Shares of Under Armour Inc. rose $1.24, or 6.6 percent, to $20 at market close Thursday following the company’s early morning announcement that the company would increase the number of job cuts as part of a broader restructuring plan.
Category: Apparel
Champion To Open Store In Chicago
Champion Athleticwear is continuing to expand the company’s retail footprint with the company’s first store in Chicago and the company’s third in the U.S. overall. The store is at 1520 North Milwaukee Avenue.
NFL Experience In Times Square To Close
The Times Square-based NFL Experience—a 40,000-square-foot attraction featuring a 4-D roller-coaster theater—is closing doors on September 30 after being open for just 10 months, according to the New York Post. The project—a joint venture between the NFL and Cirque du Soleil—was not able to meet its financial goals.
Athleta to Introduce Men’s Athleisure Line
Gap Inc. announced the launch of Hill City, a men’s athleisure brand. Hill City is slated to launch mid-October available exclusively at hillcity.com, and pieces from the brand will also be displayed at 50 select Athleta locations.
Descente Hires Fritz Taylor To Run North American Group
Descente has established a wholly-owned North American subsidiary led by industry veteran, Fritz Taylor, that will seek to expand the Japanese athletic apparel brand beyond ski channels.
Amer Sports: Apparel Is Key Driver In Strategic Transformation
As Amer Sports moves towards areas of faster growth, higher profitability and better asset efficiency, the company said apparel and footwear will be at the heart of the change.
REI Co-Op Celebrates National Public Lands Day With Events Across Country
REI Co-op is celebrating National Public Lands Day with more than 75 events across the country to steward and raise awareness for public lands. From repairing local trails to beautifying parks to community celebrations, REI is inviting members of all ages and abilities to join in the effort. Events begin Sept. 22 and continue through the end of the month.
Under Armour To Downsize 3 Percent Of Workforce
Under Armour Inc. said the company’s restructuring program will now cost more than the company previously expected, as the company plans to cut about 400 jobs, or about 3 percent of the company’s global workforce, by March. At the same time, the company raised the lower end of the fiscal 2018 earnings forecast.
The/Studio Raises $11 Million In Funding
The/Studio, an on-demand, custom manufacturing platform for product development based in Los Angeles, raised $11 million in a strategic Series A round led by Ignition Partners.
Sweaty Betty Partners Again With Dare To Bare
Movemeant Foundation, a nationally recognized non-profit organization, and Sweaty Betty, a 20 year old leading women’s activewear brand born in London, are bringing the largest body-positive fundraising event, ‘We Dare To Bare’, back to New York City on September 30.
U.K. Analyst Bullish On JD Sports’ U.S. Entry
In reporting results last week for the first half, JD Sports indicated the company was moving full-steam ahead with plans to test the JD flagship concept in the U.S. while leveraging its merchandising talents on Finish Line locations. One U.K. analyst, Jonathan Pritchard at Peel Hunt, believes JD Sports has strong potential to shake up U.S. sneaker retailing.
Icebreaker Opens New Touch Lab In Laval, Quebec
Original natural performance fiber apparel brand Icebreaker has announced the grand opening of a new touch lab in Laval, Quebec, and the much-anticipated reopening of three touch labs in Canada; Kitsilano, British Columbia; Montreal, Quebec and Park Royal, British Columbia.
PVH Corp. Sets Renewable Electricity Targets With RE100 Commitment
PVH Corp., one of the world’s largest apparel companies and owner of a family of brands that include Calvin Klein, Tommy Hilfiger, Van Heusen, Speedo, Warner’s and Izod, on Wednesday joined RE100, a global corporate leadership initiative moving businesses toward 100 percent renewable electricity.
Jackson State University Partners With Nike And BSN Sports
Jackson State Athletics, along with the JSU Foundation, has entered a five-year partnership with Nike through BSN Sports for sports apparel and equipment.
Deloitte Forecast: Retail Holiday Sales To Climb 5 To 5.6 Percent
Retail holiday sales are expected to increase a robust 5 to 5.6 percent over last year’s shopping season, according to Deloitte’s annual retail holiday sales forecast.
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