Iconix Brand Group Inc. announced it has entered into a definitive agreement and plan of merger to be acquired by Iconix Acquisition Corp., an affiliate of Lancer Capital, LLC, in an all-cash transaction that values Iconix at approximately $585 million, including net-debt.
Category: Footwear
Yue Yuen’s Sales Gain 6 Percent In May
Yue Yuen’s consolidated operating revenue reached $737.0 million in May, up 6.4 percent against $692.6 million a year ago.
Renfro Brands Acquired By The Renco Group
Renfro Brands, the sock manufacturer, announced new ownership with the private holding company, The Renco Group, Inc. Renfro’s brand portfolio includes Fruit of the Loom, Dr. Scholl’s, Merrell, Copper Defense, Smartwool, Hot Sox, and K. Bell.
Adidas Invests In Finnish Sustainable Fiber Firm Spinnova
Adidas is investing €3 million ($3.65m) in Spinnova, a Finnish brand that makes textile fiber out of agricultural waste.
Jack Wolfskin Appoints New Footwear President
Jack Wolfskin appointed Selim Say, former director of product and merchandising EMEA at Keen, to the newly-created position of vice president footwear.
Craft Sportswear Partners With Spartan Trail And Tough Mudder
Swedish-based Craft Sportswear has expanded its relationship with Spartan by adding its designation of official “performance apparel and footwear” partner of the brand’s Obstacle Course Racing (OCR) entity to Spartan Trail and Tough Mudder.
Crocs Appoints Former J.Crew President To Board
Crocs Inc. announced that Tracy Gardner, former president of J.Crew, has been appointed to its Board of Directors effective June 9.
Back-To-School Sales Expected To Climb 5.5 Percent
According to Mastercard SpendingPulse, U.S. retail sales are expected to grow 5.5 percent during the critical July 15 through September 6 back-to-school period compared to 2020. Compared to 2019, sales are expected to grow 6.7 percent. The biggest year-over-year gains are expected from apparel, up 78.2 percent; and department stores, up 25.3 percent.
Report: Sequential Brands Exploring Bankruptcy Protection To Sell Assets
Sequential Brands Group Inc. is close to reaching a deal with lenders to file for bankruptcy protection in order to divest its portfolio of brands or sell the company, according to a report from Bloomberg. The company’s brands include AND1, Gaiam, SPRI and Avia.
Burlington Stores’ Debt Upgraded By S&P
S&P Global Ratings raised its issuer credit rating on Burlington Stores to ‘BB+’ from ‘BB’ as the off-price retailer’s sales continue to recover strongly as the U.S. emerges from the pandemic.
TJX’s Debt Ratings Upgraded
Moody’s Investors Service affirmed TJX Companies, Inc.’s senior unsecured rating at A2 and commercial paper rating at Prime-1. The rating outlook was changed to stable from negative.
Tilly’s Declares Special Dividend
Tilly’s Inc. announced today that its Board of Directors has declared a special cash dividend of $1.00 per share, or up to approximately $31 million in the aggregate, on the company’s outstanding Class A and Class B common stock.
National Retail Federation Boosts Annual Forecast
The National Retail Federation raised its outlook for the retail industry for the year as the economy accelerates its pace of recovery. Retail sales are expected to grow between 10.5 percent and 13.5 percent to an estimated total of $4.44 trillion to $4.56 trillion in 2021.
Danner Opens New Store In Denver
Danner ventured East from its headquarters in Oregon to open its latest retail location in Denver, CO located at Basecamp at Market Station.
Surf Technicians Hires VP Of Sales
Surftech announced the hiring of action sports industry veteran, Todd Stanley as VP of sales. Stanley has worked for Vans, DaKine and Reef.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal