The PVH Foundation—PVH Corp.’s philanthropic fund specifically dedicated to nonprofit donations and volunteer programs—announced an additional $1 million, for a total commitment of more than $2 million, toward COVID-19 relief efforts.
Author: SGB Media
Brand Finance Report Sees Significant COVID-19 Impact On Apparel Sector
Nike retained its title as the world’s most valuable apparel brand, brand value up 7 percent, according to the Brand Finance Global 500 2020. However, the report found the apparel sector will be among the most affected by the COVID-19 pandemic.
Skechers’ Animal Welfare Movement Has Raised $5.45 Million
Skechers has made a donation of more than $509,000 to the Petco Foundation, bringing the company’s total contribution to over $5.45 million for animal welfare agencies.
Nifty Games Raises More Than $12 Million
Nifty Games Inc., a developer and publisher focused on head-to-head sports games for mobile devices, has secured more than $12 million in Series A financing, with $15 million raised to date.
Retail Sales Plunge In March, But Bloodbath Just Beginning
U.S. retail sales plummeted 8.7 percent to $483.1 billion in March from the previous month, their largest dip in three decades since the government started tracking the data, the Department of Commerce reported Wednesday. But that is just the first sign of what is sure to be a season-long bloodbath across the retail sector for any business not selling essential items such as groceries.
Dick’s Announces Pricing Of $500 Million Private Offering
Dick’s Sporting Goods Inc. announced the pricing of its offering of $500 million aggregate principal amount of 3.25 percent convertible senior notes due 2025 in a private offering.
Ecco’s 2019 Revenues Climb 3.8 Percent
ECCO reported a slight decline in earnings in 2019. Revenues rose 3.8 percent to €1.36 billion from €1.31 billion.
DSW To Open In-Store Shops Inside Hy-Vee Locations
Designer Brands Inc. in a new partnership plans to roll out several DSW shop-in-shops in Hy-Vee stores over time. The partnership will launch initially with an online experience, offering customers DSW’s digital experience via Hy-Vee.com.
Under Armour Names Lisa Collier As Chief Product Officer
Under Armour Inc. announced the appointment of Lisa Collier as chief product officer. Collier joins Under Armour after leading NYDJ (Not Your Daughter’s Jeans) as President and CEO from 2016/19. Prior to joining NYDJ, she held numerous positions over her 13-year career with Levi’s Strauss & Co.
Caleres Expands Liquidity Position
Caleres announced it has exercised a portion of the accordion feature on its asset-based revolving credit facility. The exercise increases the available borrowing capacity under the facility by $100 million to a total of $600 million.
Varsity Brands’ Debt Ratings Outlook Lowered
Moody’s Investors Service said it reduced its debt rating outlook on Varsity Brands, the parent of Varsity Spirit, Herff Jones and BSN Sports, to negative from stable. The rating agency said the change reflects the company’s high financial leverage amid school closures across the U.S. in response to the coronavirus and the uncertainty around the duration of the outbreak and pace of re-openings once the pandemic subsides.
Nike Names Ann Hebert VP, GM Of North America Geography
Nike Inc. announced senior leadership changes to continue accelerating growth in its flagship market. Effective June 1, Nike veteran Ann Hebert, vice president of global sales, will become vice president, general manager of North America Geography, succeeding long-time executive Tom Peddie who is retiring from Nike.
Dick’s Seeing ‘Significant’ Traffic Decline Due To COVID-19
In an update on the impact of COVID-19, Dick’s Sporting Goods Inc. said it has seen a “significant reduction in customer traffic and demand” since March 10 resulting from the continued spread of COVID-19, although online growth has accelerated. The retailer also said with moves to bolster its cash position and expand its borrowing capacity, it will “be able to continue operations for several months, even with stores remaining closed.”
G-Form Pivots Rhode Island Manufacturing Facility To Face Shield Production
G-Form LLC, which makes personal protective gear for team sports athletes, outdoor enthusiasts and military/tactical personnel, announced that it has dedicated its North Smithfield, RI, manufacturing facility, Polyworks, to the production of ANSI/ISEA Z87 D3 personal protective equipment (PPE) face shields.
Play It Again Sports Parent Sees Modest Q1 Earnings Gain
Winmark Corp. reported earnings of $7.33 million, or $1.87 per share, in the first quarter ended March 28 against $7.28 million, or $1.73, a year ago, representing a gain of 0.7 percent. According to Winmark’s recently-filed 10K, Play It Again Sports’ 2019 system-wide sales were $227 million across its 280 locations.
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