Buckingham Raises Price Target On Nike
Buckingham wrote in a note that by the second half of its fiscal year, Nike should see healthier sales from new product launches, fewer products selling at markdowns overall in the marketplace, and a benefit for a change from foreign exchange fluctuations.
Cherokee’s CFO Plans To Resign
Cherokee Global Brands announced the resignation of Jason Boling as chief financial officer effective January 31, 2018, and the appointment of Steven Brink.
Nike Extends Deal With Sport Club Corinthians Paulista
Nike renewed and extended its sponsorship of Brazil’s soccer club, Sport Club Corinthians Paulista, until 2029.
HanesBrands Favorably Amends Senior Secured Credit Facility
The amended credit facility reduces interest rates, increases capacity, and increases the flexibility of the facility’s indebtedness, investment and restricted payments baskets, and leverage-ratio requirements.
Report: Rockport Exploring Financial Alternatives
Rockport is exploring financial alternatives, including a debt refinancing or an equity infusion that may lead to a sale, sources told Reuters.
Saucony Sponsors Molly Huddle To Run Boston Marathon
Saucony announced that Molly Huddle, two-time Olympian and three-time winner of the Boston Athletic Association (BAA) 5K, will make her Boston Marathon debut at the 122nd edition of the race on April 16, 2018.
Sports Direct’s U.S. Operations Lands In Red In First Half
Sports Direct reported underlying EBITDA in its U.S. Retail segment, including Eastern Mountain Sports and Bob’s Stores, showed a loss of £23 million due in large part to impairment charges.
Aisle Talk, Week Of December 11
Top headlines from the active lifestyle industry you may have missed this week.
Under Armour Partners With Team Canada Through 2024
Under Armour and the Canadian Olympic Committee named Under Armour as the Official High Performance Footwear Supplier for Team Canada for the next eight years.
Canaccord Genuity Upgrades Foot Locker To “Buy”
Canaccord Genuity raised its rating on Foot Locker to “Buy” from “Hold” due to signs of improving footwear trends, the benefits of its supply chain enhancements and its “strong and symbiotic” relationship with Nike.
Stifel Nicolaus Upgrades Under Armour And Crocs
Stifel Nicolaus upgraded Under Armour and Crocs to “Buy,” lowered Fitbit to “Sell” and lifted it price target on Nike.
Sports Direct’s U.S. Operations Post Loss On Charges
Sports Direct reported underlying EBITDA in its US Retail segment, including Eastern Mountain Sports and Bob’s Stores, was a loss of £23.0 million in the first half ended October 29 on sales of £63.9 million.
Sporting Goods Stores Sales Rebound in November
Retail sales in November increased 0.9 percent over October on a seasonally adjusted basis and were up 6 percent year-over-year unadjusted, according to calculations released by the National Retail Federation.
Niketown London Gains Augmented Video Mapping Customization
The NIKEiD Direct Studio is a partnership with Paris-based SmartPixels.
Adidas Disbands Digital Sports Business Unit
Adidas has discontinued its Digital Sports business unit, possibly impacting 74 jobs. The realignment will entail the company consolidating some of its apps to focus on Runtastic and its relaunched Adidas app.
