SGB Apparel

EXEC: Wall Street Analysts Downgrade Nike as Competitors Gain Heat

Nike’s move to slash its sales forecast for the year ahead resulted in downgrades from UBS, Stifel, JPMorgan, and Morgan Stanley. Some analysts cited opportunities for Adidas, Lululemon, Hoka, On, and other competitors to gain shelf space as Nike’s overreliance on lifestyle offerings and innovation struggles continue.

Original Penguin Enters Spain with First Flagship Store

Perry Ellis International, parent of the brand, said that the launch marks an expansion for the brand under its new Spanish license partner, Linea Magna Europa SL, an affiliate of Linea Magna which has grown the Original Penguin brand in Mexico since 2012.

Feat Clothing Secures New Majority Investor

2.0 Ventures, a private equity firm headquartered in Salt Lake City, acquired a majority stake in Feat Clothing, Inc.  Taylor Offer, who founded the California-based athleisure brand in 2014, will transition from his role as CEO to a position on the Board of Directors.

REI Adds Two Board Members

Patricia Lopez, a former executive in the beauty industry, and Doug Mack, former CEO of Fanatics, were elected to the company’s board of directors in May.

Omni Retail Enterprises Names CEO

Former Vitamin Shoppe CEO and Pier 1 Imports exec, Sharon M. Leite, will lead the revitalization of Omni’s retail, educational and health & wellness brands.