Moody’s upgraded the debt ratings of Vista Outdoor Inc. because Vista repaid a significant amount of debt over the last two years. The rating agency also expects the company’s operating performance to remain strong over the next 12 to 18 months as ammunition demand remains robust and as the company continues to work through its material backlog.
Category: Footwear
REI To Open New Store In Orland Park
REI Co-op will open a new store in the Village of Orland Park, IL in fall 2021, representing the co-op’s fifth location in Illinois.
United Legwear & Apparel Acquires TicTacToe
United Legwear & Apparel Co. (ULAC) has acquired TicTacToe, manufacturer of infant, toddler and children’s legwear, accessories and apparel.
VF’s Q3 Revenues Slide 6 Percent
VF Corp. reported sales dropped 6 percent in the third quarter ended December 26. Sales for the Vans brand were down 6 percent while sales for The North Face were flat, though the company’s entire outdoor segment fell 5 percent. Earnings came in just ahead of Wall Street’s consensus estimate but were below year-ago levels. VF nonetheless raised its guidance for the year.
Belk Plans Bankruptcy Filing To Restructure Debt
On Tuesday afternoon Belk said it plans to file for Chapter 11 bankruptcy protection to complete a debt-for-equity exchange designed to reduce its debt load by $450 million. Suppliers are expected to be unimpaired.
JD Sports Explores Funding Options To Fuel Expansion
JD Sports, the U.K. retailer that owns Finish Line and Shoe Palace in the U.S., confirmed on Tuesday that it was exploring additional funding to support growth.
Former Senior Marketing VP Of Under Armour Joins SquadLocker’s Board
SquadLocker announced that Jim Mollica, digital marketing executive and former senior vice president of global consumer engagement and digital at Under Armour, has joined its board of directors.
Target Giving $500 Pandemic Bonuses To 375,000 Frontline Employees
Target said it would be rewarding its frontline workers with $500 bonuses for their efforts during a “year unlike others” in 2020. Members of Target’s executive team, store leaders and distribution center leaders will net bonuses of $1,000 to $2,000. In total, Target is giving out $200 million in bonuses after a successful holiday season.
Belk Exploring Restructuring In Bankruptcy Proceedings
Belk Inc. is nearing a deal to file for bankruptcy protection to support a pre-arranged conversion of debt to equity, sources told Bloomberg.
NPD Report: Athletic Footwear And Activewear Sales Decline in 2020
U.S. athletic footwear dollar sales declined in the mid-single-digits in 2020 although sport-lifestyle, running, and golf outperformed, according to The NPD Group. Activewear sales were also down in the mid-single-digits for 2020, but sweatshirts and underwear posted gains.
Golf Scores Record Gains In Equipment Sales And Rounds In 2020
Golf Datatech LLC’s National Golf Performance Report showed that golf rounds soared 13.9 percent and equipment sales increased 10.1 percent in 2020 over 2019. The data-tracking organization said the surge in rounds and retail sales are primarily a result of golf being positioned as a near-ideal socially distanced activity during a pandemic.
Academy Sports Announces Secondary Offering Of Common Stock
Academy Sports and Outdoors Inc. announced that certain of its stockholders, including affiliates of Kohlberg Kravis Roberts & Co. L.P., intend to offer for sale in an underwritten secondary offering 12 million shares of common stock of Academy Sports.
Boot Barn’s Q3 Profits Climb 19.5 Percent
Boot Barn Holdings Inc. reported earnings rose 19.5 percent in the third quater ended December 26 on a 6.5 percent revenue gain.
Cole Haan Withdraws IPO Plans
Cole Haan Inc. in a regulatory filing applied for the withdrawal of its S-1 registration statement with the Securities and Exchange Commission supporting a planned initial public offering.
Golf Rounds Played Surge In December
Golf rounds played jumped 37.3 percent for the month of December and grew 13.9 percent in total for 2020, according to Golf Datatech. The biggest regional gains were seen in New England, West North Central and Mid-Atlantic.
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