Kohl’s Adjusted Earnings Climb 12 Percent In Q4
Kohl’s Inc. reported earnings on an adjusted basis grew 12.3 percent in the fourth quarter to easily top Wall Street’s targets. Sales were down 10.1 percent.
Nike’s GM North America Exits
Nike Inc. announced that Ann Hebert, vice president and general manager, North America geography, has departed from the company, effective today, March 1.
Compass Diversified Announces Proposed Private Offering Of $750 Million Of Notes
Compass Diversified (CODI) said it intends to commence an offering of $750 million of senior unsecured notes due 2029 in a private offering.
NOBULL, CrossFit Ink Three-Year Games Title Sponsor, Apparel, Footwear Deal
CrossFit announced NOBULL will replace Reebok as title sponsor of the CrossFit Games and Official Footwear and Apparel Sponsor of CrossFit.
Dick’s SG Announces Grand Opening Of Four Stores In March
Dick’s Sporting Goods will expand its footprint with the opening of three Dick’s Sporting Goods locations and one Warehouse Sale location in March.
Berkshire Hathaway Sees 6 Percent Decline In Apparel/Footwear Sales In 2020
Berkshire Hathaway reported apparel and footwear revenues declined 6.1 percent in 2020 compared to 2019.
Adidas Opens Dubai Mall Flagship
Adidas announced the opening of a store at The Dubai Mall, its first flagship store in the United Arab Emirates region.
Moody’s Assigns B1 To Bass Pro’s Term loan
Moody’s Investors Service assigned a B1 rating to the proposed term loan of Great Outdoors Group, LLC, the corporate name of Bass Pro Group. Concurrently, Moody’s affirmed the company’s Ba3 corporate family rating (CFR) and Ba3-PD probability of default rating (PDR). The outlook remains stable.
Wolverine World Wide Scores S&P Upgrade
S&P Global Ratings revised the debt ratings outlook on Wolverine World Wide Inc. to stable from negative as the company has outperformed S&P’s expectations during the ongoing pandemic and paid off its $171 million 364-day term loan.
Boot Barn Appoints Gene Eddie Burt To Board
Boot Barn Holdings Inc. announced that Gene Eddie Burt, executive vice president, chief supply chain officer of Big Lots Inc., has been appointed to its Board of Directors.
L Catterton To Acquire Majority Stake In Birkenstock Group
Birkenstock struck a deal to sell a majority share of Birkenstock Group to private equity firm L Catterton and its affiliates with the inclusion of Financière Agache, Bernard Arnault’s family investment company.
Big 5 Sporting Goods Enters Into New Five-Year Credit Facility
Big 5 Sporting Goods Corporation announced that it has entered into a new loan agreement with Bank of America. The loan agreement replaces the company’s prior financing arrangement.
Foot Locker’s Q4 Comps Dip 2.7 Percent
Foot Locker Inc. reported earnings in the fourth quarter topped Wall Street’s consensus estimate but sales came in short. Same-store sales in the period fell 2.7 percent.
Under Armour Reduces Sponsorship Commitments By 47 Percent
Under Armour Inc. reduced its sponsorship commitments by 47 percent to $361.6 million in 2020 from $679.1 million in 2019, according to its just-released annual report.
REI Plans Special Member Reward Despite Annual Loss
REI reported that it didn’t make a profit in 2020 and consequently won’t be able to pay out its usual annual dividend to members. However, the Co-op said that because the year ended better than expected, a special reward would be paid to members.
