Under Armour Downsizes Port Covington Headquarters Plan
Under Armour announced plans to redevelop its waterfront land in South Baltimore’s Port Covington as a global headquarters by 2025. Under Armour described the development as a “reimagine for a post-COVID environment” that will downsize its global corporate and Americas regional functions into one location with a hybrid office/home workplace model.
Adidas To Sponsor Boston Marathon Through 2030
The Boston Athletic Association (B.A.A.) announced that the organization has extended its longstanding official sponsorship with Adidas through 2030. The announcement marks more than 40 years of partnership between the athletic organizations.
Amer Sports’ Debt Ratings Outlook Raised On Potential Recovery
Moody’s Investors Service changed to stable from negative the outlook on the debt ratings of Amer Sports Holding on its expectations that sales and earnings will recover this year after both declined in 2020 due to the pandemic.
Hickies Puts Itself Up For Sale
Hilco Streambank announced that it is seeking offers to acquire the assets associated with the Hickies, the maker of no-tie shoelaces.
Boot Barn Appoints Board Member
Boot Barn Holdings Inc. announced that Chris Bruzzo, executive vice president, marketing, commercial, and positive play of Electronic Arts, has been appointed to its Board of Directors.
Report: Trevor Lawrence Signs Deal With Adidas
Trevor Lawrence, one of the most heralded college quarterbacks in years, has agreed to sign an endorsement deal with Adidas, according to a report from Sportico.
Birkenstock Assigned Preliminary ‘B’ Rating From S&P Following L Catterton Acquisition
S&P Global Ratings assigned a preliminary ‘B’ ratings on Birkenstock group’s senior debt rating following L Catterton’s announced plans to acquire a majority stake in the Germany-based footwear maker. The outlook is stable.
Foot Locker’s Debt Ratings Outlook Upgraded
S&P Global Ratings revised its debt outlook on Foot Locker Inc. to stable from negative on better-than-expected results for fiscal 2020, resulting in leverage in the mid-1x area compared with S&P Global Ratings’ previous expectation of over 3x for 2020.
Sequential Brands Posts Q4 Loss
Sequential Brands Group Inc. reported a loss in the fourth quarter in part due to a charge tied to exiting a lease on its headquarters. Revenues were down 4.1 percent. The company said it continues to evaluate strategic alternatives, including the divestiture of one or more existing brands or a sale of the company and seeks an extension of waivers to cover financial covenant defaults.
Birkenstock Opens Store In Brooklyn
Birkenstock opened a store in the Williamsburg section of Brooklyn. The Brooklyn store follows the successful openings of the brand’s first two U.S. company-owned retail stores in the SoHo neighborhood of New York City and in Venice Beach, CA.
Lids To Open In-Store Shops Inside DSW
Lids announced a partnership with Designer Brands Inc. to open fan apparel in-store shops inside 45 DSW and The Shoe Company locations throughout Canada. The locations include stores in Toronto, Calgary and Vancouver.
Inov-8 Opens First Brand Store In The UK
This morning, Inov-8 opened its first brand store in the outdoor hub of Staveley in the Lake District of the UK. \
March Retail Sales See Strong Rebound
Retail sales rebounded with huge gains in March as government checks fattened consumers’ bank accounts and more vaccinations against COVID-19 made it easier for shoppers to get out of the house and lead to the acceleration of the U.S. economy, the National Retail Federation said.
Puma, Olympics End ‘Tokyo 2020’ Trademark Tiff
The U.S. Olympic Committee and Puma SE appear to have ended their trademark dispute of the use of “Tokyo 2020” and other Olympic-games-related trademarks, according to a report from Law 360.
Wolverine Worldwide Appoints Board Member
Wolverine World Wide Inc. announced the appointment of Kathleen Wilson-Thompson to its Board of Directors, effective May 5, 2021. The retired executive previously led human resources for Walgreens and Kellogg Company.
