NRF Statement On Administration’s Infrastructure Plan
National Retail Federation President and CEO Matthew Shay said, “We appreciate the President’s attention to the urgent need to rebuild America’s outdated infrastructure, which has long been a priority for NRF and our members.”
Bearpaw Makes Major Expansion Moves In Europe And China
Bearpaw, the maker of fashion footwear for men, women, and children, has taken another big step towards expanding their presence in Europe and China with the establishment of two new entities.
Puma Operating Profits More Than Double In Q4
Puma reported fourth-quarter earnings slightly more than doubled with the help of strong sales growth combined with an improved gross profit margin. Puma also said it expects currency-adjusted net sales will increase by approximately 10 percent in 2018.
Yue Yuen’s Sales Dip 1.8 Percent In January
Yue Yuen reported consolidated operating revenue reached $737.1 million in January, down from $750.5 million a year ago.
Iconix Brand Group Announces Private Exchange Of $110 Million Of Its Convertible Note
John Haugh, CEO of Iconix, commented, “These exchange transactions are part of the company’s strategy to satisfy near-term debt obligations and represent a positive step in improving our balance sheet. We are also announcing a cost savings initiative to improve our profitability and free cash flow.”
Puma And AC Milan Announce Long-Term Partnership
Puma and Italian Serie A football club AC Milan announced an official long-term partnership. The legendary club had been with Adidas since 1998.
Starboard Delivers Letter To Newell CEO And Board Of Directors
In a letter to the board of Newell, Starboard Value LP said it plans to nominate three former Jarden executives (Ian G.H. Ashken, Martin E. Franklin and James E. Lillie) and a former long-time Newell Director (Domenico De Sole) to its slate of director candidates to oversee a turnaround of the company.
L.L. Bean Drops Unlimited Returns Policy
L.L. Bean has ended its lifetime-returns policy due to rampant abuse in recent years. The retailer has initiated a new one-year limit on returns.
U.S. Soccer Elects Carlos Cordeiro President
U.S. Soccer’s membership elected Carlos Cordeiro as U.S. Soccer’s 32nd President during the National Council Meeting at the Federation’s Annual General Meeting (AGM).
Frank A. Dassler To Retire From Adidas
According to Adidas, Frank A. Dassler retired at the end of January. The grandson of Puma founder Rudolf Dassler, was most recently head of the Adidas legal department and will remain closely associated with the sports equipment company in retirement.
Aisle Talk, Week of February 5
Top headlines from the active lifestyle industry you may have missed this week.
Columbia Q4 Boosted By Improving U.S. Business
President and CEO Tim Boyle said, “In the fourth quarter, the U.S. wholesale channel played a significant role contributing to our top line beat relative to our October outlook, aided by improved order conversion.”
Champion Grows Double-Digits In Q4
“We think Champion is doing really well,” said HanesBrands’ CEO Gerald W. Evans Jr. on a conference call with analysts. “It’s got a lot of upside to it from a global standpoint.”
Skechers Delivers Blowout Q4
With all distribution channels delivering double-digit growth, Skechers USA reported fourth-quarter results that came in well above guidance.
LVHM Luxury Venture Partners With Stadium Goods
LVHM Luxury Ventures has formed a “partnership” with Stadium Goods, the New York City-based sneaker consignment giant.
