Nike And Foot Locker Upgraded On Nike’s Innovation Pipeline
Nike was upgraded to “Buy” from Canaccord Genuity while Foot Locker was upgraded to “Outperform” by Wells Fargo. Both upgrades were tied to successful recent launches and bright prospects for future ones from Nike. Canaccord Genuity analyst Camilo Lyon also called Nike’s controversial Colin Kaepernick “Just Do It” anniversary campaign a “stroke of genius.”
NRF Announces New Programming And Networking Opportunities At Shop.org
The National Retail Federation announced a series of new programs, guest events and networking opportunities at this week’s annual Shop.org conference, which will be held Tuesday through Friday in Las Vegas.
REI Co-op’s First Alabama Store Will Open In Huntsville In Fall 2019
REI Co-op is opening the company’s first location in the state of Alabama, bringing a wide assortment of quality gear and expertise for the region’s most popular outdoor activities to Huntsville in fall 2019.
Skechers Claims Shareholder Lawsuit And Allegations Without Merit
Skechers USA Inc. in a statement denied the allegations in the recent alleged shareholder class actions filed by Laborers Local 235 Benefit Fund as frivolous and without merit, and plans on defending them vigorously.
Amer Sports Gets Takeout Bid From Anta
Amer Sports confirmed that the company received an indication of interest in an all-cash buyout from a consortium consisting of Chinese sports shoe company Anta and FountainVest Partners, a Hong Kong private equity group. The offer values Amer Sports at more than €4.6 billion ($5.3 bn).
Camping World Plans Co-Branded SuperCenter In Greenville
Camping World Holdings Inc.announced that the Overton’s showroom, located 111 Red Banks Road in North Carolina, will continue to operate with a multi-branded offering showcasing Overton’s water sport products, Gander Outdoors and Camping World products and services for the outdoor enthusiast in addition to Gander RV Sales.
Adidas Continues As Sponsor Of German Football Association
The German Football Association (DFB) and Adidas announced the extension of their partnership.
One Week In: Nike’s Kaepernick Saga
It’s been a week since Nike caused an nationwide uproar over the company’s decision to make Colin Kaepernick the face of the thirtieth anniversary of the company’s “Just Do It” campaign. Boycott threats, shoe burnings, and at least two colleges vowing to stop wearing and one store vowing to stop selling Nike product have arrived so far. But praise, loads of media exposure and indications of a sales bump also came.
Dick’s Sets Grand Opening For Four Stores
Dick’s Sporting Goods will be opening four new Dick’s Sporting Goods stores in September. The stores are in Sarasota, FL; North Port, FL; Tucson, AZ and Schererville, IN.
China Vows Retaliation If Trump Adds More Tariffs
China said Monday it would retaliate against the U.S. if President Donald Trump imposes more tariffs on Chinese goods, further escalating the global trade war between the two nations.
Under Armour Partners To Turn Vacant Lots Into Playgrounds
Community organizations in Baltimore, Los Angeles and Philadelphia will receive grants totaling $330,000 from ESPN, Under Armour and LISC to help transform vacant lots into sports, recreation and play spaces.
Retail Reports Roundup
Studies arrived showing Nike and Lululemon ranking high among favorite retailers for millennial and Gen Z consumers; Outdoor Voices landing among LinkedIn’s top startups and research on visual search, online personalization, Walmart’s online share gains and voice assistant shopping.
Yue Yuen’s Sales Climb 5 Percent In August
Yue Yuen Industrial Holdings Limited reported sales in August reached $799.5 million against year-ago revenues of $761.3 million, a gain of 5.0 percent.
Farfetch Expects To Raise $447 Million In IPO
London-based luxury online marketplace Farfetch expects to raise approximately $446.5 million in the company’s initial public offering, according to an updated regulatory filing.
Multi-Industry Coalition Urges USTR To Avoid Further Trade Escalation With China
The National Retail Federation and more than 150 organizations representing U.S. retailers, manufacturers, farmers, technology companies, natural gas and oil companies and other industries urged the Trump administration to avoid further escalation with China and warned of the negative impact of tariffs on American businesses, families and workers.
