The 112 employees affected by the layoffs represent 8 percent of Orvis’ workforce. In the U.S., Orvis operates 70 retail stores and 10 outlets. In the UK, the company operates 18 retail stores and one outlet. The company did not disclose what store would be affected by the closures.
Category: Apparel
EXEC: Vista Inks Deals to Sell Revelyst and The Kinetic Group Separately
Vista Outdoor Inc. entered into a definitive agreement to sell its Revelyst outdoor segment to funds managed by Strategic Value Partners and amended its merger agreement with Czechoslovak Group (CSG) to acquire The Kinetic Group ammunition-related segment.
The North Face Expands Resale Program
The North Face announced that it has expanded its second-hand program, Renewed. Customers can now return used TNF gear online and in-store for monetary credit.
Salomon Opens Pop-Up In New York City, Plans Store Openings
The brand’s first store in SoHo, will serve as a test for Salomon as it plans to open five stores in 2025, beginning with a permanent space in New York City.
Manufacturing PMI Report Sees U.S. Contraction; Textile Mills Posted Sept Growth
Seventy-seven percent of manufacturing gross domestic product (GDP) contracted in September, up from 65 percent in August. Textile Mills were one of only five manufacturing industries reporting growth in September.
U.S. Port Workers and Operators Reach Deal to Suspend East Coast Strike
In a joint statement on the evening of October 3, the ILA and USMX reached a tentative agreement on wages and extended the group’s “Master Contract” until January 15, 2025, when they will return to the bargaining table to negotiate all other outstanding issues.
Thermore Invisiloft: High Warmth with Minimal Thickness
Thermore Group, a Milan-based manufacturer of thermal insulation alternatives for performance apparel since 1972, has launched Invisiloft, a slim insulation that combines “exceptional warmth with unprecedented thinness.”
Puma #Know Your Stuff: Real leather vs Vegan Leather Debate
The educational content series from Puma explores the conversation surrounding manufacturing goods with leather versus vegan leather and the environmental impact of each, created with input from Aishwarya Sharma, a Puma “Voices of a Re:Generation” and global goals ambassador.
Beyond Yoga Launches Club Beyond, a NYC Experiential and Retail Pop-Up
From October 11-16, Club Beyond, located at 31 East 17th Street, will offer two to three classes a day in fitness and wellness with guests and instructors, with workshops, brand experiences and the first Beyond Yoga retail store in the city.
Report: Growing Participation Rates Supporting Outdoor Rec Sales and M&A
Capstone suggested that financial performance across the sector is expected to improve as firms work through excess inventories, limit promotion activity, and mitigate margin pressures.
Academy Sports’ Debt Ratings Raised by S&P
S&P Global Ratings raised Academy Sports And Outdoor Inc.’s debt rating because the retailer has sustained S&P’s adjusted leverage well below the 2x area despite modest EBITDA margin contraction.
QVC Forms Multi-Year Partnership with USA Pickleball
Through the agreement, the home shopping network gains exclusive broadcast rights to select USA Pickleball Golden Ticket Tournaments during the year and the Biofreeze USA Pickleball National Championships held in November.
REI to Close Again on Black Friday, Encourage ‘Nature Therapy’
REI Co-op will again close all stores, distribution centers, activity centers, call centers, and headquarters on Thanksgiving and Black Friday Outdoor and pay its employees to spend the day outside.
Ames Watson to Lead Champion’s U.S. Collegiate and Teamwear Business
Ames Watson will oversee Champion’s U.S. collegiate apparel and teamwear business through GearCo, which is managed and operated by Ames Watson, following its sale to Authentic Brands Group.
Dick’s SG to Hire Fewer Seasonal Workers This Year
The retailer plans to hire nearly 8,000 seasonal workers for this year’s holiday season, a step back from the 8,600 planned hires in 2023. A steady decline in employee turnover since 2021 led DKS to a decrease in the number of seasonal workers this year.
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