Nike has signed Norwegian striker Ada Hegerberg to a 10-year endorsement deal. The 24 years-old, already the UEFA Champions League career goals leader, had been with Puma.
Author: SGB Media
Vail Resorts CEO To Donate $11.7 Million
Vail Resorts, Inc. announced that Chairman and CEO Rob Katz has exercised stock appreciation rights (SARs), that were set to expire in 2021, and will be making a charitable donation of 100 percent of the proceeds received. Katz plans to make immediate grants to support COVID-19 efforts, racial justice reform and programs for urban youth.
May M&A Roundup: Has Market Hit Rock Bottom?
May was another slow month for M&A in the active-lifestyle marketplace with only a few deals announced and one high-profile acquisition formally abandoned at the finish line. Now that struggling businesses are seeking a lifeline and aggressive buyers are eyeing distressed assets, was this the bottom?
Active Industry Steps Up With Donations To Racial Justice Causes
Peloton, Puma, Lululemon and a number of other brands in the active lifestyle space in recent days have announced financial contributions to address racial inequity in the wake of George Floyd’s death that has led to protests across the country.
24 Hour Fitness’ Debt Downgraded On Missed Interest Payments
S&P Global Ratings lowered its debt rating on 24 Hour Fitness Worldwide Inc. after the fitness chain did not make its June 1 interest payment on its senior notes due 2022.
House Transportation Bill Proposes Major Increases For Federal Bike Programs
PeopleForBikes said a new bill has been released by the U.S. House Transportation and Infrastructure Committee that would significantly increase federal funding for bikes.
Isbjörn Of Sweden Launches Webshop In U.S. And Canada
Scandinavia’s sustainable outdoor kidswear brand, Isbjörn of Sweden, is opening a webshop in the U.S. and Canada this month. This is the first time North American customers have been able to purchase Isbjörn products stateside.
Crocs Announces New European Distribution Center
Crocs announced that construction has begun on its largest distribution center in Europe to be located in Dordrecht, the Netherlands.
Vail Resorts Expects Boost From Outdoor’s Appeal Amid Pandemic
Vail Resorts plans to reopen its North American resorts for summer activities in late June or early July after being forced to close its 34 ski areas on March 14 due to COVID-19. On its Q320 conference call, Robert Katz, CEO, said he expects enthusiasm for outdoor experiences amid the pandemic to help support a recovery.
Through6 Invests $2 Million In North Carolina Expansion
Through6, an on-demand, full cut and sew vertical manufacturing solution specializing in sublimation and direct to garment (DTG) apparel, will open a new facility in Sanford, NC. The company plans to locate the operation in phases, with total employment of 160 jobs and $2 million in capital investment when the facility is fully operational
Reebok To Cut Ties With CrossFit Over Founder’s Racial Remarks
Reebok announced that it will end its association with CrossFit after CrossFit’s Founder and CEO Greg Glassman equated the police killing of a black man to the COVID-19 pandemic.
Backcountry Announces Executive Leadership Changes
Backcountry, the online outdoor retailer, named Melanie Cox, formerly interim CEO at rue21, as its chief executive officer. Jonathan Nielsen, Backcountry’s CEO since March 2016, is departing. Additionally, Sarah Crockett, formerly at Burton, has been appointed chief marketing officer.
Modell’s Extends Bankruptcy Suspension Until June 15
Modell’s won another extension of the pause in its Chapter 11 bankruptcy case as most stores remained closed due to COVID-19 and due to disturbances across retail following the May 25 killing of George Floyd in Minneapolis.
Jack Wolfskin’s CEO To Exit
Melody Harris-Jensbach, CEO of Jack Wolfskin, will depart. In a statement, the outerwear brand’s parent, Callaway Golf said an agreement had been reached more than a year ago that Harris-Jensbach would leave as soon as Jack Wolfskin’s integration into the Callaway Group was completed.
Foot Locker To Close All North American Stores For George Floyd’s Memorial Service
Foot Locker will close all its locations on Monday, June 8, in observance of George Floyd’s Celebration of Life Servic
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