Report: VF Corp. Among Bidders For Golden Goose

According to Reuters, VF Corp. is among the companies looking to acquire Golden Goose. Sources indicate the company is competing with private-equity firms Permira and Advent as well as strategic investors PVH, Ralph Lauren and Tapestry for the Italian shoe brand.

Christy Sports Finds New Equity Partner

Christy Sports, LLC announced that it has received a significant strategic investment from TZP Capital Partners III, L.P. TZP, a private equity firm based in New York City, acquired Norwest Equity Partners’ equity stake in the winter sports retailer.

Firearms Background Checks Up 11 Percent On Black Friday

The Federal Bureau of Investigation reported its National Instant Criminal Background Check System processed 202,465 firearms checks on Black Friday, as reported by USA Today. That represents an 11 percent increase from last year’s figures of 185,713 and fell just short of the single-day record: 203,086 in 2017.

Online Sales Break Records On Black Friday

Overall online sales on Black Friday jumped 19.4 percent to  $7.4 billion, the second-largest Internet shopping day ever, according to data compiled by Adobe Analytics. The $7.4 billion marked the biggest sales day ever for Black Friday and trailed only last year’s Cyber Monday’s $7.9 billion for the number 1 spot of all-time in online revenue, according to Adobe’s data.

Black Friday Brick-and-Mortar Sales Up 4.2 percent

Black Friday shopping at physical stores saw a 4.2 percent increase in sales compared to 2018, according to First Data Insights. The greatest increase over normal shopping activity was seen across electronics and appliances, sporting goods, and clothing/shoe stores.

MEC Facing Financial Struggles

MEC (Mountain Equipment Co-op) lost Canadian $11.5 million in the year ended February 24, 2019 after restructuring charges against income of C$11.7 million the prior year. According to a report from Canada’s CBC, Canada’s largest outdoor gear retailer’s sales have slowed due to heightened online competition.

Citi Trends Posts Q3 Loss

Citi Trends, which is increasing its emphasis on gift-giving merchandise and away from apparel, reported a loss in the third quarter as comps increased 2.6 percent while increasing its full-year outlook. The retailer also said it plans to annually grow store base by 25 to 30 stores and remodel 50 stores and named Peter Sachse as interim CEO.

Gap Downgraded By S&P

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

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.”