Under Armour will be deleted from the S&P 500 stock index before the start of trading June 21 and be added to the S&P MidCap 400, S&P Dow Jones said. The S&P 500 tracks the performance of 500 large companies listed on U.S. stock exchanges.
Author: SGB Media
VF Corp. Debt Outlook Revised To Negative On Tax Ruling
S&P Global Ratings revised its debt ratings outlook on VF Corp. to negative from stable. The rating agency estimated VF will likely have to increase debt by more than $845 million to pay the assessed tax in order to appeal an unfavorable decision from the U.S. Tax Court regarding its post-acquisition restructuring of Timberland Co. in September 2011.
Kohl’s Debt Ratings Placed Under Review For Possible Downgrade
S&P Global Rating placed the debt ratings of Kohl’s under review with negative implications after the retailer announced that it entered into exclusive negotiations for a sale to Franchise Group, Inc.
Isbjörn of Sweden Upgrades Sun Range With Recycled Ocean Waste
Kids outdoor clothing brand, Isbjörn of Sweden, has added ocean waste Econyl regenerated nylon to its Sun collection for S/S 2023. Econyl converts nylon waste into regenerated nylon, with the same durability as new nylon. Econyl can be recyclable and recreated many times over for use in new products, including Isbjörn’s non-chemical sun products, without […]
Superfeet Expands Adapt Insole Family With Adapt Hike Max Insoles
Superfeet expanded its Adapt insole collection with its Adapt Hike Max Insoles designed for hiking and its patented Adaptive Comfort Technology to flex with the foot for comfort and efficient heel-to-toe turnover. The Adapt Hike Max insoles are the first hike-specific insoles in the collection, which include Adapt Run Insoles and Adapt Run Max Insoles. […]
Puma Adds Swimwear License
Puma and United Legwear & Apparel Co., LLC (ULAC) announced that they entered into a licensing agreement in North America for the production, sales, marketing, and distribution of Puma swimwear for men’s, women’s and kid’s.
Target Warns Of Profit Decline Over Inventory Imbalances
Target lowered its forecast for the second quarter as it plans to markdown merchandise, remove excess inventory and cancel orders in an effort to right-size its inventory levels.
IDC: Wearables Market Sees First Quarterly Decline As Demand Normalizes
The global wearables market faced its first-ever decline during the first quarter of 2022 (1Q22) as unit shipments totaled 105.3 million units, down 3.0 percent year over year, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.
Umarex USA Announces New Marketing Manager
Umarex USA announced the appointment of Scott Faldon as marketing manager.
RealReal Founder Steps Down As CEO And Chairman
Luxury fashion consignor RealReal announced that after 11 years of leadership, its Founder Julie Wainwright has decided to step down from her role as CEO, chairperson and member of the board of directors.
Marc Fisher Footwear Company Licenses Earth Shoes
The Marc Fisher Footwear Company entered into a multi-year agreement to license the Earth shoe brand for men’s and women’s footwear.
Signa Sports Appoints CEO
Signa Sports United (SSU) has appointed Max Heimann as chief executive officer of the Internetstores Group. Heimann will lead SSU brands, including Fahrrad.de, Probikeshop, Addnature, and CAMPZ across Europe for SSU.
Nextiles Raises $5M In Funding Round To Build Fitness Trackers
Nextiles, a smart fabric technology for athletes, announced its $5 million seed round led by Drive by DraftKings, with participation from the NBA, Madison Square Garden Sports Corp., Alumni Ventures, SmartSports, Phoenix Capital Ventures, and Newlab.
G-III Apparel’s Sales Jump 33 Percent In First Quarter
G-III Apparel Group, Ltd. reported earnings rose 16 percent in the first quarter on a 32.5 percent revenue gain. The company raised its outlook as sales and EPS both exceeded expectations.
Academy Sports Q1 Tops Expectations
Academy Sports reported first-quarter results that topped Wall Street targets but the retailer still slightly lowered its outlook due to macroeconomic challenges. Ken Hicks, CEO said, “We are satisfied with our first-quarter results as the company continued to position itself for long-term growth and expansion as we executed effectively in a highly dynamic environment and against a very strong prior-year quarter.”
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