Burlington Stores Inc. reported profits on an adjusted basis rose 46.2 percent in the second quarter ended July 31 and sales grew 34 percent compared to the second quarter of 2019.
Author: SGB Media
Lululemon Raises Minimum Base Pay For Hourly Staff
Lululemon Athletica Inc. announced a comprehensive overview of the company’s approach to pay and benefits. Effective September 27, 2021, Lululemon will raise the minimum base pay for the majority of its store and Guest Education Centre (GEC) employees in North America. As part of the additional investments, people who are currently employed, and individuals who are hired from this point forward, will receive a new minimum of $15 or $17 per hour depending on their role and the market.
Freebeat Secures $20 Million In Funding
Freebeat, based in Shenzhen, China, has received $20 million in strategic funding from Susquehanna International Group and GSR Ventures. The funding will be used to boost the production of its connected exercise bikes.
SAXX Receives Strategic Investment From TZP Group
SAXX Underwear Co. Ltd. announced that it has received a strategic investment from TZP Group, a multi-strategy private equity firm, through TZP Capital Partners III, L.P.
Olin Corp. Debt Ratings Upgraded
S&P Global Ratings upgraded the debt ratings on Olin Corp., the parent of Winchester, due to its debt repayment and improving credit measures.
Topps’ Debt Ratings Downgraded
Moody’s Investors Service downgraded The Topps Company, Inc.’s Corporate Family Rating (CFR) due to the termination of Topps’ planned merger agreement with Mudrick Capital Acquisition Corporation II (MUDS) and cancellation of a proposed debt offering.
Nike Aims To Reduce Carbon Footprint
Nike is exploring the use of AirCarbon, a carbon-negative biomaterial produced by microorganisms from the ocean through a partnership with Newlight Technologies.
Under Armour Founder To Sell Stock
Kevin Plank, founder, executive chairman and brand chief of Under Armour, plans to sell up to 5 million shares of Under Armour stock, according to a regulatory filing.
Slinger Bag Announces Partnership With Mouratoglou Academy
Slinger Bag announced it entered into a partnership with the Mouratoglou Tennis Academy, founded by tennis coach and Slinger Bag brand ambassador Patrick Mouratoglou.
Fanatics Partners With Texas A&M
Fanatics signed a 10-year partnership with Texas A&M University. The deal was timed to coincide with the launch of Texas A&M’s 12thManShop.com that will tap into Fanatics’ e-commerce and mobile retail capabilities.
Gregory S22 Collection Improves On Best-Sellers, Expands Sustainability Efforts
For Spring 2022, Gregory has “perfected its best-sellers like the Baltoro and Deva” and “boosts its sustainability efforts across its product line,” said the brand. Gregory reimagined Baltoro and Deva’s suspension system and created an Adaptable Fit System that accommodates different back lengths and body shapes. A FreeFloat A3 suspension system, featuring an auto-rotating shoulder […]
Stashers Introduces Plus Size Cargo Bag
Stashers has expanded its modular, insulated hike & bike bag line with the Cargo Bag. Product details include: four engineered layers of padding and insulation to keeps food and drinks hot or cold for four hours or longer; fits most bicycle handlebars with built-in velcro attachments; two movable padded spacers to keep cargo safe and […]
LPGA Championship and Tokyo 2020 Olympic Athlete, Lexi Thompson, Endorses Aetrex Orthotics
Aetrex Worldwide, Inc. (Aetrex) announced its first athletic partnership with Lexi Thompson, an LPGA Championship and Tokyo 2020 Olympic athlete. As a longtime customer, Thompson has leveraged Aetrex Orthotics to enhance her performance during training and tournaments. Thompson, at age 12, became the youngest golfer to qualify to play in the U.S. Women’s Open; […]
GOA ‘Connect’ Show Early Registration, Vaccine Requirement And Expanded Refund Policy
GOA announced that advance registration is open for its annual ‘Connect’ buying show at the Kansas City Convention Center, scheduled for November 8-11, 2021. Attendees will be required to show proof of vaccination, with an expanded refund policy.
Dick’s SG Hikes Outlook As Second Quarter Crushes Analyst Targets
Dick’s Sporting Goods strongly raised its guidance for 2021 after reporting second-quarter earnings that came in well above Wall Street targets. Sales in the quarter increased 20.7 percent compared to the second quarter of 2020 and increased 45.0 percent compared to the second quarter of 2019. The company also announced a special dividend of $5.50 per share, a 21 percent increase in its quarterly dividend to $0.4375 per share and an increase in its planned share repurchases to a minimum of $400 million.
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