Yue Yuen Manufacturing Business Revenues Falls 24.2 Percent in June
Yue Yuen Industrial (Holdings) Limited, a subsidiary of Pou Chen Corporation that manufactures a large percentage of global athletic and outdoor footwear, reported that its net consolidated operating revenue for June was $676.8 million, an 18.9 percent decline year over year.
On Holding Secures CHF 700 Million Credit Facility
On Holding AG said in a regulatory filing that it had entered into a CHF 700 million multicurrency credit facility agreement led by UBS Switzerland AG.
Under Armour’s Principal Accounting Officer To Exit
Under Armour reported in a regulatory filing that Aditya Maheshwari, senior vice president and principal accounting officer, was leaving the company on August 25 to work for a public company. CFO David Bergman will be appointed on that date as the principal accounting officer for UA.
Nike Canada Investigated by Canadian Ombudsperson for Responsible Enterprise
Nike Canada Corp. is alleged to have or have had supply chains or operations in the People’s Republic of China identified as using or benefitting from the use of Uyghur forced labor.
Grassroots Sees a Mostly Positive Outlook at Connect; Inventory Still a Worry
Grassroots Outdoor Alliance (GOA) reported that specialty retail has had a strong year-to-date for 2023 as more than half of Grassroots retailers met or exceeded 2022 growth.
Balega Founders Launch New Specialty Running Sock Brand
Tanya and Bert Pictor, the founders of Balega Socks, and Luke Rowe, a running industry veteran, have launched a new running sock brand, Jogology, to be sold exclusively at run specialty stores beginning in September.
Ebay Closes on Acquisition of AI-Powered Digital ID, Authentication Provider
Ebay, Inc. reported it completed the acquisition of Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication. Based in Milan, Certilogo leverages digital technology to empower brands and designers to manage the lifecycle of their garments.
HanesBrands Names CFO
HanesBrands reported that its interim chief financial officer, Scott Lewis, was appointed chief financial officer effective immediately. Lewis will also continue as chief accounting officer, a position he has held since 2015.
Academy Sports + Outdoors Appoints New CFO in Role Transition
Academy Sports + Outdoors Inc. promoted Carl Ford to executive vice president and chief financial officer, effective July 12. He succeeds Michael Mullican who recently transitioned to president.
Study: June Mall Index Finds Mall Visits on the Rise Again in the U.S.
After four straight months of year-over-year visit declines, indoor malls, open-air lifestyle centers and outlet malls saw YoY visits rebound significantly in June 2023.
Dick’s SG Tops Active Lifestyle Chains on 2023 NRF Top 100 Retailers List
Dick’s Sporting Goods, once again, is the largest U.S. retailer with prominent active lifestyle offerings on the National Retail Federation’s annual list of the Top 100 Retailers. Among active lifestyle chains, Dick’s was followed in the top five by Bass Pro, Camping World, Academy Sports, and Foot Locker.
Designer Brands’ Dutch Auction Tender Offer Priced At $10 A Share
Designer Brands, Inc.’s Dutch auction tender offer, which expired on July 7, was priced at $10.00 a share, the upper end of its raised $8.75 to $10.00 range.
DBI Names New President of DSW Designer Shoe Warehouse
Designer Brands, Inc. named Laura Denk, president of DSW Designer Shoe Warehouse and EVP of Designer Brands, effective July 24.
Skechers Partners with Pickleball England
Skechers continues to invest heavily in its sponsorship of pickleball events and was recently named the official footwear sponsor of the 2023 English Open and the English Nationals’ pickleball tournaments.
Nike Extends Contract with Inter Milan
Inter Milan announced it extended its contract with kit supplier Nike. The collaboration started in 1998. Nike will continue designing match and training kits for Inter Milan’s men’s, women’s and youth teams, including lifestyle collections.
