Yue Yuen Industrial (Holdings) Ltd. reported sales in June reached $724.6 million against $810.5 million, representing a decline of 10.6 percent.
Author: SGB Media
EVent Fabrics Acquired By Hong Kong Company
EVent Fabrics, a developer waterproof apparel with air-permeable membrane technology, has been acquired by Performax Pro, Limited, of Hong Kong, who assumed full ownership of the eVent Fabrics brand for an undisclosed sum. The seller was Parker Performance Materials which has owned the eVent brand since 2017.
Retailers Say Credit Insurance Plan Could Increase Liquidity During Pandemic Downturn
The National Retail Federation welcomed a report released this week calling for a federal backstop for trade credit insurance, saying the proposal could help provide liquidity badly needed by retailers as they recover from the recession brought on by the coronavirus pandemic.
NRF Delays NYC Big Show Until June 2021, Adds January Virtual Event
The National Retail Federation announced its annual exposition and conference will take place in-person at the Jacob Javits Convention Center in New York City June 6-8, 2021. In addition, NRF is hosting a virtual event January 12-14, 19 and 21-22, 2021. Both events will feature the theme “Forward Together.”
Venum To Replace Reebok As UFC Partner
UFC, the mixed martial arts organization, announced that Venum, the maker of combat sports apparel and accessories, will become UFC’s new exclusive global outfitting and apparel partner starting in 2021. The deal will take effect in April 2021 after the current deal with Reebok expires.
Peloton Eyes Growth Well Beyond COVID-19
During a Barron’s Investing In Tech conversation, Peloton CFO Jill Woodworth discussed the expanding total addressable market for at-home fitness, the brand’s pending move into lower-priced bikes, challenges presented by COVID-19 and its controversial holiday campaign.
Aisle Talk Week Of July 6, 2020
The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of July 6, 2020 covered in the SGB Updates — delivered to your inbox every business day. Photo courtesy Reuters © 2013.
NFHS Director Concerned About High School Sports Cuts
Hearing high schools are facing budget cuts ranging from 20 percent to 50 percent, Karissa Niehoff, Executive Director at the National Federation of State High School Associations (NFHS), said in an Aspen Institute webinar she is “very worried” a wide range of high school sports programs will be eliminated as a result of COVID-19.
VR Fitness Developer FitXR Secures Funding
FitXR, a VR fitness company based in London, has secured $6.3 million in investment funding, led by Hiro Capital, with continued support from U.S.-based BoostVC, Maveron and TenOneTen Ventures, together with an additional $1.2 million in the form of an innovation loan, from Innovate UK.
Mindbody Announces New Leadership Appointments
Mindbody, the technology platform for the wellness industry, announced that the company’s Co-Founder, Rick Stollmeyer, is transitioning from the role of chief executive officer to executive chair and that the Mindbody Board of Directors has appointed current President Josh McCarter to CEO effective August 1.
Everest Appoints Chief Marketing Officer
Everest.com, the online marketplace for the shooting sports industry, announced that Kristi Heuring has been appointed to the role of chief marketing officer. Heuring joins the Everest team after senior marketing roles with Aguila Ammunition and Aimpoint, Inc.
AAFA: Lack Of Trade Credit Insurance Could Hinder Economy Restart
The American Apparel and Footwear Association in a statement urged federal leaders to support credit insurance for businesses to avoid hindering recovery efforts. The organization cited a new report published by economists Dr. Robert Litan and Dr. Yong Xu highlights on the need for a government-sponsored backstop to support trade credit insurance (TCI).
J.C.Penney Seeks More Time To Negotiate With Lenders
J.C.Penney submitted its business plan to lenders, but is asking Texas bankruptcy court for more time to continue negotiations with lenders on a restructuring plan.
Delta Apparel To Report Sharp Sales Decline For Fiscal Q3
Delta Apparel, Inc. said it expects sales to drop 39.6 percent in the third quarter ended June 27, but noted that its business strengthened over the last two months of the period. DTG2Go’s preliminary sales grew 30 percent over prior year and Salt Life Group’s delivered June sales growth of 7 percent over the prior year.
Big 5 Sees Robust Q2 Profit Turnaround Despite Comps Decline
Big 5 Sporting Goods released upbeat preliminary results for the fiscal second quarter ended June 28. The company said it expects earnings per share of 52 cents to 54 cents for the quarter, including a benefit of 15 cents related to rent abatements and litigation recovery, compared with breakeven EPS a year ago.
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