SGB Footwear

SGB Update

5.11, BOA and Primaloft Parent CODI’s Debt Ratings Downgraded

Moody’s said the downgrade reflects CODI’s “elevated financial leverage based on the restated financials, the uncertainty around the company’s ability to reduce leverage and generate sustained and comfortably positive free cash flow over the next 12 months.

Under Armour Faces Data Breach

Under Armour announced that it is investigating claims of a massive data breach after a cybercriminal posted millions of customer records to a hacker forum.

Target Appoints Former Nike and HanesBrands Execs to Board

Target Corporation appointed John Hoke, III, former chief innovation officer at Nike, Inc., and Steve Bratspies, former chief executive officer of HanesBrands, Inc., to its board of directors. Their appointments were announced, with Michael Fiddelke, chief operating officer, set to replace Brian Cornell as CEO on February 1.

PGA Tour Superstore to Open Fourth Store in Atlanta

PGA Tour Superstore plans to open a new store in Atlanta’s Buckhead Square on March 7, marking its fourth in the area. The Buckhead location will join locations in Roswell, Kennesaw and Duluth, GA, along with its Store Support Center headquarters.

SGB Executive

EXEC: New Era on Growth Path as Annual Sales Surpass $2 Billion

At the company’s ICR presentation last week in Orlando, Florida, company Co-President Jim Patterson and CFO Kevin Wilson also revealed the Buffalo, New York-based brand is generating solid profitability with EBITDA margins running above 20 percent.

EXEC: Next Buys British Footwear Brand Russell & Bromley

U.K.-based fashion retailer Next has purchased British footwear brand Russell & Bromley through an insolvency process, paying £2.5 million pounds ($3.4 million). Russell & Bromley is run by Andrew Bromley, the fifth generation of his family to hold the reins.