Skechers USA Inc. announced that Zulema Garcia has been named to its Board of Directors and appointed to serve on the company’s Audit Committee. The company also announced that four current members—Jeffrey Greenberg, Geyer Kosinski, Richard Rappaport, and Tom Walsh—have resigned from the Board bringing the total number of directors to seven.
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Alpargatas To Buy Rothy’s Stake
Alpargatas SA, the Brazilian owner of flip-flop sandal maker Havaianas, reached an agreement to buy as much as 49.9 percent of sustainable footwear brand Rothy’s, Inc. Rothy’s earns a valuation of $1 billion with the transaction.
Nike’s Q2 Exceeds Wall Street Targets
Nike Inc. reported earnings for the second quarter ended November 30 rose 7 percent and easily topped Wall Street’s consensus target. Sales inched up one percent, led by Nike Brand Digital growth of 11 percent, while gross margins improved 280 basis points.
Reebok Secures Commitment From JD Group
Authentic Brands Group (ABG), which reached an agreement to acquire Reebok in August, announced a new strategic partnership with the JD Group (JD). Through the long-term agreement, JD will carry Reebok apparel and footwear in more than 2,850 of its company-owned stores and websites.
Marucci Sports Follows Baseball’s Recovery To Record Year
At Compass Diversified Holdings (CODI) recent Investor Day event, Kurt Ainsworth, CEO of Marucci Sports, told the story on Marucci’s success, its devotion to the game of baseball and identified five incremental growth opportunities.
Mastercard: Holiday Shopping Survey Shows Consumers Prefer Online Shopping And Gift Cards
While consumers are returning to their in-store shopping routines, according to a recent Mastercard survey, 56 percent of shoppers have continued to prioritize online shopping this holiday season, citing waiting in lines (72 percent), finding parking (65 percent) and items being out of stock (47 percent) as primary reasons.
USA Cycling Appoints New CEO
USA Cycling appointed cycling industry veteran and USA Cycling Chairman of the Board, Brendan Quirk, to be its next CEO, replacing Rob DeMartini.
Academy Sports Appoints Board Member
Academy Sports and Outdoors Inc. announced the appointment of Chris Turner to its Board of Directors and Audit Committee. With this change, Academy’s Board now comprises ten directors. Turner has served as the chief financial officer of Yum! Brands since 2019.
Under Armour’s Debt Ratings Upgraded
Moody’s Investors Service upgraded Under Armour, Inc.’s debt ratings due to better-than-expected revenue and earnings growth. Mike Zuccaro, Moody’s vice president, said, “”With improved profitability, a much stronger balance sheet and very good liquidity, the company is well positioned to weather the lingering effects of the pandemic.”
Retail Trade Groups Applaud Congressional Ban On Goods From Xinjiang
Retail Trade Groups, including American Apparel & Footwear Association (AAFA) and National Retail Federation (NRF), issued a joint statement cheering Congressional passage of the Uyghur Forced Labor Prevention Act, H.R. 6256, which bans the import of goods from areas of China allegedly using forced labor.
Skechers Expands Senior Unsecured Credit Facility Up To $1 Billion
Skechers USA Inc. announced that it has expanded its senior, unsecured credit facility to $750 million, which retains a $250 million accordion feature.
Aqua-Leisure Adds Talent To Support Growth
Aqua-Leisure Recreation, LLC. announced the expansion of its team with the addition of 14 new hires and five promotions across its North America and Asia offices.
Former New Balance CEO To Lead Purple Innovation
Rob DeMartini, the former president and CEO of New Balance, has been appointed acting CEO of Purple Innovation, the digital-native mattress upstart.
Footwear Unlimited Appoints EVP Spyder Footwear
Footwear Unlimited announced Jon Hanson has been named executive vice president and general manager for its Spyder Footwear brand.
Gildan Activewear Announces Acquisition Of Frontier Yarns
Gildan Activewear Inc. announced that, through one of its wholly-owned subsidiaries, it has acquired 100 percent of the equity interests of Phoenix Sanford, LLC, the parent company of Frontier Yarns for a total cash consideration of approximately $168 million.
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