Under Armour, Inc. announced that it has priced $440 million aggregate principal amount of its 1.50 percent convertible senior notes due 2024, which represents an increase of $40 million from the offering size previously announced.
Category: Sports/Fitness
Foot Locker Shows Steep Loss In Q1
Foot Locker Inc. reported a net loss of $98 million in the first quarter as sales dropped 43.4 percent. Said Richard Johnson, chairman and chief executive officer, “Thanks to the unwavering efforts of our team, we are in the early stages on our road to recovery. Our phased reopening of stores is underway, and our plan is to build, be back, and be better than before.”
5.11 Appoints VP Of Global Product
5.11, Inc., the maker of technical apparel, footwear and gear, welcomed Matt Page, former executive at brands like The North Face, Under Armour and Mountain Hardwear, to 5.11’s executive team as vice president, global product.
Cotton Council International Joins Sustainable Apparel Coalition
Cotton Council International (CCI) announced that it has joined the Sustainable Apparel Coalition (SAC) and will use the group’s sustainability measurement suite of tools, the Higg Index, to drive environmental and social responsibility throughout its supply chain.
Lululemon Provides Update On Phased Global Store Reopening Plan
Lululemon Athletica Inc. said it has reopened over 150 store locations across North America, Europe, Asia, New Zealand and Australia, with approximately 200 additional locations set to reopen over the next two weeks.
Hummel Replaces Umbro As Everton Sponsor
Everton, the Premier League club, has agreed to a three-year kit deal with the Danish sportswear company Hummel. Umbro has been the sponsor since 2014.
Deckers Brands’ Q4 Profits Slide
Deckers Brands Inc. reported earnings on an adjusted basis were off 35.3 percent as sales slid 4.9 percent. A 51.8 percent hike in Hoka One One’s sales was unable to offset a 17.9 percent decline at Ugg tied to store closures.
SFIA Survey: COVID-19 Hits Industry Hard, Yet Fitness Surges
Over 70 percent of sports and fitness manufacturers and businesses reported a sales drop of over 25 percent for the month of April (comparing April 2020 sales to April 2019 sales), with 30 percent of respondents reporting a sales drop of over 75 percent, according to SFIA’s COVID-19 Response Survey. However, there were pockets of strength: home fitness equipment and at-home sports equipment sales grew in the same period.
Nike To Let Liverpool End Season With New Balance
Liverpool, the English Premier League club positioned to win its first title in more than 30 years, has reached a settlement with Nike that will allow the team to continue to wear their New Balance kit until the end of the season.
Pop Warner Partners With Super Fan Sports Fundraising
Pop Warner Little Scholars, Inc., the nation’s oldest youth football, cheer and dance organization, recently named Super Fan Sports Fundraising as an official fundraising partner through 2022, giving programs an online fundraising option that allows them to reach their needs even during times of widespread public health emergency.
Under Armour To Offer $400 Million Convertible Senior Notes Due 2024
Under Armour Inc. announced that it proposes to offer $400 million aggregate principal amount of its convertible senior notes due 2024.
New York Road Runners To Deliver Virtual Experiences On Global Running Day
New York Road Runners (NYRR) announced its virtual and digital experiences for Global Running Day on June 3. This year’s observance will digitally unite people across the world to encourage physical wellness, strengthen community, and offer support.
Equinox Holdings’ Debt Rating Lowered
S&P Global Ratings lowered the debt rating of Equinox Holdings Inc. following the fitness club operator’s closing on an amendment to its partial guarantee on the credit facility of its affiliate company SoulCycle Inc. that will allow it to defer its required repurchase of the affiliate’s debt to February 2021. S&P said it views the move as tantamount to a default.
Decathlon Introduces Scan & Go In Germany
Decathlon, the world’s largest sporting goods retailer, announced it is rolling out a mobile self-checkout solution across its 81 German stores.
Report: Orlando/Disney World Seen As Frontrunner For NBA’s Return
Orlando’s Walt Disney World has reportedly emerged as a front-runner to host NBA games if the 2019-20 season resumes this summer. Las Vegas also remains an option.
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