Standard & Poor’s lowered its issuer credit rating on Academy Sports to ‘SD’ (selective default) from ‘CCC+’ and the issue-level ratings on the term loan facility to ‘D’ from ‘CCC+’ due to the retailer’s repurchase of debt.
Category: Apparel
OIA’s Rich Harper Speaks Out On Potential Tariffs Impact
At hearings before the U.S. Trade Representative’s Office, Rich Harper, manager of international trade, OIA, said the proposed List 4 tariffs on $300 billion worth of Chinese imports would “raise costs for outdoor companies, cut already thin profit margins, hamper innovation and new product development and depress U.S. job growth.”
3N2 To Sponsor Full Sail Armada Esports Teams
3N2, the Orlando-based designer and manufacturer of custom apparel and footwear, has been named an official sponsor of Armada, Full Sail University’s collegiate esports organization.
Under Armour Appoints SVP Of Sports Marketing
Under Armour Inc. announced the appointment of Sean Eggert as its new senior vice president of global sports marketing. Eggert joins Under Armour from Red Bull.
Hibbett Delays 10Q To Review Lease Accounting
In a regulatory filing, Hibbett Sports Inc. said it will be unable to file its quarterly report for the quarter ended May 4, 2019 with the Securities & Exchange Commission within the prescribed time period due to the company’s need to further review its recent adoption of the Financial Accounting Standards Board’s Accounting Standards Update (ASU) regarding leases.
New Balance Comes Out Against Tariffs
New Balance, which has previously backed President Donald Trump’s trade policies, submitted a letter to the USTR strongly opposing President Trump’s latest threat to expand tariffs on China.
Fila Enters Esports With Counter Logic Gaming Partnership
Fila has partnered with Counter Logic Gaming to become the official apparel provider for its Fortnite team.
Delta Apparel Included In Russell 3000 And Small-Cap Russell 2000 Indexes
Delta Apparel Inc. announced that it has been included in the preliminary list of additions to join the broad-market Russell 3000 Index after market close on June 28, 2019. The various Russell indexes are reconstituted annually to reflect the 4,000 largest US stocks based on total market capitalization.
Bass Pro, Bluegreen Vacations, Settle Dispute Over Timeshare Sales Tactics
Bluegreen Vacations, the timeshare marketer based in Boca Raton, FL, will pay more than $40 million to Bass Pro Shops to settle a dispute over Bluegreen’s alleged high-pressure sales tactics. The settlement allows Bluegreen to resume sales at kiosks inside Bass Pro’s locations.
Lord & Taylor’s President Exits
Lord & Taylor’s president, Vanessa LeFebvre, is leaving.
Champs Sports Introduces Women’s Concept
Champs Sports, which is owned by Foot Locker Inc., has created an in-store shop concept called Champ Sports Women offering lifestyle-inspired footwear, apparel and accessories, with an emphasis on an active, healthy lifestyle, according to a report from Women’s Wear Daily.
Retailers Again Warn Trump About Tariffs
A group of more than 600 companies and trade associations have signed a letter to the president asking him to end the trade war with China and to drop tariffs.
VF Corp. To Shutter Alameda Facility, Lay Off 52
VF Corp. will eliminate 52 positions at its Alameda Warranty Center located at 2321 North Loop Road in Alameda, CA.
Nike Renews Contract With Syracuse
Nike will continue its more than 30-year relationship with Syracuse University as part of a new multi-year agreement.
Citi Trends’ CEO To Depart
Citi Trends, Inc. announced chief executive officer Bruce Smith has decided to resign from his position as CEO. However, in order to provide for an orderly transition, Smith has agreed to continue to serve as CEO until the earlier of when his successor is in place or February 1, 2020.
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