The active lifestyle marketplace began 2020 with a high volume of M&A transactions, but the most notable story didn’t involve a done deal—just one of the highest-profile companies in the industry announcing plans to rightsize its portfolio and potentially target new assets. The January M&A Roundup examines VF’s latest move and asks what’s next?
Author: SGB Media
Nautilus Announces $70M Credit Facility
Nautilus Inc. announced the closing of a new five-year $70 million senior secured credit facility, consisting of a new $55 million asset-based revolver and a $15 million term loan with Wells Fargo Bank, NA.
Georgia Gwinnett College Signs Deal With Nike, BSN Sports
Georgia Gwinnett College in Lawrenceville, GA signed a multi-year apparel partnership with Nike and BSN Sports for the college’s six intercollegiate teams.
L.L.Bean Announces Layoffs, Plans To Close Lewiston Call Center
L.L.Bean said it plans to layoff 200 employees companywide at the end of February and close its call center in Lewiston, ME in 2021.
Adidas Closes Numerous Stores In China
Adidas said it was closing a “considerable” number of its stores in China due to concerns over the coronavirus outbreak, according to a report from Reuters.
USA Football Grant Program Applications Open For 2020
Youth, middle school and high school football programs may apply now through March 9 for USA Football’s equipment grant program, offering $1 million in resources to benefit young athletes. Vendor partners include Riddell, Gilman Gear, Shadowman Sports and Catapult.
Winchester’s Q4 Revenues Expand 6.3 Percent
Olin Corp. reported Winchester’s sales for the fourth quarter 2019 were $154.7 million compared to $145.5 million in the fourth quarter 2018, a gain of 6.3 percent.
Foot Locker Launches New Membership Program
Foot Locker Inc. announced the North America rollout of FLX, its new membership program unifying all Foot Locker, Inc. brands under one easy-to-use platform.
Nike Provides Update On Impact of Coronavirus In China
In the context of the evolving dynamics related to the coronavirus in China, Nike Inc. said it is prioritizing the health and safety of its store associates and partners, in cooperation with local authorities. Similar to others in the marketplace, approximately half of Nike-owned stores have been temporarily closed, with corresponding dynamics across its partner stores.
Baseball Express Celebrates 30th Anniversary
Baseball Express, the oldest continuously operating online baseball store in the country, is celebrating its 30th year in business in 2020. Exclusive content and retrospectives looking back on the last 30 years in baseball and at the company throughout the month of February are planned.
Oros Opens Pop-Up In Chicago
Oros, the outerwear start-up based in Portland, OR, has opened a pop-up in Chicago.
Boot Barn Narrowly Misses EPS Estimates In Fiscal Third Quarter
Boot Barn Holdings Inc. on Tuesday announced net income per diluted share for the fiscal third quarter ended December 28, 2019, of 81 cents, one cent shy of Wall Street’s estimates for the period.
Macy’s Unveils Massive Changes, Including Layoffs, Closures, HQ Move
In advance of its Investor Day later this week, Macy’s Inc. on Tuesday announced an updated strategy and three-year plan designed to stabilize profitability and position the company for growth. The plans call for the elimination of 2,000 jobs, the closing of 125 stores and the consolidation of its corporate offices, including naming New York City as the company’s sole corporate headquarters.
Yeti Appoints Frank Gibeau To Board Of Directors
Yeti Holdings Inc. announced its board of directors has appointed gaming and interactive entertainment executive Frank Gibeau as an independent director, effective January 30, 2020.
Planet Fitness Announces Board, Leadership Team Appointments
Planet Fitness Inc. this week announced the appointment of Enshalla Anderson to its board of directors, effective immediately. Additionally, the company has announced internal senior leadership appointments focused on strengthening its leadership team to support its accelerating growth.
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