Puma added Kendrick Nunn and Derrick Jones Jr., who both play for the Miami Heat, to the brand’s roster of NBA ambassadors.
Category: Footwear
Anta Sports Sees Coronavirus Outbreak Impacting First-Half Results
Anta Sports Products expects the coronavirus outbreak will impact its financial performance in the first half of 2020 but is aiming for a recovery in the second half, the Chinese company said in a stock exchange filing. Roughly 40 percent of the company’s stores in mainland China have re-opened.
Moody’s Assigns A3 Ratings To VF’s Proposed Euro Notes
Moody’s Investors Service assigned A3 ratings to V.F. Corporation’s proposed senior unsecured Euro notes. The stable outlook reflects Moody’s expectation that the company will maintain its strong position in the global apparel industry and sustain longer term positive trends in revenue growth while continuing to generate healthy operating margins.
S&P Reduces Boardriders’ Outlook To Negative
S&P Global Ratings lowered its debt ratings outlook on Boardriders Inc. reflecting our revised expectations for negative free operating cash flows (FOCF) through fiscal 2020 and the potential for a covenant violation.
Farfetch Raises $250 Million
Farfetch Limited, the London-based fashion marketplace, announced that it has agreed to issue and sell, via a private placement, convertible senior notes in an aggregate principal amount of $250 million.
Barneys New York To Close Remaining Locations On February 23
Barneys New York plans to close its remaining locations by February 23, according to a government filing.
Yue Yuen’s Sales Slide In January
Yue Yuen reported sales of $878.1 million in January against $924.0 million, a decline of 5.0 percent.
NBA To Lose ‘Hundreds Of Millions’ In China Over Hong Kong Tweet
NBA Commissioner Adam Silver said on Saturday that the league will likely lose “hundreds of millions of dollars” in lost sponsorships and broadcast revenue from its standoff with the Chinese government after an executive last year tweeted his support for Hong Kong’s protesters.
Michael Avenatti Found Guilty On All Counts In Nike Extortion Trial
Michael Avenatti, the celebrity lawyer, was convicted of all three charges related to his efforts to extort up to $25 million from Nike. Nike issued a statement after the guilty verdict: “The verdict speaks volumes. We thank the jurors for their time and service which is the bedrock of the American judicial system.”
Nike’s Chief Digital Officer Joins Epic Games
Adam Sussman, former chief digital officer at Nike, was appointed president of Epic Games, which makes numerous video games, including the popular Fortnite game.
Cole Haan Files Registration Statement For Initial Public Offering
Cole Haan Inc. announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its common stock.
Famous Footwear’s Q4 Comps Jump 5.1 Percent
Caleres inc. reported consolidated net sales are expected to reach approximately $700 million in the fourth quarter, down 3 percent. Famous Footwear net sales are expected to be approximately $370 million, with same-store sales up 5.1 percent
Asics’ Q4 Sales In North America Show Modest Decline
Asics Corp.’s sales in the North American region in the fourth quarter slid 5.5 percent to ¥18.8 billion ($171 mm) from ¥19.9 billion a year ago. The operating loss in the region was reduced to ¥2.12 billion ($19 mm) from ¥2.95 billion.
Moody’s Downgrades Under Armour’s Debt Rating
Moody’s Investors Service downgraded Under Armour Inc.’s senior unsecured rating to Ba1 from Baa3. The rating was also placed under review for further downgrade. The downgrade reflects the brand’s ongoing challenges reinvigorating growth in its core North American market and its potential 2020 restructuring plan.
Puma Signs Grammy-Winning Artist J. Cole For Footwear And Apparel Deal
Puma signed a multi-year footwear and apparel deal with Grammy-winning artist J. Cole.
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