Report: Sears May Liquidate Before Holiday Selling
A bankruptcy filing by Sears Holdings, the parent of Sears and Kmart, is expected as soon as Monday when a major debt payment comes due. But sources told the Wall Street Journal that some of the company’s major lenders are pushing for an outright liquidation to avoid any bankruptcy restructuring phase. A liquidation would waylay the fitness equipment category and add promotional pressures to holiday selling.
Aisle Talk Week Of October 8
Top headlines from the active lifestyle industry you may have missed this week, including Asics announcing the opening of an urban, large-scale, low oxygen training center in Tokyo in September 2019.
Asics To Operate New Low-Oxygen Training Center
Asics announced the opening of an urban large-scale low oxygen training center in September 2019. The training center will be housed within a multi-purpose facility in Tokyo’s futuristic Toyosu district and will be approximately 5,000 square meters and occupy the second and third floors of the facility.
Anta’s Takeover Talks With Amer Sports Advancing
Anta’s negotiations regarding with Amer Sports about a possible takeover are advancing, according to a report from Bloomberg. Sources indicated that Anta has talked to banks about financing for the transaction and is progressing with due diligence on Amer.
Merrell Launches Documentary Featuring Ambassadors Jason Antin And Mike Chambers
Merrell launched a video documentary titled “In Due Time” featuring ambassadors Jason Antin and Mike Chambers setting out to complete Greenland’s Arctic Circle Trail by foot in the fastest known time.
Adidas Hires New General Counsel
Adidas has hired Jan Heinemann, Bayer’s former U.S. head of law, patents and compliance, as the company’s newest general counsel, according to law.com.
Allbirds Raises $50 million
Allbirds, a San Francisco-based sneaker maker known for using sustainable material, raised $50 million in Series C funding. T. Rowe Price led and was joined by Fidelity and return backer Tiger Global.
The Buckle’s Comps Dip In September
The Buckle Inc. announced that comparable store net sales for stores open at least one year for the five-week period ended October 6, 2018 decreased 2.4 percent from comparable store net sales for the five-week period ended October 7, 2017.
Kevin Plank Discusses Under Armour’s Vision Quest
Speaking last week at the Advertising Week conference in New York City, Under Armour’s Kevin Plank spoke about the importance of brand values in driving sales and earning advocacy. The brand’s recent sales slump, according to the CEO, is partly because management neglected the company’s core purpose after years of growth.
Under Armour Signs Joel Embiid
Under Armour Inc. has added the Philadelphia 76ers’ star center Joel Embiid as an ambassador. The five-year deal makes Embiid the NBA’s highest-paid center on a shoe deal and he will have a signture shoe.
NBA’s Top Draft Pick Ensnared In College Basketball Scandal
On Wednesday at the college basketball corruption trial taking place in Manhattan’s federal court, Adidas consultant T.J. Gassnola, testified that the families of five recruits, Brian Bowen, Billy Preston, Silvio De Sousa, Dennis Smith and Deandre Ayton, received payments as a recruiting incentive.
Retail Imports Expected To Remain Strong
Imports at the nation’s major retail container ports are expected to remain at near-record levels in October despite a new round of tariffs that took effect in September, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Skechers Celebrates 10th Pier to Pier Friendship Walk With $2 Million Fundraising Goal
Backed by presenting sponsor Nickelodeon and media sponsor NBC4 Southern California, the Walk has topped donations every year since its inception, and is expected to continue its winning streak and surpass $2 million for the first time in the event’s history.
Zumiez’s Comps Expand 1.2 Percent in September
Zumiez said same-store sales increased 1.2 percent for the five-week period ended October 6.
Nike’s Kaepernick Campaign Garners Mixed Reaction In Cowen Survey
Nike’s “Just Do It” campaign featuring Colin Kaepernick received mixed reaction based on factors such as how much consumers earn annually and how much they spend with the brand, according to a survey published Wednesday by the investment firm Cowen.
