Adidas filed a counter-lawsuit against former five-star recruit Brian Bowen II’s father, a former grassroots consultant and a financial advisor. The suit charges the three worked with Adidas employees to funnel money to the families of high school basketball prospects while evading detection by others in the company.
Author: SGB Media
Apex Global Brands Posts Loss In Q4
Apex Global Brands, the parent of Hi-Tec and Cherokee, reported a net loss of $1.1 million in the fourth quarter ended February 1 compared to net income of $0.2 million a year ago. Revenues declined to $5.5 million from $6.1 million.
DSW-Parent Provides Financial Liquidity Update
Designer Brands Inc., the parent of DSW, announced the amendment of its $400 million revolving line of credit. This amendment, coupled with support received from vendor partners and landlords, helps to fortify the company’s near-term liquidity as it addresses the continuing impacts of COVID-19 and begins to reopen stores in select geographies.
Clarus Terminates SKB Acquisition
Clarus Corp. said it canceled its planned acquisition of protective Case Maker S.K.B. Corp. due to uncertainties created by the COVID-19.
New Balance Donates To Hope For The Warriors
New Balance made a $35,000 donation to Hope For The Warriors to fund sports programming for children of military service members in honor of Armed Forces Day.
Eighty Percent Of Golf Courses Expected To Be Open By May 3
Fifty-eight percent of golf courses in the U.S. were open for play in the week ended April 26 with 80 percent expected to be open by May 3, according to the National Golf Foundation’s most recent COVID-19 survey.
Canada Bans Assault Weapons
Canada’s Prime Minister Justin Trudeau on Friday announced that assault-style firearms would be banned in the country.
Varsity Spirit Launches Series Of Virtual Solutions
Varsity Spirit, a division of Varsity Brands, is offering several free virtual resources to cheer and dance coaches who cannot host in-person tryouts for next year’s teams.
L.L.Bean Secures Tax Break For Expansion
L.L.Bean will receive a nearly $10 million tax break from the city of Freeport, ME to support the $110 million expansion of its headquarters, according to the Portland Press Herald.
Newell Brands’ Home & Outdoor Living Segment Posts Steep Loss On Charges
Newell Brands’ Home & Outdoor Living segment, which includes Coleman and Marmot, posted a $1.1 billion operating loss after impairment charges. Net sales in the segment were $547 million in the first quarter compared with $627 million in the prior-year period, reflecting a core sales decline of 11.3 percent.
‘Preparedness Mindset’ Bodes Well For 5.11 Tactical
The nationwide demand for prepping products helped 5.11 Tactical perform ahead of the expectations that parent company Compass Diversified Holdings LLC (CODI) laid out for the brand in the first quarter. In CODI’s overall branded consumer businesses, revenues and EBITDA increased 4.2 percent and 4.3 percent, respectively
Clarus Terminates SKB Acquisition Due To COVID-19 Uncertainty
Clarus Corp., in an 8-K filing Friday morning, said it was terminating its planned acquisition of protective case manufacturer S.K.B. Corporation (SKB) due to “recent events surrounding the COVID-19 global pandemic, and the economic uncertainties in the United States and globally.”
Is Your Outdoor Brand Eligible For Tariff Relief?
A Thursday webcast hosted by the Outdoor Industry Association outlined the ways that outdoor brands that make a variety of products can apply for tariff exclusions or deferrals, saving them money during this difficult time. It’s a tricky process, but here are a few tips on how to begin.
Aisle Talk Week Of April 27, 2020
Top National Stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market during the week of April 20, 2020.
Modell’s Secures Suspension Of Bankruptcy Until May 31
A New Jersey bankruptcy judge extended the suspension of the bankruptcy case of Modell’s Sporting Goods under May 31 as COVID-19 continues to prevent the retailer from holding liquidation sales at physical stores.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal