Adidas and Foot Locker to create a new initiative that re-envisions the future of creativity and speed with the assistance of Adidas Speedfactory USA and Germany. Beginning this month, Adidas and Foot Locker will co-create consumer-inspired Adidas Made For (AM4) shoes across the country at various cultural events and sport moments throughout the year.
Category: Footwear
Nike And Under Armour Both Earn Stock Upgrades
Cowen on Tuesday raised its rating on Nike to “Outperform” in part because the brand’s strong innovation pipeline and quick-turnaround capabilities are expected to drive margins higher. Goldman Sachs lifted its rating on Under Armour to “Buy” due also to signs of margin improvement near-term along with healthier growth in the long term.
Under Armour To Sponsor Catholic University
Under Armour reached a five-year apparel agreement with Catholic University Athletics in Washington, D.C. through BSN Sports.
Puma Signs Multi-Year Partnership With Egypt Football Association
Puma has signed a new multi-year partnership with the Egyptian Football Association, which will see the brand once again team up with Africa’s most successful team.
Caleres Amends Credit Agreement
Caleres announced it has entered into an amendment of its credit agreement, which extends its senior secured asset-based revolving credit facility to January 2024, reduces upfront and unused borrowing fees, provides for less restrictive covenants, and offers more flexibility.
Retail Reports Roundup – January 21
A stack of retail surveys and studies arrived just in time for last week’s NRF Big Show in New York City. Research included the arrival of the “Emerging Male ‘Power Shopper” as well as retail developments with artificial intelligence, mobile apps, smart speakers, fulfillment technologies, personalization, card-not-present fraud and more.
Spalding Named Official Basketball Of Canadian Elite Basketball League
Spalding and the Canadian Elite Basketball League entered into a three-year partnership agreement that makes Spalding the Official Basketball of the CEBL.
Adidas Launches Sports Accelerator Program
Adidas announced the launch of its new sports accelerator program “Platform A” at Station F, the world’s largest start-up campus located in Paris. Thirteen start-ups have been selected to work with Adidas on new business initiatives for the sports industry starting in January.
Puma Establishes New North American Headquarters
As part of its growth, retention and recruitment strategy, Puma North America Inc. announced plans to establish a new North American headquarters in Somerville, MA in 2021. The new headquarters will bring together two Puma offices, currently based in Boston and Westford.
Altra Signs World Champion Obstacle Course Racer And Ultrarunner
Altra signed world champion obstacle course racer Amelia Boone to its Elite Team. Boone has won the Spartan Race World and Toughest Mudder championships.
Sears’ Unsecured Creditors Object To Lampert’s Deal To Save Company
The official committee of unsecured creditors said in a court filing it opposed the sale to chairman Eddie Lampert and asked court permission to file under seal a complaint against ESL for years of misconduct.
Adobe: U.S. Holiday Online Sales Grew 16.5 Percent
AdobeAnalytics reported that $126 billion was spent online this holiday season (November 1 – December 31), an increase of 16.5 percent year-over-year. Smartphones drove half the traffic (51 percent) for the first time ever, accounting for nearly a third (31 percent) of revenue, 34 percent growth year-over-year.
Superdry Appoints Former Nike Executive As Creative Director
Superdry appointed former Nike executive Phil Dickinson as creative director, effective January 22. He will guide Superdry’s product design and brand experience.
Merrell Pledges To The National Park System
Merrell has made a $25,000 pledge to the National Park Foundation, the official nonprofit partner of the National Park Service.
VF Corp.’s Shares Pop On Blowout Q3
With another blockbuster performance for Vans and an acceleration of growth at The North Face, VF Corp scored its best quarter in two years in its third quarter ended December 31 and again raised its full-year guidance. Shares of VF rose $9.08, or 12.4 percent, to $82.34 Friday on the New York Stock Exchange.
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