VF Plans Re-Org To Support Greater China, Emerging Brands Growth

VF plans to hire its first president, Greater China. Kevin Bailey, executive vice president & Group President, APAC, will continue leading the Asia Pacific Region but will relocate to Denver, CO where he will also assume leadership of the company’s Emerging Brands platform including Altra, Eagle Creek, JanSport, and Smartwool brands as well as Kipling and Icebreaker brands in the Americas Region.

Golf Rounds Played Bounce Back In May

Golf rounds in May recovered to show a year-over-year gain of 6.2 percent as golf courses reopened across the country according to Golf Datatech. For the year-to-date period, rounds played are down 8.0 percent.

Boardriders Debt Ratings Downgraded

Moody’s Investors Service changed Boardriders Inc.’s outlook to negative from stable. The outlook change reflects the significant deterioration in earnings and cash flow resulting from the disruptions caused by COVID-19.

Nike Reports $790 Million Quarterly Loss

Nike Inc. reported a loss of $790 million, or 51 cents a share, in the fourth quarter ended May 31, driven by lower revenue and gross margin as a result of the COVID-19 impact on operations, partially offset by lower selling and administrative expenses.  Sales decreased 38 percent to $6.3 billion.

Sperry Names New VP Design & Development

Sperry, a division of Wolverine World Wide, Inc., has named Sean McDowell the new vice president of design and product development. In this role, he will focus on driving product innovation and elevating the Sperry brand.

OBIT: Frank Dassler

Frank Dassler, grandson of Puma founder Rudolf Dassler, has passed away at the age of 64. He was managing director of the Puma subsidiary in the USA from 1985 to 1987 and group general counsel at Adidas from 2004 to 2018.

UConn To Drop Four Sports

The University of Connecticut will eliminate four sports in the cost-saving move. Affected programs are men’s cross country, women’s rowing, men’s swimming & diving and men’s tennis.