VF plans to hire its first president, Greater China. Kevin Bailey, executive vice president & Group President, APAC, will continue leading the Asia Pacific Region but will relocate to Denver, CO where he will also assume leadership of the company’s Emerging Brands platform including Altra, Eagle Creek, JanSport, and Smartwool brands as well as Kipling and Icebreaker brands in the Americas Region.
Category: Apparel
Under Armour Looking To End 15-Year Deal With UCLA
Under Armour has officially informed UCLA Bruins Athletics of its intent on terminating its record apparel deal signed in 2016. UCLA officials have vowed to fight UA’s move.
Nike To Undergo Layoffs In Digital Push
Nike in a letter to employees warned of layoffs as the company shifts resources to invest in high-potential growth opportunities, including digital.
USA Triathlon Foundation Awards $110,000 In COVID-19 Relief Fund Grants
The USA Triathlon Foundation announced the grant recipients for the COVID-19 Relief Fund, established in April, to support members of the multisport community who have been impacted by the virus. More than $110,000 will be dispersed to 40 organizations and individuals.
Golf Rounds Played Bounce Back In May
Golf rounds in May recovered to show a year-over-year gain of 6.2 percent as golf courses reopened across the country according to Golf Datatech. For the year-to-date period, rounds played are down 8.0 percent.
Descente Ltd. Names New North America Distributor
Descente Ltd. is partnering with Momentum Distribution Inc. for its skiwear and accessories business in Canada and USA Territory.
Boardriders Debt Ratings Downgraded
Moody’s Investors Service changed Boardriders Inc.’s outlook to negative from stable. The outlook change reflects the significant deterioration in earnings and cash flow resulting from the disruptions caused by COVID-19.
GOB Sale Resumes At 107 Modell’s Locations
Modell’s Sporting Goods has resumed going-out-of-business sales at 107 of its remaining stores, beginning immediately.
Nike Reports $790 Million Quarterly Loss
Nike Inc. reported a loss of $790 million, or 51 cents a share, in the fourth quarter ended May 31, driven by lower revenue and gross margin as a result of the COVID-19 impact on operations, partially offset by lower selling and administrative expenses. Sales decreased 38 percent to $6.3 billion.
Macy’s Announces Restructuring To Address Sales Impact From The Pandemic
Macy’s Inc. announced it will reduce corporate and management headcount by approximately 3,900 as part of a restructuring to align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic.
Iconix Agrees To Sell Starter China
Iconix Brand Group Inc. said in a regulatory that it agreed to sell Starter China Limited for $16.0 million. The Starter China sale includes the sale of the Starter brand in the mainland of China, Hong Kong, Taiwan and Macau.
Hibbett Sports Opens Winston-Salem Store
Hibbett Sports announced the opening of the newest Winston-Salem, NC store located at 1223 Silas Creek Parkway in Parkway Plaza.
Under Armour Extends Sponsorship With Texas Tech
Under Armour agreed to a four-year sponsorship extension with Texas Tech University, according to a report from the Baltimore Business Journal.
OBIT: Frank Dassler
Frank Dassler, grandson of Puma founder Rudolf Dassler, has passed away at the age of 64. He was managing director of the Puma subsidiary in the USA from 1985 to 1987 and group general counsel at Adidas from 2004 to 2018.
Arc’teryx Recognized As One of The Best Workplaces In British Columbia
Arc’teryx Equipment has been named to the list of 2020 Best Workplaces in British Columbia. Arc’teryx received this honor after a thorough and independent analysis conducted by Great Places to Work.
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