Gildan Activewear reported earnings on an adjusted basis were down 6.2 percent in the fourth quarter. Sales fell 11.3 percent as activewear sales were hurt by lower imprintables volumes in North America.
Category: Footwear
REI Ranks As Top Employer
REI Co-op was again recognized as a top employer, ranking 60 on Fortune’s 100 Best Companies to Work For list.
Wanda Sports Explores Sale Of Ironman
Wanda Sports Group Co., the China-based sports marketing and event promoter, is considering a sale of the Ironman triathlon business, according to a report from Bloomberg.
Adidas’ China Business Activity Tumbles 85 Percent Due To Coronavirus
Adidas reported Wednesday that its business in the greater China area had dropped by about 85 percent year-on-year in the period since Chinese New Year on January 25.
Puma’s Q4 Revenues Climb 21 Percent
Puma reported earnings jumped 55.0 percent in the fourth quarter on a 30.6 percent revenue gain. All regions and all product divisions were up by double digits. Puma warned, however, that the coronavirus outbreak has been impacting 2020 results.
Puma Signs Kendrick Nunn And Derrick Jones Jr.
Puma added Kendrick Nunn and Derrick Jones Jr., who both play for the Miami Heat, to the brand’s roster of NBA ambassadors.
Anta Sports Sees Coronavirus Outbreak Impacting First-Half Results
Anta Sports Products expects the coronavirus outbreak will impact its financial performance in the first half of 2020 but is aiming for a recovery in the second half, the Chinese company said in a stock exchange filing. Roughly 40 percent of the company’s stores in mainland China have re-opened.
Moody’s Assigns A3 Ratings To VF’s Proposed Euro Notes
Moody’s Investors Service assigned A3 ratings to V.F. Corporation’s proposed senior unsecured Euro notes. The stable outlook reflects Moody’s expectation that the company will maintain its strong position in the global apparel industry and sustain longer term positive trends in revenue growth while continuing to generate healthy operating margins.
S&P Reduces Boardriders’ Outlook To Negative
S&P Global Ratings lowered its debt ratings outlook on Boardriders Inc. reflecting our revised expectations for negative free operating cash flows (FOCF) through fiscal 2020 and the potential for a covenant violation.
Farfetch Raises $250 Million
Farfetch Limited, the London-based fashion marketplace, announced that it has agreed to issue and sell, via a private placement, convertible senior notes in an aggregate principal amount of $250 million.
Barneys New York To Close Remaining Locations On February 23
Barneys New York plans to close its remaining locations by February 23, according to a government filing.
Yue Yuen’s Sales Slide In January
Yue Yuen reported sales of $878.1 million in January against $924.0 million, a decline of 5.0 percent.
NBA To Lose ‘Hundreds Of Millions’ In China Over Hong Kong Tweet
NBA Commissioner Adam Silver said on Saturday that the league will likely lose “hundreds of millions of dollars” in lost sponsorships and broadcast revenue from its standoff with the Chinese government after an executive last year tweeted his support for Hong Kong’s protesters.
Michael Avenatti Found Guilty On All Counts In Nike Extortion Trial
Michael Avenatti, the celebrity lawyer, was convicted of all three charges related to his efforts to extort up to $25 million from Nike. Nike issued a statement after the guilty verdict: “The verdict speaks volumes. We thank the jurors for their time and service which is the bedrock of the American judicial system.”
Nike’s Chief Digital Officer Joins Epic Games
Adam Sussman, former chief digital officer at Nike, was appointed president of Epic Games, which makes numerous video games, including the popular Fortnite game.
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