Pentland Appoints Speedo Brand Director
Pentland Brands has named Kev McFadyen as global brand director for its Speedo brand. He joined the firm two years ago as the brand director for Berghaus, since then “he has successfully led [it] to deliver growth across both financial and brand metrics including the rapid transformation of the brand strategy that has led to the development of new product ranges and expansion into new markets”.
Nike To Layoff 700 At HQ By January
Nike will be laying off approximately 700 employees from its world headquarters in the Beaverton area, according to an October 29 letter the company sent to local and state officials.
Kingswood Capital Management Completes Acquisition Of MEC
Kingswood Capital Management, LP announced that it has completed its acquisition of substantially all of MEC’s assets through the company’s Creditors Arrangement Act. MEC is Canada’s largest outdoor chain with 21 stores.
The Association Of Golf Merchandisers Appoints Marketing Manager
The Association of Golf Merchandisers (AGM) announced the appointment of Jennifer Morton to the newly created position of marketing manager.
Emerald Holding Sees Sales Collapse On Cancelled Shows
Emerald Holding Inc. reported revenues of $8.5 million in the third quarter ended September 30 compared to revenues of $75.6 million for the third quarter of 2019, a decrease of 88.8 percent. The decrease primarily reflected a $68.0 million reduction from the cancellation of substantially all third-quarter events due to COVID-19 most notably ASD August, NY NOW August, CEDIA Expo, and Modern Day Marine.
Callaway Golf’s Debt Rating Outlook Lowered Following Topgolf Acquisition
Moody’s affirmed Callaway’s B1 CFR following the announcement of its plan to acquire acquisition but changed its outlook to negative. S&P placed all its debt ratings on Callaway on CreditWatch with negative implications.
Surf Expo To Hold In-Person Show In January
Surf Expo announced its upcoming January 6-8, 2021 show will take place in the West Concourse of the Orange County Convention Center, a shift from the North/South Hall where the show has been held previously.
NPD Study Predicts Strong Sales Gains For “New Holiday Period”
NPD’s annual Holiday Purchase Intentions study predicts sales increasing in the range of 4.3 to 5.1 percent for the “new holiday period”, beginning in mid-October with early promotions, running through mid-January with gift card redemption. The estimate also spans a broader view of NPD’s discretionary categories.
VF Corp. Appoints VP, Global Inclusion & Diversity
VF Corp. announced the appointment of Lauren Guthrie to the position of vice president, global inclusion & diversity (I&D).
Nike Partners With Lazada, Southeast Asia’s E-Comm Platform
Nike has partnered with Lazada, Southeast Asia’s e-commerce platform, to reach consumers across Indonesia, Malaysia, the Philippines, Singapore and Thailand through the Nike LazMall Flagship Store.
Centric Brands Appoints Chairman
Centric Brands LLC said Marc Schneider has been appointed chairman of its Board of Directors.
Former Nike Digital VP Joins Postmates
Mike Buckley, a former VP at Nike Digital, has joined Postmates, the delivery platform, as SVP of Business.
Lululemon Athletica Announces Leadership Appointments
Lululemon Athletica Inc. announced several leadership appointments, including company veteran Celeste Burgoyne becoming the first executive to serve at the president level in her role leading the Americas and Global Guest Innovation teams. The company also announced the hire of longtime Adidas executive André Maestrini to serve as EVP, International and lead the company’s international expansion.
Newell’s Outdoor & Rec Segment Delivers Q3 Revenue Gain Of 8 Percent
Newell Brands’ Outdoor & Recreation segment generated net sales of $383 million compared with $356 million in the prior-year period, reflecting a gain of 7.6 percent. The gain reflects a core sales increase of 8.1 percent and the impact of unfavorable foreign exchange.
Under Armour Enters Agreement To Sell MyFitnessPal Platform
Under Armour Inc. announced that it has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners. Under Armour also said it will discontinue its Endomondo platform’s operations at the end of 2020.
