S&P Global Ratings revised its debt outlook on Foot Locker Inc. to stable from negative on better-than-expected results for fiscal 2020, resulting in leverage in the mid-1x area compared with S&P Global Ratings’ previous expectation of over 3x for 2020.
Category: Footwear
Sequential Brands Posts Q4 Loss
Sequential Brands Group Inc. reported a loss in the fourth quarter in part due to a charge tied to exiting a lease on its headquarters. Revenues were down 4.1 percent. The company said it continues to evaluate strategic alternatives, including the divestiture of one or more existing brands or a sale of the company and seeks an extension of waivers to cover financial covenant defaults.
Birkenstock Opens Store In Brooklyn
Birkenstock opened a store in the Williamsburg section of Brooklyn. The Brooklyn store follows the successful openings of the brand’s first two U.S. company-owned retail stores in the SoHo neighborhood of New York City and in Venice Beach, CA.
Lids To Open In-Store Shops Inside DSW
Lids announced a partnership with Designer Brands Inc. to open fan apparel in-store shops inside 45 DSW and The Shoe Company locations throughout Canada. The locations include stores in Toronto, Calgary and Vancouver.
Inov-8 Opens First Brand Store In The UK
This morning, Inov-8 opened its first brand store in the outdoor hub of Staveley in the Lake District of the UK. \
March Retail Sales See Strong Rebound
Retail sales rebounded with huge gains in March as government checks fattened consumers’ bank accounts and more vaccinations against COVID-19 made it easier for shoppers to get out of the house and lead to the acceleration of the U.S. economy, the National Retail Federation said.
Puma, Olympics End ‘Tokyo 2020’ Trademark Tiff
The U.S. Olympic Committee and Puma SE appear to have ended their trademark dispute of the use of “Tokyo 2020” and other Olympic-games-related trademarks, according to a report from Law 360.
Wolverine Worldwide Appoints Board Member
Wolverine World Wide Inc. announced the appointment of Kathleen Wilson-Thompson to its Board of Directors, effective May 5, 2021. The retired executive previously led human resources for Walgreens and Kellogg Company.
Anta Sports Posts Significant Q1 Sales Jump
Anta Sports Products Ltd. reported retail sales of Anta branded products for the first quarter recorded 40 percent to 45 percent positive growth year-over-year.
GOA Members See Robust Recovery
Grassroots Outdoor Alliance (GOA) reported robust year-to-year retail sales gains in its March membership update last week. The group is up 8 percent on a rolling 12-month basis, with Q1 2021 reported figures showing a 34 percent increase over Q1 2020, according to the group.
Major League Soccer Secures Top Corporate Sponsor With Procter & Gamble
Major League Soccer announced a big corporate sponsorship deal with Procter & Gamble, a move that could help the league recover from some of its COVID-19 losses.
Nobull Secures Equity Partner
Nobull, which earlier this year replaced Reebok as CrossFit’s sponsor, has secured an investment from Exeter Capital, a Boston-based private equity firm.
Kohl’s Reaches Settlement With Activist Investors
Kohl’s reached an agreement with Activist Investors Macellum Advisors, Ancora Holdings, Legion Partners Asset Management, and 4010 Capital. As part of the agreement, former Lululemon CEO Christine Day will join Kohl’s Board of Directors and two members selected by the Activist Investor Group.
L Catterton To Acquire West Marine
L Catterton, the private equity firm, announced that it has entered into a definitive agreement under which L Catterton will acquire a controlling interest in West Marine, the nation’s leading retailer in the marine aftermarket, from Monomoy Capital Partners.
REI’s Sales Slide 12 Percent In 2020
REI Co-op reported sales fell 11.9 percent in 2020 as the Co-Op managed through the challenges presented by the pandemic. REI also reported no profits in 2020 but ended the year in a strong cash position and debt-free, after investing millions in its impact work to combat climate change, address racial equity and support its network of nonprofit partners. REI also launched its Cooperative Action initiative.
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