Timberland Elevates Sustainability Goals
Timberland announced a goal for its products to have a net positive impact on nature by 2030. The goal includes having all products designed for circularity and made from natural materials sourced from regenerative agriculture.
Lids Signs Its First NFL Player Endorsement
Lids has signed an endorsement deal with veteran Pro Bowl running back Melvin Gordon, who becomes the first NFL player to officially partner with the sports licensing retailer.
John Donahoe Sees COVID-19 Response Showcasing Nike’s Strengths
In his first shareholder letter since taking over as Nike’s CEO and president in January, John Donahoe wrote that COVID-19 “offered a stress-test” of its Consumer Direct Offense strategy while stating “Nike’s underlying strengths and resilience have become even more evident in this crisis.”
Moody’s Assigns A2 Rating To Adidas’ New Senior Unsecured Notes
Moody’s Investors Service has assigned an A2 rating to the proposed senior unsecured notes issued by Adidas AG, consisting of €500 million notes due 2024 and €500 million notes due 2035. Adidas’ current A2 long-term issuer rating and Prime-1 (P-1) short-term issuer rating are unaffected by the issuance of these notes. The outlook on Adidas is unchanged at stable.
J.C. Penney Sale Talks Reach ‘Stalemate,’ Raising Threat Of Liquidation
J.C. Penney’s discussions with potential acquirers of the company have hit a “stalemate” and the bankrupt retailer’s top lenders are considering making a “credit bid” to own the retailer as a stand-alone company.
Nike Ends Relationship With Neymar
Nike has parted ways with Brazilian star forward Neymar a decade and a half after signing the star striker as a 13-year-old prodigy.
16th Annual College Colors Day To Be Held September 4
Collegiate licensing leader CLC plans to hold the 16th annual College Colors Day this Friday, September 4. The holiday, created by CLC, encourages over 185 million fans to don the apparel of their favorite college and share their spirit via social media, using the hashtag #CollegeColorsDay.
Skirt Sports Acquired By Zooma Women’s Race Series
Zooma Women’s Race Series, known for their race medals and destination races, has acquired Skirt Sports, the originator of the running skirt.
Hibbett Sports Crushes Wall Street’s Q2 EPS Targets
Hibbett Sports Inc. reported adjusted earnings of $50.0 million, or $2.95 per share, well above Wall Street’s consensus estimate of $1.15. Comparable sales catapulted 79.2 percent.
JD Sports Becomes First Official Sleeve Sponsor For Leeds United
Leeds United entered into a new partnership agreement with sports fashion retailer JD Sports. The new agreement will see JD become its official sleeve sponsor for the 2020/21 Premier League campaign.
REI To Open Stores In Pigeon Forge, TN And Appleton, WI
REI Co-op will open new stores in Pigeon Forge, TN and Appleton, WI in September. The openings will mark REI’s fifth location in Tennessee and third in Wisconsin.
Lord & Taylor Closing All Locations
Lord & Taylor, which filed for bankruptcy on August 2, announced Thursday that all of its 38 remaining stores and website have begun liquidation sales. The retailer had said last week that it planned to keep 14 locations open.
UCLA Sues Under Armour For Ending $280 Million Sponsorship Deal
UCLA filed a lawsuit against Under Armour for ending the university’s $280 million sponsorship deal. The school is seeking more than $200 million in compensation.
Athleta’s Q2 Sales Climb 6 Percent
Athleta’s sales were up 6 percent in the second quarter as a surge in online sales of 74 offset a 45 percent decline in store sales, according to the quarterly report of its parent, Gap Inc. Comparable sales at Athleta were up 19 percent.
Aptean Acquires Innovative Systems
Aptean, a provider of enterprise software solutions, announced the acquisition of Innovative Systems, LLC, a provider of enterprise resource planning (ERP) software solutions and electronic data interchange (EDI) mapping and transaction support services to the apparel, footwear and accessories industries in North America.
