EXEC: JD Sports Reports Fidelity Subsidiaries Fall Below 5 Percent Voting Rights
FMR LLC has seen its voting rights percentage fall below the 5 percent threshold for reporting purposes to 4.95 percent of JD voting rights. JD Sports is the parent of the JD, Hibbett, Finish Line, DTLR, and Shoe Palace retail brands in the U.S.
Accell Group Undergoes Debt Restructuring
Backed by Kohlberg Kravis Roberts & Co (KKR), Accell Group agreed to a restructuring that writes off 40 percent of its debt and will see its liabilities at the operating group level cut to €800 million ($881 million) from €1.4 billion, with maturities extended through to 2030.
Gill Marine Taps Travis Watson as National Sales Manager, Gill Fishing
The company said Watson brings a wealth of experience to his role, with 20 years experience in sales, buying, product development, and sourcing in the hunting and fishing space.
Paka Expands Senior Leadership to Fuel Brand Growth
The Peru-based sustainable apparel brand hired Christian Castellani as director of wholesale sales, Matt Etzler as senior director of e-commerce, Erika Marsh as senior director of supply chain and operations, and Megan Krajco as design director. Paris Karstedt was promoted to director of brand and marketing.
Coal Headwear Names Sales & Marketing Manager
Mike LeBlanc will “modernize the brand’s marketing approach, expand sales channels and elevate Coal’s presence in the global headwear market.”
NuOrder by Lightspeed Appoints New Head of Revenue
Chris Akrimi, most recently, was the CEO of The Layer, a tech company that “transforms commerce data through AI. ” There, he focused on positioning the company at the “forefront of AI-driven product data management.”
Footasylum Secures Funding to Drive Expansion
The company secured a £35 million ($46 mm) revolving credit line from HSBC to support expansion and sustainability initiatives, and set a goal to achieve carbon net zero for Scope 1 and 2 emissions by 2030 and Scope 3 by 2040.
Adidas’ UK Sales Fall 9 Percent in 2023
Companywide, Adidas’ sales in 2023 declined 5 percent to €21.4 billion in Euro terms with flat currency-neutral revenues. The discontinuation of the Yeezy business represented a drag of around €500 million on the year-over-year comparison during 2023.
EXEC: Outdoor Industry Association Partners With Switchback Trade Show
OIA ended its 30-year partnership with Outdoor Retailer trade show this past July and will now support a twice-annual outdoor trade show. The year-round partnership will debut at the inaugural Switchback Spring in Nashville, TN from June 16 to 18, 2025.
Orvis Sets Layoffs and Store Closures; Discontinues Catalog
The 112 employees affected by the layoffs represent 8 percent of Orvis’ workforce. In the U.S., Orvis operates 70 retail stores and 10 outlets. In the UK, the company operates 18 retail stores and one outlet. The company did not disclose what store would be affected by the closures.
EXEC: Vista Inks Deals to Sell Revelyst and The Kinetic Group Separately
Vista Outdoor Inc. entered into a definitive agreement to sell its Revelyst outdoor segment to funds managed by Strategic Value Partners and amended its merger agreement with Czechoslovak Group (CSG) to acquire The Kinetic Group ammunition-related segment.
Salomon Opens Pop-Up In New York City, Plans Store Openings
The brand’s first store in SoHo, will serve as a test for Salomon as it plans to open five stores in 2025, beginning with a permanent space in New York City.
Manufacturing PMI Report Sees U.S. Contraction; Textile Mills Posted Sept Growth
Seventy-seven percent of manufacturing gross domestic product (GDP) contracted in September, up from 65 percent in August. Textile Mills were one of only five manufacturing industries reporting growth in September.
U.S. Port Workers and Operators Reach Deal to Suspend East Coast Strike
In a joint statement on the evening of October 3, the ILA and USMX reached a tentative agreement on wages and extended the group’s “Master Contract” until January 15, 2025, when they will return to the bargaining table to negotiate all other outstanding issues.
Thermore Invisiloft: High Warmth with Minimal Thickness
Thermore Group, a Milan-based manufacturer of thermal insulation alternatives for performance apparel since 1972, has launched Invisiloft, a slim insulation that combines “exceptional warmth with unprecedented thinness.”
