Report: Colin Kaepernick Nearly Dropped Before Nike’s Anniversary Ad
Nike nearly ended the company’s contract with Colin Kaepernick in the summer of 2017 before moving this year to have the former quarterback play a prominent role in the brand’s 30th anniversary ad campaign, according to a report in the New York Times.
Walking Company Expands North Carolina-Based Distribution Center
The Walking Company Holdings Inc. announced the completion of an 83,000-square-foot distribution center expansion in Lincolnton, NC, to bring the total location size to 312,000 square feet.
Innovation Fueling Broad-Based Momentum For Nike
While Nike Digital led the way with a 34 percent gain on a currency-neutral in the first quarter, Nike Brand’s amplified focus on innovation is “at the heart of our continued momentum right now,” Mark Parker, CEO, said on the company’s conference call with analysts.
North America Growth Accelerates For Nike
An acceleration of growth in North America, double-digit gains overseas, and continued over-sized online gains drove Nike Inc.’s earnings ahead 14.9 percent in the first quarter ended August 31–exceeding internal expectations and Wall Street’s targets. Revenues grew 9 percent on a currency-neutral basis.
Timberland Hosts 21st Annual Serv-a-Palooza
Timberland is hosting the company’s annual Serv-a-Palooza volunteer initiative in more than 19 countries throughout the months of September and October. Timberland employees, partners and community members will address community-based needs around the globe from the company’s headquarters in Stratham, NH to Milan, Hong Kong, Mexico City and beyond.
New Zealand’s Kathmandu Sees 12 Percent Revenue Gain In Fiscal Year
Kathmandu Holdings Limited, the New Zealand and Australia-based outdoor retailer that recently-acquired the Oboz footwear brand, reported net earnings rose 32.9 percent in the year ended July 31 on an 117 percent revenue gain.
Timberland Renews Eyewear License
Marcolin Group, one of the world’s leading eyewear companies, and TBL Licensing LLC, announced the early renewal of the licensing agreement for the design, production and worldwide distribution of Timberland optical frames and sunglasses.
Nordstrom To Reopen Doors At Mall Of San Juan
Retailer Nordstrom Inc. on Tuesday announced plans to reopen the company’s store at the Mall of San Juan in Puerto Rico. Closed since fall 2018 as a result of severe damage from Hurricane Maria, the two-story, 138,000-square-foot store will open again to customers on Friday, November 9, 2018.
Under Armour Appoints Two To Senior Management Team
Under Armour Inc. on Tuesday announced two new additions to the company’s senior management team with the appointments of Alessandro de Pestel as chief marketing officer and Ann Funai as senior vice president, engineering.
Sears’ CEO Urges Broad Debt Restructuring
Sears Holdings Corp CEO Eddie Lampert’s hedge fund in a regulatory filing called on Sears’ board to sell $1.5 billion more in real estate and restructure $1.1 billion in debt in order to stave off a bankruptcy filing.
Brooks Offers Runners Incentives For Twin Cities Marathon
Brooks Running Company is inviting marathoners and 10 milers to participate in the “Outrun Yourself Challenge,” which encourages runners to strive for a new goal. Runners who improve their overall race time from 2017 will be awarded for their accomplishment with prizes including Brooks gear and entry into the 2019 Medtronic Twin Cities Marathon.
Boulder Cycle Sport Merges With Boulder Nordic Sport
Boulder Cycle Sport and Boulder Nordic Sport, two Boulder-based retail leaders, announced the merger of their business operations.
Moody’s Downgrades Academy’s Debt Ratings
The downgrade of the term loan reflects the company’s lower estimated recovery rate as a result of the recent asset-based revolver upsize. At the same time, the affirmation of the CFR and PDR reflects Moody’s view that while leverage is likely to remain elevated, Academy’s good liquidity provides the company with flexibility to turn around its operating performance.
Nike Celebrates Tiger Woods First Win In Five Years
Nike released some clever imagery honoring Tiger Woods and his victory at the recent PGA Tour Championship, his first PGA event win since 2013.
Stifel’s Inaugural Athletic Survey Shows Positive Spending Intentions
Stifel’s inaugural Athletic Apparel and Footwear Consumer Survey points to higher spending intentions for both athletic apparel and footwear in the next six months. Nike not surprisingly ranked as the preferred athletic brand across footwear and apparel categories but Under Armour, Adidas, Champion, New Balance, Vans, The North Face and Skechers are all resonating with key constituencies.
