands U.S. Distribution Channels To Third-Party Retailers
Decathlon announced plans to expand distribution to outdoor, sporting goods and retail stores across the United States. The announcement comes as it attends the Outdoor Retailer trade show in Denver, CO for the first time this week.
Apparel Impact Institute Announces Lead Funders For $250M Fashion Climate Fund
Apparel Impact Institute (Aii) announced that Lululemon and H&M are the lead funders in its $250 million Fashion Climate Fund.
BSN Sports Acquires Team Gear
BSN Sports, a division of Varsity Brands, announced that it has acquired I.D. Clothing Company (dba Team Gear) based in Whippany, NJ.
SeaNSoul Opens Surf Shop In West Malibu
SeaNSoul, an online resale marketplace for outdoor gear and apparel, opened its first brick-and-mortar location in West Malibu, CA.
Quiksilver Appoints VP, Global Marketing
Quiksilver has named Bobby Gascon as VP, global marketing. He joins the company following 13 years at Vans where, most recently, he was senior director of global marketing, Action Sports
Nike Shutting Down Run Club App In China
Nike is deactivating its Run Club app in China. In a statement to Reuters, Nike said it plans to provide runners in China with an “enhanced and localized digital solution.”
Under Armour To Be Dropped From S&P 500 Stock Index
Under Armour will be deleted from the S&P 500 stock index before the start of trading June 21 and be added to the S&P MidCap 400, S&P Dow Jones said. The S&P 500 tracks the performance of 500 large companies listed on U.S. stock exchanges.
VF Corp. Debt Outlook Revised To Negative On Tax Ruling
S&P Global Ratings revised its debt ratings outlook on VF Corp. to negative from stable. The rating agency estimated VF will likely have to increase debt by more than $845 million to pay the assessed tax in order to appeal an unfavorable decision from the U.S. Tax Court regarding its post-acquisition restructuring of Timberland Co. in September 2011.
Kohl’s Debt Ratings Placed Under Review For Possible Downgrade
S&P Global Rating placed the debt ratings of Kohl’s under review with negative implications after the retailer announced that it entered into exclusive negotiations for a sale to Franchise Group, Inc.
Puma Adds Swimwear License
Puma and United Legwear & Apparel Co., LLC (ULAC) announced that they entered into a licensing agreement in North America for the production, sales, marketing, and distribution of Puma swimwear for men’s, women’s and kid’s.
Target Warns Of Profit Decline Over Inventory Imbalances
Target lowered its forecast for the second quarter as it plans to markdown merchandise, remove excess inventory and cancel orders in an effort to right-size its inventory levels.
