Iconix Brand Group, Inc., the parent of Starter, Pony, Umbro, Danskin and a number of other brands, said in a regulatory filing that its board has decided to broaden its exploration of strategic alternatives available to the company to enhance shareholder value, including a potential sale.
Category: Apparel
New Era Faces Layoffs As It Ends Furloughs
New Era Cap Co. announced that the company will bring a majority of its employees across the U.S. back from furlough but will lay off 187 workers as it makes adjustments to COVID-19-related challenges.
Under Armour Ends Partnership With Lacrosse Equipment Provider
Under Armour Inc. has ended its licensing agreement with Team 22, the exclusive licensee of all Under Armour lacrosse products since 2011.
Bass Pro Shops To Hire 5,000
Bass Pro and Cabela’s announced plans to hire 5,000 new employees nationwide due to strong demand amid the pandemic
Schuylkill Valley Sports Closing The Majority Of Its Stores
Schuylkill Valley Sports, based in Pottstown, PA, is closing nine of its 10 stores while continuing to operate its online operations and team business. The one store that will remain open is in Quakertown, PA and CEO and President Jason Lutz has vowed to open new stores with a fresh approach.
Authentic Brands Group LLC’s $150 Million Incremental First-Lien Term Loan Rated ‘B’
S&P Global Ratings assigned its ‘B’ issue-level rating to Authentic Brands Group LLC’s (ABG’s) proposed $150 million incremental first-lien term loan. ABG owns a portfolio of over 50 brands that include Spyder, Tretorn, Tapout, Prince, and Volcom.
MEC Undergoes Layoffs At Stores
Mountain Equipment Co-op (MEC), which operates 21 stores across Canada, has laid off a number of retail employees it formerly furloughed as it faces challenges managing during the pandemic.
Scheels Opens Store In Eden Prairie
Scheels on Saturday opened a two-story, 250,000-square-foot store at Eden Prairie Center at Eden Prairie, MN, replacing a smaller store.
REI Undergoes Layoffs At Store Level
REI will reduce its staff by about 400 employees across its 162 stores, according to a report from Kent Reporter.
EVent Fabrics Acquired By Hong Kong Company
EVent Fabrics, a developer waterproof apparel with air-permeable membrane technology, has been acquired by Performax Pro, Limited, of Hong Kong, who assumed full ownership of the eVent Fabrics brand for an undisclosed sum. The seller was Parker Performance Materials which has owned the eVent brand since 2017.
Retailers Say Credit Insurance Plan Could Increase Liquidity During Pandemic Downturn
The National Retail Federation welcomed a report released this week calling for a federal backstop for trade credit insurance, saying the proposal could help provide liquidity badly needed by retailers as they recover from the recession brought on by the coronavirus pandemic.
NRF Delays NYC Big Show Until June 2021, Adds January Virtual Event
The National Retail Federation announced its annual exposition and conference will take place in-person at the Jacob Javits Convention Center in New York City June 6-8, 2021. In addition, NRF is hosting a virtual event January 12-14, 19 and 21-22, 2021. Both events will feature the theme “Forward Together.”
Venum To Replace Reebok As UFC Partner
UFC, the mixed martial arts organization, announced that Venum, the maker of combat sports apparel and accessories, will become UFC’s new exclusive global outfitting and apparel partner starting in 2021. The deal will take effect in April 2021 after the current deal with Reebok expires.
Mindbody Announces New Leadership Appointments
Mindbody, the technology platform for the wellness industry, announced that the company’s Co-Founder, Rick Stollmeyer, is transitioning from the role of chief executive officer to executive chair and that the Mindbody Board of Directors has appointed current President Josh McCarter to CEO effective August 1.
AAFA: Lack Of Trade Credit Insurance Could Hinder Economy Restart
The American Apparel and Footwear Association in a statement urged federal leaders to support credit insurance for businesses to avoid hindering recovery efforts. The organization cited a new report published by economists Dr. Robert Litan and Dr. Yong Xu highlights on the need for a government-sponsored backstop to support trade credit insurance (TCI).
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