Category: Apparel

NBA Commissioner Adam Silver said on Saturday that the league will likely lose “hundreds of millions of dollars” in lost sponsorships and broadcast revenue from its standoff with the Chinese government after an executive last year tweeted his support for Hong Kong’s protesters.

Michael Avenatti, the celebrity lawyer, was convicted of all three charges related to his efforts to extort up to $25 million from  Nike. Nike issued a statement after the guilty verdict: “The verdict speaks volumes. We thank the jurors for their time and service which is the bedrock of the American judicial system.”

Adam Sussman, former chief digital officer at Nike, was appointed president of Epic Games, which makes numerous video games, including the popular Fortnite game.

Asics Corp.’s sales in the North American region in the fourth quarter slid 5.5 percent to ¥18.8 billion ($171 mm) from ¥19.9 billion a year ago. The operating loss in the region was reduced to ¥2.12 billion ($19 mm) from ¥2.95 billion.

Moody’s Investors Service downgraded Under Armour Inc.’s senior unsecured rating to Ba1 from Baa3. The rating was also placed under review for further downgrade. The downgrade reflects the brand’s ongoing challenges reinvigorating growth in its core North American market and its potential 2020 restructuring plan.

Puma signed a multi-year footwear and apparel deal with Grammy-winning artist J. Cole.

Modell’s Sporting Goods has re-hired Berkeley Research Group “for a full-fledged balance sheet restructuring” and Cole Schotz for legal advice with plans “for a potential in-court restructuring,” according to a report from Debtwire.