Following the severe impact on its business from the coronavirus pandemic, Adidas on Tuesday received the approval from the German government to participate in KfW, Germany’s state-owned development bank. The company will receive €3 billion (US$3.3 billion) at customary market conditions to bridge this unprecedented situation.
Author: SGB Media
Icebreaker Names Cameron Walker GM, North America
Icebreaker, a VF Corp. brand, this week announced that Cameron Walker has been named general manager, Icebreaker North America.
Superfeet Worldwide Offers Drop-Shipping And Robust Affiliate Programs
Superfeet is rolling out two new programs to help support their specialty retail partners during this challenging time.
Behind The Deal: Why Exxel Outdoors Proceeded With Latest Acquisition
Exxel Outdoors announced its acquisition of outdoor apparel and gear brand Compass 360 during an unlikely time for U.S. business expansion. Exxel CEO Harry Kazazian spoke exclusively with SGB Executive about the company’s reasons for moving forward with the deal despite the economic uncertainty.
Delta Apparel Shifts Production To Produce Cotton Face Masks
Delta Apparel Inc. announced that it will leverage its manufacturing facilities to begin producing cotton face masks.
Fitbit To Study The Role Of Wearables to Detect, Track And Contain Infectious Diseases
Fitbit is collaborating with The Scripps Research Institute and Stanford Medicine on research aimed at using Fitbit data to help detect, track and contain infectious diseases like COVID-19.
Dick’s Announces Proposed Offering Of Convertible Senior Notes
Dick’s Sporting Goods Inc. announced its intention to offer $500 million aggregate principal amount of convertible senior notes due 2025 in a private offering.
Exxel Outdoors Acquires Outdoor Apparel And Gear Brand Compass 360
Broomfield, CO-based Exxel Outdoors announced it has completed the acquisition of Compass 360, an outdoor apparel and gear company. Financial terms of the deal weren’t disclosed.
Outdoor Recreation Roundtable Appoints Lindsey Davis To VP
The Outdoor Recreation Roundtable (ORR) announced it has hired Lindsey Davis to the role of vice president.
Vicis Acquired By Innovatus Capital Partners
Vicis, the high-tech football helmet startup that went into receivership in December, has been acquired by Innovatus Capital Partners, New York City investment firm that recently invested in Schutt Sports.
Pou Chen Corp To Suspend Vietnam Operations For Two Days
Pou Chen Corp., the world’s largest maker of athletic shoes, has been ordered to suspend production at its Pouyuen Vietnam business over COVID-19 concerns, Vietnamese state media reported.
Slinger Bag Signs Japan Distribution Agreement
Slinger Bag Inc., the maker of tennis ball launchers, announced its inaugural global distribution agreement with the Japanese sporting equipment distributor, Globeride Inc.
Capstone Precision Group Appoints Dan Thelen President
Capstone Precision Group appointed Dan Thelen president. Thelen has been general manager of Capstone’s Mesa, AZ operations, which includes Berger Bullets and Berger Ammunition.
Hanesbrands Debt Rating Outlook Lowered
S&P Global Ratings revised its outlook on Hanesbrands Inc., the parent of Champion, to negative from stable. The rating agency said Hanesbrands will face significant sales and profitability declines in the upcoming quarters due to store closures and a drop in consumer spending on nonessential items arising from COVID-19 and resulting in an economic recession.
J.C. Penney’s Debt Rating Downgraded
Moody’s Investors Service downgraded J.C. Penney’s debt ratings and lowered its rating outlook to negative as the widespread store closures as a result of the pandemic is expected to pressure J.C. Penney’s EBITDA, impede its turnaround strategy and weaken its leverage.
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