ICSC Survey Finds In Thanksgiving Weekend Spending
The International Council of Shopping Centers (ICSC) reported that its Post-Thanksgiving Weekend survey showed more than half of consumers (56 percent) said they shopped just as much or more than in the past, an increase of 6 percentage points from 2022.
Report: Saks Bids For Neiman Marcus
Saks Fifth Avenue offered $3 billion to acquire Neiman Marcus, according to the Wall Street Journal. The offer was rejected but the two chains continue negotiations with the major objection being the terms of the deal.
Bandier Seeks Sale Amid Credit Pressures
Bandier, the women’s activewear brand, is seeking a buyer for substantially all of its assets, including inventory and intellectual property, as part of a “General Assignment for the Benefit of Creditors” to avoid a formal bankruptcy filing.
German Retailer SportScheck Files for Insolvency; Frasers Exits Deal
UK-based Frasers Group plc, said it intends to work with the appointed preliminary insolvency administrator of SportScheck with a view to acquiring the SportScheck business/assets out of administration.
Dr. Martens Sees First-Half Sales Slide on Softness Within U.S. Wholesale
Dr. Martens plc reported revenue in the first half ended September 30 declined 5 percent, or 3 percent on a currency-neutral basis, primarily driven by weakness in U.S. wholesale channels.
Castore Secures Equity Investment
Castore, the U.K.-based sportswear brand, has secured a £145 million ($183.1 million) investment in a funding round led by the Raine Group, the U.S. financial advisory and investment firm.
Reebok Inks Licensing Partner For Sports Equipment
Authentic Brands Group has entered into a long-term licensing agreement with Sakar International to design and distribute Reebok-branded basketball, pickleball, baseball, soccer, and football equipment and electronics, including audio, tech and massage products.
Hanesbrands Gets Debt Ratings Downgrade
Moody’s Investors Service downgraded Hanesbrands, Inc.’s debt ratings to reflect the company’s significant earnings declines through 2023 and Moody’s expectation that leverage and coverage credit metrics will remain weak through the first half of 2024.
Bogner Opens Flagship Stores in NYC and LA
The Germany-based so-called “Ath-Luxury” brand that claims to effortlessly transition from the slopes to the city and beyond said it is building on the “resounding success” of its short-term and pop-up locations on both coasts. The stores officially opened their doors in November 2023.
Journeys a Drag on Genesco Q3 Top-Line; Parent Reduces Guidance
Genesco, Inc. lowered its guidance for the year after October sales weakened, driving a shortfall in third-quarter results. In the quarter, Journey’s same-store and direct sales fell 8 percent.
5.11 Tactical to Transition Senior Leadership
Francisco J. Morales, co-founder and former CEO will be promoted to executive chair of the Board of Directors, while 5.11 Board member Troy R. Brown will become CEO, effective January 1, 2024.
Delta Apparel to Sell Fayetteville Factory
Delta Apparel, Inc., in a regulatory filing, said it expects to receive net proceeds of $23 million from the sale and long-term leaseback of its approximately 35-acre campus in Fayetteville, NC. The buyer is RH Dunn, LLC.
