U.K.-based Frasers Group, the parent of Sports Direct, Everlast, and Evans Cycles, among many others, reported a 7.4 percent decline in sales for its fiscal year ended April 27, as continued sales growth from Sports Direct was offset by moves to right-size other sports banners and weakness in its luxury segment.
Category: Apparel
NOCSAE Finalizes First Performance Standard for Youth Football Helmets
The standard is the result of over 10 years of NOCSAE-led effort and funding to support scientific research, testing, and analysis to establish sufficient youth-specific data and testing criteria necessary to develop the standard.
NRF’s Chief Economist Transitions to Senior Economic Advisor
The National Retail Federation announced on Thursday, July 17, that Jack Kleinhenz, NRF’s chief economist since 2010, is stepping down to serve in a new capacity as senior economic advisor. NRF Executive Director of Research Mark Mathews will become NRF’s new chief economist while continuing to lead the research team.
Nike’s Artificial Intelligence VP is Departing
Jason Loveland, Nike Inc’s VP of enterprise AI/ML engineering, is exiting his post as Nike confirmed layoffs in May at its technology division as part of a broader restructuring.
Saks Global Appoints CFO
Saks Global appointed Brandy Richardson, formerly at Tailored Brands and Neiman Marcus, as chief financial officer, effective August 18.
Nordstrom Inc. Appoints New Chief Financial Officer
Kelly Dilts joins Nordstrom from Dollar General where she has served as executive vice president and chief financial officer since 2023. Her appointment is effective August 29.
Next Level Apparel’s Debt Ratings Downgraded by Moody’s
Moody’s lowered the debt ratings of YS Garments LLC, doing business as Next Level Apparel due to refinance risk associated the Torrance, CA-based clothing company’s revolver due February 2026 and its term loan due August 2026.
Bombas Promotes Jason LaRose to CEO; David Heath Moves to Executive Chair
Company President Jason LaRose, a former Under Armour executive, to CEO. Bombas Co-Founder David Heath becomes executive chair. LaRose is responsible for expanding Bombas beyond direct-to-consumer, with only 7 percent of revenues currently coming from wholesale.
Kohl’s Appoints JD Sports Exec as Chief Digital Officer
Arianne Parisi, most recently chief digital officer for JD Sports Fashion Plc, has been named the retailer’s chief digital officer. Starting on July 28, Parisi will join the company’s executive leadership team and report directly to Interim CEO Michael Bender.
Lululemon Inks Franchise Partner to Enter Market in India
The collaboration will see LULU launch its first retail store in the country in addition to having a dedicated e-commerce presence on both Tata CLiQ Luxury and Tata CLiQ Fashion platforms.
NFL, Fanatics Antitrust Lawsuit Over Amazon Sales Dismissed
The ruling frees the NFL, its teams and Fanatics from a lawsuit brought in 2022 by merchandise business Casey’s Distributing, Inc., which alleged that the companies conspired to exclude it from selling NFL-licensed products on Amazon’s marketplace, leaving consumers with fewer options and higher prices.
Nike’s Debt Downgraded on Lower Profitability, Tariff Risks
S&P Global Ratings lowered its debt ratings on Nike, Inc., due to recent sales and margin declines that it expects will continue in its current fiscal year as well as ongoing tariff risks. The rating agency said, “We believe it will take multiple years to regain the market share lost to both apparel and footwear competitors and return Nike to historical levels of profitability.”
Rygr Taps Saks, Backbone and TNF Veteran as Company President
Hlidek replaces Brian Holcombe, who co-founded Rygr in 2016 and assumed the role of president in 2023. The company said Holcombe’s nine-year tenure helped shape the agency’s “strong foundation, culture and client portfolio.”
Ireland’s Gym+Coffee Appoint Former Nike Exec as CEO
Niall Horgan, Diarmuid McSweeney and Karl Swaine founded the Dublin-based brand in 2017 and operate seven stores in Ireland. Jason Crawford, formerly of Nike and Adidas, will take on the role as CEO as the founders step away from the Ireland-based athleisure brand’s day-to-day operations.
Adidas Extends Contract with University of Nevada
The University of Nevada announced a new five-year agreement with Adidas, continuing its partnership that began in 2020. Adidas will remain the exclusive provider of footwear, apparel and accessories for Wolf Pack Athletics.
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