Amazon To Hire 3,500 In U.S. Expansion
Amazon announced plans to add 3,500 tech and corporate jobs across a half-dozen U.S. cities. The cities include Dallas, Detroit, Denver, New York, Phoenix, and San Diego.
Report: Academy Sports Confidentially Files For IPO
Academy Sports + Outdoors, acquired by Kohlberg Kravis Roberts & Co (KKR) in 2011, has confidentially filed paperwork for an initial public offering, according to a report from Bloomberg.
Walmart’s U.S. Comps Climb 9.3 Percent In Q2
Walmart reported total revenue in the second quarter was $137.7 billion, an increase of $7.4 billion, or 5.6 percent. Excluding currency impacts, total revenue would have increased 7.5 percent to reach $140.2 billion. Walmart U.S. comp sales climbed 9.3 percent, led by strength in general merchandise and food. Walmart U.S. e-commerce sales grew 97 percent with strong results across all channels.
Kohl’s Q2 Results Top Wall Street’s Targets
Kohl’s reported a loss in the second quarter on a 23.1 percent revenue decline but both exceeded Wall Street’s consensus targets. The retailer also noted that disciplined management of expenses and inventory resulted in positive operating cash flow in the period. Michelle Gass, Kohl’s CEO, said, “We are well-positioned to capitalize on evolving customer behaviors and the retail industry disruption, which we believe will drive long-term growth and increased markethare.”
Mint Green Group To Distribute Nike Golf And Tennis In Canada
The Mint Green Group announced an exclusive distribution partnership with Nike Canada in golf and tennis. The partnership will enable increased investment in these categories.
Li Ning Sees Modest Sales Decline In First Half
Li Ning reported profits on an adjusted basis grew in the first half while revenues only showed a slight decline despite the impact of COVID-19.
The Running Event Cancelled
Diversified Communications, organizer of The Running Event (TRE), announced it has canceled TRE, scheduled to take place December 1-3 in Austin, TX, due to health concerns stemming from COVID-19.
Puma Appoints General Manager For UK, Ireland And Benelux
Puma appointed Ben Hughes as general manager for the United Kingdom, Ireland and Benelux (UKIB) with immediate effect. In this role, Hughes takes over from Paul Spencer, who has assumed the position as Puma’s regional sales director Europe.
Callaway Golf’s Debt Ratings Lowered
Moody’s Investors Service downgraded Callaway Golf Company’s Corporate Family Rating (CFR) to B1 from Ba3 and Probability of Default Rating to B1-PD from Ba3-PD.
Paragon Sports Ends Sale Of Animal Fur Products
Paragon Sports, the New York sporting goods institution, announced that after re-evaluating shoppers’ needs, it will no longer sell apparel made with animal fur starting in the winter of 2020.
Simon, Authentic Brands To Acquire Lucky Brand
Simon Property Group and Authentic Brands Group (ABG) have teamed up to acquire bankrupt denim maker Lucky Brand in bankruptcy proceedings for $140.1 million.
Foot Locker Opens Flagship In Singapore
Foot Locker Inc. has opened its largest store in Singapore. Located in Orchard Gateway @Emerald, the five-story space with retail over three-levels combines product, in-store presentations and customer experiences featuring a multi-branded basketball collection and a half-court in B2.
Cascade Designs Engages Sales Team To Serve Canadian Territories
Cascade Designs retained Sasso Vertical Sales to represent its brands in British Columbia, Yukon Territory and Northwest Territories.
SquadLocker Appoints VP Of Operations
SquadLocker, the uniform and custom team gear provider, appointed Jim Day as vice president operations to support the company’s growth and expansion.
He was previously vice president of global supply chain at ’47, a sports lifestyle brand.
GymShark Secures Equity Funding
GymShark, the U.K.-based fitness apparel start-up, announced it will enter a strategic partnership with General Atlantic, a leading global growth equity firm, in its first-ever fundraise, valuing the business at over £1 billion. In conjunction with General Atlantic’s investment, Founder Ben Francis has increased his stake in the company to over 70 percent.
