Authentic Brands Group (ABG) last week submitted an offer of around $1 billion to acquire Reebok from Adidas, according to the New York Post. ABG reportedly plans to partner with Wolverine World Wide, the parent of Saucony, Merrell and Sperry, on the bid.
Category: Footwear
Saks.com Raises $465 Million
Saks.com LLC, the recently spun-off online operations of Saks Fifth Avenue, has closed on a syndicated $350 million asset-based five-year revolving credit facility arranged by Bank of America, N.A., and a $115 million senior secured term loan arranged by Pathlight Capital LP.
RILA Calls For Consistent Mask Guidance
The Retail Industry Leaders Association (RILA) issued a statement calling on state and local governments to coordinate to reduce conflicting guidelines around mask mandates. The statement came after the CDC last week said fully vaccinated people no longer had to wear masks in most settings.
Burlington Stores Exec To Lead Tuesday Morning
Tuesday Morning announced that Fred Hand, formerly chief operating officer of Burlington Stores, has been named chief executive officer and a member of the Board of Directors, effective May 17.
L.L.Bean Announces New Charitable Partners
L.L.Bean announced plans to continue investing in a range of organizations and initiatives focused on supporting local communities and increasing outdoor access for all.
April Retail Sales Hold Mostly Steady From March
Retail sales were virtually unchanged from their strong performance a month before and grew dramatically year-over-year in April as the rapidly recovering U.S. economy marked a full year since the coronavirus pandemic shut down most stores during the spring of 2020, according to the National Retail Federation.
Yue Yuen Sees 27 Percent Sales Gain In First Quarter
Yue Yuen recorded revenue of $2,493.3 million in the three months ended March 31, 2021, representing an increase of 26.6 percent compared to revenue of $1,969.5 million in the same period of 2020. The increase in revenue was attributable to increased orders amidst the ongoing recovery of global demand for the Group’s products and an increase in production efficiency, on top of a low-base effect due to the COVID-19 pandemic in 2020.
Dillard’s Sales Rebound In First Quarter
Dillard’s, Inc. reported a profit against a loss in the first quarter ended May 1 as sales surged 73 percent against the pandemic-depressed year-ago quarter.
Nike To Require Headquarter Employees To Work Three Days A Week In Office
Nike will require employees in its U.S. headquarters in Beaverton, OR work three days a week in the office, with the option to work up to two full days remotely.
SportChek’s Comps Climb 19 Percent In First Quarter
Canadian Tire Corp. reported SportChek’s retail sales increased 10.0 percent in the first quarter and comparable sales were up 18.7 percent over the same period.
Asics Sees Q1 Sales Climb 25 Percent
Asics Corporation reported sales rose 24.8 percent in the first quarter. Sales in the North America region rose 20.1 percent on e-commerce gains and the region returned to profitability.
Mizuno Fiscal Year Revenues Decline 11 Percent
Mizuno Corp. reported sales were down 11.4 percent in its fiscal year ended March 31. Sales in the Americas region fell 6.4 percent but profitability improved.
Adidas Supervisory Board Extends Appointment Of Martin Shankland
Adidas’ Supervisory Board extended the appointment of Executive Board member Martin Shankland, responsible for Global Operations, by five years
beyond 2022 until 2027.
Genesco Appoints Chief Strategy And Digital Officer
Genesco Inc. announced that Parag Desai has been named Genesco’s senior vice president – chief strategy and digital officer. He previously served as senior vice president, strategy, and shared services since December 2014.
La Sportiva Appoints Southeastern Sales Reps
La Sportiva announced that John and Brad Dorough, co-owners of Vertical Momentum Rep Agency, will represent La Sportiva NA in the Southeast effective immediately.
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