Nike has asked a Manhattan federal judge to order disgraced attorney, Michael Avenatti, to pay more than $856,000 in restitution for his attempt to extort up to $25 million from the company, according to a report from CNBC.
Category: Footwear
U.S. Business Groups Urge Trade Chief To Forgo Vietnam Tariffs
SFIA, OIA, SIA, FDRA and AAFA were part of 76 trade associations that sent a letter to U.S. Trade Representative Katherine Tai urging the Biden administration against adding more 301 tariffs and instead, use other tools, such as financial diplomacy led by the Treasury Department, to pressure Vietnam on any currency concerns.
AAFA Sends Letter To President Biden Calling For Tariff Relief To Offset Shipping Crisis
American Apparel & Footwear Association President and CEO Steve Lamar emphasized the need for additional federal support to address the ongoing shipping crisis that has caused a “destructive cycle of lengthening delays and rocketing costs” in a letter to President Biden.
Senate Passes Bill Banning Imports From Xinjiang, China
The U.S. Senate passed legislation on Wednesday to ban the import of products from China’s Xinjiang region unless importers can prove they weren’t made with forced labor. The move marks the latest effort in Washington to punish Beijing for what U.S. officials say is an ongoing genocide against Uyghurs and other Muslim groups.
Genesco Earns Egan-Jones Endorsement
Egan-Jones Proxy Services has joined Institutional Shareholder Services in recommending that Genesco shareholders vote for the company’s director nominees at its July 20 annual meeting.
Academy Sports’ Debt Ratings Upgraded
Moody’s Investors Service upgraded Academy Sports and Outdoors’ debt ratings due to the chain’s “continued outperformance in Q1 2021 relative to expectations and Moody’s projections for solid credit metrics even in a scenario of normalized demand in the sporting goods category.”
Ross Stores Announces Departure Of CFO
Ross Stores Inc. announced that Travis Marquette, the company’s executive vice president and chief financial officer since 2019, has resigned effective immediately to accept a position with another company.
Vietnam Operations Of Footwear Giant Pou Chen Hit By COVID
Taiwan’s Pou Chen Corp, which makes footwear for Nike, Adidas and other athletic footwear companies, suspended operations at its plant in Ho Chi Minh City due to COVID-19 outbreaks.
Eddie Bauer Launches Gear Rental Program
Eddie Bauer has launched a gear rental program in partnership with Arrive Outdoors, camping gear and outdoor product rental business.
Scheels Announces Wichita Location For 2023
Scheels announced its second Scheels location coming to Kansas. The new store will open in Spring 2023 in Wichita, in collaboration with Simon, joining the Overland Park Scheels that opened near Kansas City in 2015.
Nike Loses Fight Over EU Probe Into Dutch Tax Deal
Europe’s second-highest court backed a European Union’s investigation opened two years ago into its Dutch tax affairs.
RunSignup Mid-Year Trends Data Shows Normal Registration Patterns And Decline Of Young Participants
RunSignup, the technology provider for endurance and fundraising events, released preliminary registration data from the first half of 2021 providing key metrics on the recovery of the events industry.
Crocs Files Infringement Suits Against 21 Defendants In U.S. District Court
Crocs Inc. announced that it has filed lawsuits against 21 companies alleging infringements of its registered trademarks.
Bally’s Acquires The Association Of Volleyball Professionals
Bally’s Corp. announced that it has acquired the Association of Volleyball Professionals (AVP) and host of the longest-running domestic beach volleyball tour in the United States.
Yue Yuen’s June Sales Climb 8.7 Percent
Yue Yuen’s consolidated operating revenue reached $787.7 million in June, up 8.7 percent against $724.6 million a year ago.
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