DW Sports, which operates 73 gyms and 75 stores across the U.K., said it plans to enter into administration. All of its stores will close, but DW plans to work with administrators from BDO to save as many gyms as possible.
Category: Footwear
OR Parent’s Q2 Results Marred By Event Cancellations
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, reported a steep decline in revenues in the second quarter due to event cancellations tied to COVID-19 but saw a more modest decline in earnings due to the arrival of initial claims confirmed under its event cancellation insurance policy.
Hurley Family Acquires Simple Footwear Brand
Kandui Holdings LLC, founded by the Hurley family, through its new operating entity Simple Shoes LLC, has acquired the outstanding assets and intellectual property of Simple from KTSimple LLC.
Emerald Holding Announces Election Of New Preferred Stock Directors
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, announced that OPV GEM Aggregator LP, the majority holder of the outstanding shares of Series A Convertible Participating Preferred Stock of Emerald Holding, Inc., elected Lynda Clarizio and David Levin as Preferred Stock Directors to the company’s Board of Directors, effective immediately.
Nike Partners With Naomi Osaka On Program To Change Girls’ Lives Through Sport
Nike has partnered with tennis star Naomi Osaka and Laureus Sport for Good to start a new grassroots sports program, Play Academy with Naomi Osaka, designed to train and inspire girls through sport.
VF Corp Appoints President, Greater China
VF Corporation announced the appointment of Winnie Ma to the new position of president, Greater China. Ma joins VF following a 10-year career at Unilever, North Asia, where she most recently led the Beauty & Personal Care category business.
Designer Brands Eliminates Over 1,000 Positions
Designer Brands, the parent of DSW, announced that the company will eliminate over 1,000 positions, including about 380 corporate staff and 700 store roles, according to a memo from CEO Roger Rawlins.
Backcountry CEO Joins Revolve Board Of Directors
Revolve Group, Inc. announced the appointment Melanie Cox, CEO of Backcountry, to its board of directors, as well as the audit and compensation committees, effective immediately.
Golf Equipment U.S. Sales Jump 51 Percent In June, According To NPD
As golf courses around the United States continue to reopen, golf equipment dollar sales grew by 51 percent in June compared to the same month last year, building off of the market’s 22 percent growth in May, according to The NPD Group.
Lord & Taylor Files For Bankruptcy
Lord & Taylor, the oldest U.S. department store chain, has filed for bankruptcy protection with a plan to liquidate its stores
Newell Brands Sees 20 Percent Sales Drop In Outdoor & Recreation Segment
Newell Brands said sales at its Outdoor & Recreation segment, which includes Coleman and Marmot, fell 20.3 percent to $353 million from $443 million a year ago. The decline reflected a core sales decline of 21.5 percent and the impact of unfavorable foreign exchange.
VF’s Q1 Sales Fall 48 Percent, But Bounce Back In China
VF Corp. reported a net loss of $285.6 million, or 73 cents a share, in the first quarter ended June 30 as revenues tumbled 48 percent. The loss was 10 cents better and sales were slightly above Wall Street’s targets. VF said it has seen recovery in China and expects revenues for the current quarter to be down less than 25 percent.
Under Armour Posts Steep Loss In Q2
Under Armour reported a net loss of $183 million in the second quarter ended June 30, including $39 million in restructuring charges. Revenues were down 41 percent. Sales topped Wall Street’s target but losses were significantly below. Sales in North America were down 45 percent.
Deckers Brands Posts Solid Quarter On Strong DTC, Hoka and Domestic Gains
Deckers Brands reported that net sales for the first fiscal quarter ended June 30 increased 2.3 percent to $283.2 million compared to $276.8 million for the comparable period last year. The basic loss per share was 28 cents a share compared to a basic loss per share of 67 cents in the comp period last year.
Modell’s Sets Stalking Horse Bid For IP Assets
Hilco Streambank, an intellectual property advisory firm, announced the pending sale of the intellectual property assets of Modell’s Sporting Goods with the execution of a stalking-horse bid for the assets at $1.97 million.
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