New Balance Officially Opens Methuen Factory
New Balance, on Monday, officially opened its new athletic footwear factory in Methuen, MA. The 80,000-square-foot facility, which underwent a $20 million renovation, began production in January 2022.
Boardriders’ Debt Ratings Downgraded
Moody’s Investors Service downgraded Boardriders, Inc.’s debt ratings due to continued cash outflows in part driven by investments to support its business transformation, weak credit metrics and near-term debt maturities.
Gildan Inks Green Credit Agreement
Gildan Activewear has amended and restated its $1 billion, 5-year revolving credit facility to incorporate sustainability-linked terms that adjust the borrowing costs based on the company’s performance on ESG goals.
Academy Sports’ Q4 Comps Expand 13 Percent
Academy Sports + Outdoors reported comparable stores jumped 13.1 percent in the fourth quarter and 18.9 percent in the year ended January 29. Adjusted earnings in the quarter grew 40.9 percent, exceeding Wall Street targets. Academy predicted sales in the current year would decline 1.6 percent at the mid-point of its range but be up 38.0 percent versus the pre-pandemic 2019 period.
Solo Brands Sees Sales Surge In Fourth Quarter
Solo Brands, Inc. reported sale surged 164 percent in the fourth quater and 202.6 percent in the year.
NPD Tracker: Retail Continues To See Spending On Activities Rises
U.S. consumers have started to spend on in-person experiences again, but the pull-back on general merchandise retail spending that is expected to coincide with it has not yet materialized. Experiential spending reached 91 percent of 2019 levels, as of the end of 2021, but general merchandise retail spending remained elevated at 19 percent above pre-pandemic levels, according to The NPD Group.
Fanatics Partners With WWE
The WWE signed a long-term merchandising deal with Fanatics. The deal includes official WWE NFTs, offered through Fanatics’ Candy Digital division, trading cards, which will operate through Topps, which Fanatics acquired from former Disney CEO Michael Eisner earlier in 2022. It also includes physical and digital licensed merchandise, with Fanatics launching a WWE shop this summer.
Delta Apparel Launches ‘On-Demand’ Digital First Solution
Delta Apparel, Inc. announced the expansion of its digital print business using newly installed digital print technology in collaboration with Fanatics.
Victoria’s Secret Invests In California Swimwear Brand Frankies Bikinis
Victoria’s Secret invested $18 million for a minority stake in Venice, CA beachwear brand Frankies Bikinis.
Dyrt Report: New Campers Are Increasingly More Diverse
The Dyrt, an app for camping, found that 40 percent of the people who went camping for the first time in 2021 identified as Black, Indigenous, and People of Color, up from just 23 percent in 2018.
U.S. Golf Rounds Played Climb 13 Percent In February
According to Golf Datatech, U.S. rounds of golf played rose 13 percent in February 2022 compared to February 2021.
Bryant Estate Reaches New Deal With Nike On Kobe Bryant Shoes
Kobe Bryant’s estate has reached a new long-term contract with Nike to continue producing both footwear and apparel from Bryant’s Zoom Kobe series, Nike and Vanessa Bryant announced.
Evo Announces Appointments To Executive Team
Evo, the online retailer of outdoor gear and fashion apparel based in Seattle, WA, announced the addition of Xandy Anderson and the promotion of Ben Wallace.
Patagonia And REI To Boycott Outdoor Retailer Show Upon Return To Utah
Patagonia and REI issued statements that said the companies would not attend Outdoor Retailer when it returns to Salt Lake City in 2023.
Foot Locker Sets Goal To Achieve Net Zero Greenhouse Gas Emissions By 2050
Foot Locker, Inc. announced its ambition to achieve net-zero GHG emissions by 2050 or sooner to align with the climate scientists recommendations to transition toward a net-zero state.
