Moody’s Investors Service upgraded Academy Sports and Outdoors’ debt ratings due to the chain’s “continued outperformance in Q1 2021 relative to expectations and Moody’s projections for solid credit metrics even in a scenario of normalized demand in the sporting goods category.”
Category: Apparel
Report: Fabletics Exploring IPO
Fabletics has recently retained banks to prepare for an initial public offering (IPO) with an aim at a valuation of more than $5 billion, sources told The Wall Street Journal. The filing comes as the workout-apparel brand backed by actress Kate Hudson has ramped up store openings in 2021.
Ross Stores Announces Departure Of CFO
Ross Stores Inc. announced that Travis Marquette, the company’s executive vice president and chief financial officer since 2019, has resigned effective immediately to accept a position with another company.
Play It Again Sports Income Soars In Second Quarter
Winmark Corp., the parent of Play It Again Sports, announced net income for the quarter ended June 26 of $8.94 million, or $2.33 per share, compared to net income of $5.06 million, or $1.33, in 2020.
Eddie Bauer Launches Gear Rental Program
Eddie Bauer has launched a gear rental program in partnership with Arrive Outdoors, camping gear and outdoor product rental business.
Scheels Announces Wichita Location For 2023
Scheels announced its second Scheels location coming to Kansas. The new store will open in Spring 2023 in Wichita, in collaboration with Simon, joining the Overland Park Scheels that opened near Kansas City in 2015.
Nike Loses Fight Over EU Probe Into Dutch Tax Deal
Europe’s second-highest court backed a European Union’s investigation opened two years ago into its Dutch tax affairs.
La Passione Secures New Round Of Funding
Italian cycling apparel brand, La Passione, announced a new funding raise of €7 million ($8.3 mm).
QVC Parent Appoints New President And CEO
Qurate Retail Inc., the parent of QVC and HSN, announced that David Rawlinson II will assume the role of President and CEO, effective October 1. He will succeed Mike George after a two-month transition period.
Bally’s Acquires The Association Of Volleyball Professionals
Bally’s Corp. announced that it has acquired the Association of Volleyball Professionals (AVP) and host of the longest-running domestic beach volleyball tour in the United States.
JD Sports Transfers Ownership Of DTLR Villa To Unit In U.S. Push
JD Sports Fashion has transferred the ownership of Baltimore-based retailer DTLR Villa to its U.S. unit to align all its businesses in the country under one entity.
Hibbett Schedules Opening For Stores
Hibbett announced the opening of two Hibbett Sports locations in Raleigh, NC, Charlotte, NC and a City Gear location in Sumter, SC.
Icebreaker Releases Fourth Transparency Report
Icebreaker, which is owned by VF Corp., released the fourth installment of its annual Transparency Report focused on its plastic-free initiative.
Nordstrom Takes Stake In Asos Brands, Including Topshop
Nordstrom and Asos announced that Nordstrom has acquired a minority interest in the Topshop, Topman, Miss Selfridge, and HIIT brands.
Report: Authentic Brands Group Out Of Bidding For Reebok
Authentic Brands Group (ABG) has dropped out of Adidas’ auction of Reebok, according to The New York Post. Wolverine Worldwide, which was expected to partner with ABG on a bid, is also reportedly no longer interested due to ABG’s exit.
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