Varsity Brands, the parent of BSN Sports, Varsity Spirit and Herff Jones, announced that it has successfully completed transactions that, in aggregate, raised a total of approximately $185 million in new capital to the company. Most notably, existing and new institutional investors have participated in a $150 million capital raise to provide greatly enhanced financial flexibility through the COVID-19 pandemic and for the foreseeable future.
Category: Sports/Fitness
AdvanSix Appoints New Chief Human Resources Officer
AdvanSix, a leading manufacturer of Nylon 6, appointed Kelly Slieter as senior vice president and chief human resources officer. She was at Honeywell.
Evander Holyfield Joins Fanatics “All In Challenge”
Evander Holyfield, the former 4-time heavyweight champion, has teamed up with the sports apparel company, Fanatics, and its “All In Challenge” to offer one fan and three friends a personal training session and private dinner with the champ in Fort Lauderdale, FL.
Seventy Percent Of Youth And Recreational Sports Have Resumed In The U.S.
TeamSnap, the provider of sports management technology, released new data that shows an estimated 70 percent of U.S. youth and recreational team sports activities have returned or are set to return in the coming month.
Modell’s Seeks Extension To File Bankruptcy Plan
Modell’s Sporting Goods is seeking a three-month extension of the time it has to file its bankruptcy plan due to challenges liquidating merchandise due to the pandemic. The retailer said its stores are now opening to start GOB sales.
Reports: Japan’s Renown May Face Liquidation
Japan’s Renown Inc., best known for its D’Urban and Arnold Palmer apparel brands, filed for bankruptcy in May and is on the facing liquidation, according to reports.
Delta Apparel Opening New Integrated Digital Print And Distribution Facility In Phoenix
Delta Apparel, Inc. is expanding its digital print business with the opening of a new integrated digital print and distribution facility in Phoenix, AZ, combining DTG2Go’s digital print business with Delta Apparel’s own supply of garments.
NGF Update: 20 Million Spring Rounds Lost To Covid-19
The U.S. golf industry lost as many as 20 million rounds of golf in March and April due to course closures and coronavirus-induced anxiety, according to the most recent National Golf Foundation estimates.
New Balance Makes Juneteenth A Paid Holiday
New Balance announced plans to close all operations, including owned stores, on Friday in observance of Juneteenth, which takes place on June 19 and commemorates the end of slavery in the United States.
J.C. Penney Reaches Deal To Resume Nike Shipments
J.C. Penney Co., which filed for bankruptcy last month, won court approval to free up $30 million in Nike products that the sportswear giant had been holding back in a dispute over allegedly unpaid pre-Chapter 11 bills.
Smith & Wesson’s Q4 Revenues Jump 33 Percent
Smith & Wesson Brands Inc. reported sales in the fourth quarter ended April 30 were $233.6 million compared with $175.7 million for the fourth quarter last year, an increase of 32.9 percent. The company showed a steep loss in the quarter due to an impairment charge for the Outdoor Products & Accessories segment, which is being spun-off, related to the negative impact of COVID-19 pandemic.
Target Bumps Starting Minimum Wage to $15/Hour, Adds Frontline Worker Bonus
Target will permanently raise its starting wage for U.S. employees to $15 per hour, commencing July 5, 2020. The move was announced with a range of updates and extensions to its pay and benefits programs.
NCAA Approves Plans For College Football’s Return
The NCAA Council approved a phased plan that, barring further complications of the coronavirus pandemic, will allow the 2020 college football season to start on time.
Fox Factory Holding Announces Pricing Of Upsized Common Stock Offering
Fox Factory Holding Corp. announced that it has priced its previously announced underwritten public offering of 2.4 million shares of the company’s common stock at a public offering price of $76.00 per share for gross proceeds to the company of $182.4 million.
Ben Hogan Golf Enjoys Surging Online Business Despite Golf’s Shutdown
Despite golf’s shutdown due to the COVID-19 pandemic, Ben Hogan Golf Equipment Company said it has enjoyed surging online sales, thanks to the company’s factory-direct business model through benhogangolf.com.
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