Nearly 600 workers at the Remington Arms gun factory in Ilion, NY have been furloughed, according to reports. The furloughs were announced last Thursday, a day before news arrived that Remington would be broken apart and sold to seven different companies as part of bankruptcy proceedings.
Author: SGB Media
Digital Agency Instrument Appoints Nike Lead
Instrument, based in Portland, OR, promoted Rocky Clarke-Puntney to oversee its Nike business as Nike group executive director.
Nike Nets Tax Break For Distribution Center in Ontario, CA
Nike will earn a tax break as part of a deal to open a large e-commerce warehouse in Ontario, CA, according to a report in the San Gabriel Valley Tribune.
Neiman Marcus Completes Chapter 11 Process
Neiman Marcus Holding Company, Inc. announced it has emerged from voluntary Chapter 11 protection, successfully completing its restructuring process.
Poshmark Prepares For IPO
Poshmark, the used clothing platform, has confidentially filed to go public.
Implus Appoints New Chief Information Officer
Implus LLC, the owner of a wide range of athletic, fitness and outdoor accessories, appointed Gwen Moilanen-Kollar as chief information officer. She was at Bed Bath & Beyond.
AI-Powered Fitness App Freeletics Secures $25 Million In Funding
Freeletics, the AI-powered fitness coaching app, announced the closing of its $25M Series B funding round.
Worldwide Wearables Market Forecast To Maintain Double-Digit Growth In 2020
Global shipments of wearable devices are expected to total 396.0 million units in 2020 according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.
Allbirds Raises $100 Million In Funding
Allbirds, the San Francisco-based casual footwear and sneaker maker, raised $100 million in financing in a funding round that valued the company at $1.7 billion, according to a report in the Wall Street Journal.
Primary Arms Hires Soft-Lines Merchandising Manager
Primary Arms Online hiring Beth Singletary as its soft-lines merchandising manager. This position covers all apparel and gear categories within its assortment.
Boating Community Applauds Legislation To Protect Small Businesses
The National Marine Manufacturers Association applauded the introduction of the Resources for Emergency Preparedness and Resilient Enterprises (PREPARE) Act.
Amazon Prime Day Set For October 13 And 14
Amazon said Monday that it will host its annual Prime Day sales event on October 13 and 14. Prime Day, which traditionally takes place in mid-July, had been postponed due to COVID-19.
Survey Finds Landlords And Retail Tenants Compromise To Emerge Stronger Post-COVID-19
With close to zero revenue coming in the doors for many brick & mortar retailers during COVID-19 stay-at-home orders, retailers and their landlords are working to address outstanding rent obligations, the National Retail Federation, and PJ Solomon said.
Academy Sports’ Debt Ratings Upgraded By S&P
The debt ratings of Academy Sports + Outdoors Inc. were raised by S&P Global Ratings as the retailer recently announced continued growth in the second quarter ended July and filed for a potential IPO.
Vista Outdoor Named Successful Bidder In Remington Ammunition Acquisition
Vista Outdoor Inc. announced that it has been named a successful bidder in the auction process conducted in connection with Remington Outdoor Company, Inc.’s (ROC’s) Chapter 11 bankruptcy cases pending in the U.S. Bankruptcy Court for the Northern District of Alabama.
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