Portland’s U.S. Outdoor Store Files For Bankruptcy

U.S. Outdoor Store, a landmark store in downtown Portland for decades, filed for bankruptcy and closed its downtown store. The retailer blamed fallout from COVID-19, civic unrest in Portland, shifts to online purchasing and a dispute with its lender. Amer Sports, The North Face and Volcom held the largest unsecured claims among vendors.

Nike Ranks First Again In Apparel In Brand Intimacy Survey

Nike for the fourth year in a row led MBLM’s Brand Intimacy 2020 Study, which is the largest study of brands based on emotions. The remaining brands in the top 10 for the apparel industry were Levi’s, Victoria’s Secret, The North Face, Under Armour, Adidas, Gap, American Eagle, Puma and Ralph Lauren.

Peloton’s Q4 Sales Vault 172 Percent

Peloton Interactive Inc. reported sales jumped 172 percent in the fourth quarter ended June 30, easily topping expectations. EBITDA on an adjusted basis also was well ahead of forecasts.

Zumiez Q2 Earnings Soar

Profits at Zumiez Inc. climbed 182 percent in the second quarter ended August 1 as sales grew 9.6 percent. Earnings were well above Wall Street’s targets.

Century 21 To Liquidate

Century 21, the New York department store chain, filed for bankruptcy and said it will close its stores after nearly 60 years in business. Adidas; Hanesbrands, the parent of Champion, Puma; and Nike all landed on the top-30 unsecured creditors list.

Academy Sports Sees Growth Well Beyond The Pandemic

Academy Sports’ IPO prospectus details the numerous steps Ken Hicks has put in place since taking over as CEO in May 2018 to drive steady improvement over the last few years and has now positioned the Texas-based chain for accelerated growth amid the pandemic. Hicks in a letter to shareholders in the prospectus, “We are at the beginning of an incredible journey and still have much to accomplish.”

Team Wendy To Be Acquired By Avon Rubber

Team Wendy, a Cleveland-based maker of athletic and military helmets, has agreed to a sale to UK-based Avon Rubber p.l.c., the parent of Avon Protection Systems, for a cash consideration of $130 million.