Standard & Poors (S&P) lowered the issuer credit rating to ‘BB’ from ‘BB+’. The downgrade reflects our view that Gap Inc.’s performance struggles will persist as it faces a torrent of competitive headwinds and potential distractions from the planned separation of its core Old Navy brand in mid-2020
Author: SGB Media
Pure Fishing Appoints Dave Bulthuis President Of North America
Pure Fishing named Dave Bulthuis the new president of North America. Bulthuis is the former vice president of sales for Costa Sunglasses, where he served in a number of capacities since 2003.
Under Armour Upgraded To “Strong Buy” By Raymond James
Raymond James on Wednesday upgraded Under Armour to “Strong Buy” from “Outperform,” describing the firm as “underrated” and an “underdog.” In the note, Matthew McClintock wrote that his team has “become more comfortable with the company’s risk/return profile, particularly regarding execution risk, headline risk, and valuation.”
Aisle Talk Week Of November 25
Top headlines from across the active lifestyle industry featured in SGB during the week of November 25, 2019.
Silofit Raises C$1M In Seed Funding
Silofit, a Montreal-based network of private, on-demand fitness spaces, raised Canadian $1 million in seed funding. The round was led by Whitecap Venture Partners and Courtside Ventures, with participation from NFL player Ndamukong Suh.
SoulCycle CEO Resigns
Melanie Whelan, SoulCycle’s CEO since 2015, has resigned. Sunder Reddy, SoulCycle’s CFO since 2017, will assume the role of interim CEO while a search for a permanent replacement begins.
NRF: Half Of Holiday Shoppers Have Already Started
More than half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.
Moody’s Downgrades Pure Fishing’s Debt Ratings
Moody’s Investors Service downgraded Pure Fishing’s Corporate Family Rating (CFR) to B3 from B2 and revised the rating outlook to negative from stable.
OrderMyGear Promotes Matt Kaplan To SVP Of Revenue
OrderMyGear announced that Matt Kaplan has been promoted to SVP of revenue.
Report: Anta Exploring Sale Of Precor
Anta Sports Products Ltd. , which acquired Amer Sports in March 2019, is exploring a sale of Precor, the fitness equipment maker, after receiving interest from buyers, according to a report from Bloomberg.
Kevin Durant’s Thirty Five Ventures Joins Canopy Rivers’ Strategic Advisory Board
Canopy Rivers Inc. , a Toronto-based venture capital firm specializing in cannabis, has further bolstered its Strategic Advisory Board, adding Thirty Five Ventures, the business owned by NBA star Kevin Durant and sports business executive Rich Kleiman.
Skechers Completes New $500 Million Senior Unsecured Credit Facility
Skechers USA, Inc. announced the closing of a new $500 million, five-year, senior unsecured credit facility. This new credit facility replaces the $250 million asset-backed credit facility that Skechers entered into in 2015, which was due to expire in June 2020.
Report: Facebook Was Mystery Bidder For Fitbit
Google outbid Facebook to acquire Fitbit Inc., but the social media giant never acknowledged its interest in the wearables maker, according to a report from CNBC that cited unnamed sources familiar with the deal.
Tariff Impact Offsets Famous Footwear’s Solid Q3 For Caleres
A solid showing from Famous Footwear helped drive Caleres to record revenue in the third quarter, but the impact of tariffs took a toll during the period and should persist into Q4, the company said Monday. The increased tariffs, specifically those on List 4A, resulted in adjusted earnings per share of 78 cents, which missed Wall Street’s target by 5 cents.
Norrona To Open Flagship Store In Manhattan In Early December
Norrona, the four-season Norwegian outdoor brand renowned for its premium and sustainably built outerwear, opens the doors of its third global flagship brand center in the SoHo neighborhood of New York City on December 6.
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