NRF Advocates For Federal Help For Small Businesses
The National Retailer Federation (NRF) in a statement said data indicating that small business owners are increasingly pessimistic about the coronavirus shows the need for continued economic stimulus measures.
Shopify Hires Former Adidas Exec Jon Wexler
Jon Wexler, the former Yeezy GM at Adidas, will become VP of Shopify’s creator and influencer program.
Under Armour Announces Thanksgiving Store Closures
Under Armour, Inc. announced plans to close all UA Brand House and UA Factory House retail locations in the United States for Thanksgiving . All U.S. retail locations will re-open to the public on Friday, November 27.
Adidas Places Two Bonds In The Amount Of $1 Billion
Adidas successfully placed two bonds in an amount of €1 billion in total. The 4-year bond of €500 million matures in September 2024 and has a coupon of 0.00 percent, while the 15-year bond of €500 million matures in September 2035 and has a coupon of 0.625 percent.
Adidas Extends Partnership With Belgian KVBV
Adidas extended its kit supplier agreement with the Belgian Football Association (KBVB) for six more years until 2026.
Nordstrom Appoints Men’s Fashion, Editorial Director
Nordstrom has appointed Jian DeLeon, former editorial director of Highsnobiety, as men’s fashion editorial director.
The Buckle’s August Comps Increase 1.7 Percent
The Buckle Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended August 29, 2020 increased 1.7 percent from comparable store net sales for the 4-week period ended August 31, 2019.
VF Corp. x Timberland Collaborate With Redress
VF Corporation, together with its Timberland brand, announced a collaboration with Redress for the Redress Design Award 2020.
Robin Hood CEO Joins Under Armour Board Of Directors
Under Armour Inc. announced that Wes Moore has been appointed to its Board of Directors effective October 1, 2020. Moore, 41, is CEO of the Robin Hood Foundation, a nonprofit that finances over 500 organizations serving children, families and communities.
Tilly’s Q2 Sales Dip 16 Percent, Sees Significant Q3 Decline
Profits at Tilly’s Inc. fell 43.0 percent in the second quarter as sales declined 16 percent. Second-quarter results exceeded internal expectations given that stores were closed for parts of the quarter, but Tilly’s warned that third-quarter sales have been “significantly impacted” by delayed back-to-school selling.
Dick’s SG Announces Grand Opening Of Three Stores In September
Dick’s Sporting Goods will expand its national footprint with the opening of one Dick’s Sporting Goods store, one combination Dick’s and Golf Galaxy location and one Golf Galaxy store in September. The stores are in San Antonio, TX; Myrtle Beach, SC and Westminster, CO.
Designer Brands’ Q2 Revenues Drop 43 Percent
Designer Brands Inc., the parent of DSW, reported a net loss of $98.2 million in the second quarter as sales declined 43 percent. The parent of DSW said it was able to bolster liquidity and inventory was down 37 percent to position the company for fall selling.
Genesco’s Q2 Revenues Slide 20 Percent
Genesco Inc. reported a second-quarter loss as sales decreased 20 percent. A 144 percent e-commerce growth wasn’t able to offset stores only being open about 70 percent of days in the period. The parent of Journeys, Johnston & Murphy and Schuh, said it was able to generate $74 million of operating cash flow.
OIA Partners With People For Bikes On Climate Action
Outdoor Industry Association (OIA) and PeopleForBikes (PFB) have announced a partnership through which PFB members — bicycle manufacturers and retailers — will be able to join the OIA Climate Action Corps, a collaborative model for alignment, action and accountability to achieve industry-wide greenhouse gas (GHG) emission reductions in accordance with Intergovernmental Panel on Climate Change (IPCC) guidelines.
Adidas Global Creative Director Exits Over Controversial Comments
Adidas global creative director Paul Gaudio has left the company, effective August 31, according to an internal memo from the company. The memo did not give a reason but it arrived two days after Gaudio left a controversial comment on a Complex Instagram post.
