J. C. Penney Company Inc., which is reorganizing in bankruptcy proceedings, announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. The company will reduce its workforce by approximately 1,000 corporate, field management, and international positions.
Category: Footwear
Walmart To Mandate Face Coverings
Walmart, the nation’s largest retailer, will require all shoppers to wear masks at all its Walmart and Sam’s Club’s locations, effective next week.
360 Adventure Collective Cancels Southeast Summer Expo
360 Adventure Collective, the member association, has canceled the Southeast Summer Expo, which was to take place August 4-7 at the Greenville Convention Center in Greenville, SC.
Fanatics Partners With Tepper Sports & Entertainment
Fanatics reached a long-term agreement to become Tepper Sports & Entertainment’s (TSE) official omnichannel retail partner. Under the new deal, Fanatics will operate both the e-commerce and physical retail experiences at Bank of America Stadium for the NFL’s Carolina Panthers and Charlotte’s new MLS expansion franchise.
Intercollegiate Tennis Association (ITA) Adds Board Member
The Intercollegiate Tennis Association added longtime tennis industry professional Jill Fonte to the association’s Board of Directors. Fonte will join the Class of 2022.
Michigan’s Gazelle Sports Appoints First CEO
Gazelle Sports, the Michigan-based running specialty shop and athletic and fitness lifestyle retailer, appointed Jennifer Brummitt as Gazelle Sports’ first-ever CEO, effective immediately, as the company begins to transition its leadership structure from the original Partner Team.
Siege Sports Acquired By PE Firm
Siege Sports, a provider of custom athletic uniforms and apparel based in Kansas City, has been acquired by Bridge Lake Partners, a private investment firm.
Iconix Brand Group To Explore Sale
Iconix Brand Group, Inc., the parent of Starter, Pony, Umbro, Danskin and a number of other brands, said in a regulatory filing that its board has decided to broaden its exploration of strategic alternatives available to the company to enhance shareholder value, including a potential sale.
Under Armour Ends Partnership With Lacrosse Equipment Provider
Under Armour Inc. has ended its licensing agreement with Team 22, the exclusive licensee of all Under Armour lacrosse products since 2011.
On Denies It’s Preparing For An IPO
On, the Swiss running shoe brand, denied a report in the Swiss, German-language newspaper, NZZ am Sonntag, that it has started making plans to go public in the summer or fall of 2021.
Bass Pro Shops To Hire 5,000
Bass Pro and Cabela’s announced plans to hire 5,000 new employees nationwide due to strong demand amid the pandemic
Schuylkill Valley Sports Closing The Majority Of Its Stores
Schuylkill Valley Sports, based in Pottstown, PA, is closing nine of its 10 stores while continuing to operate its online operations and team business. The one store that will remain open is in Quakertown, PA and CEO and President Jason Lutz has vowed to open new stores with a fresh approach.
Authentic Brands Group LLC’s $150 Million Incremental First-Lien Term Loan Rated ‘B’
S&P Global Ratings assigned its ‘B’ issue-level rating to Authentic Brands Group LLC’s (ABG’s) proposed $150 million incremental first-lien term loan. ABG owns a portfolio of over 50 brands that include Spyder, Tretorn, Tapout, Prince, and Volcom.
MEC Undergoes Layoffs At Stores
Mountain Equipment Co-op (MEC), which operates 21 stores across Canada, has laid off a number of retail employees it formerly furloughed as it faces challenges managing during the pandemic.
Scheels Opens Store In Eden Prairie
Scheels on Saturday opened a two-story, 250,000-square-foot store at Eden Prairie Center at Eden Prairie, MN, replacing a smaller store.
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