SGB Update Apparel
Fanatics Acquires Italian Sports Retailer EPI
Fanatics acquired EPI, a Milan-based company that operates e-commerce and brick-and-mortar stores for Italian soccer clubs and the NBA. Fanatics will also acquire The Pitch Football Store, a football specialist omnichannel retailer.
Apparel Brands Acquires Nicce
Apparel Brands Ltd., the licensed owner of Seafolly and Ed Hardy, acquired East-London-based streetwear brand Nicce, a creator of minimalist streetwear designs.
Survey: Gen Z Still Prefers Nike, Chick-Fil-A and Goldfish; Off-Price Gets More Attention
Investment bank Piper Sandler Companies completed its 45th semi-annual Taking Stock With Teens survey in partnership with Deca. The Piper Sandler survey highlights discretionary spending trends and brand preferences from 5,690 teens across 47 U.S. states with an average age of 16.2 years.
Bealls Rebrands Retail Portfolio
Bealls, Inc. reported that its 600 Bealls Outlet and Burkes Outlet locations in 23 states are consolidating under one name to become bealls (with a lowercase “b”).
Boardriders, Inc.’s Debt Ratings Upgrade Report Reveals ABG Deal Priced At $1.25 Billion
Moody’s Investors Service placed Boardriders, Inc.’s debt ratings on review for upgrade following the announcement that Authentic Brands Group (ABG) has made a binding offer to acquire the company. The report revealed the purchase price is approximately $1.25 billion.
Vista Outdoor To Close Bell/Giro HQ As Outdoor Businesses Merge; Appoints Sporting Products CEO
In a regulatory filing, Vista Outdoor announced an over $50 million cost reduction and earnings improvement program, including closing Bell/Giro headquarters in Scotts Valley, CA, spending cuts, EBIT improvements, and headcount reductions across brands and corporate teams. Jason Vanderbrink was promoted to CEO of Sporting Products.
USTA Launches USTA Connect
The U.S. Tennis Association (USTA) launched USTA Connect, an initiative to connect key members of the U.S. tennis industry to increase industry collaboration and provide insights and services.
Boot Barn’s COO To Retire
Boot Barn Holdings, Inc. reported that Gregory Hackman, executive vice president and chief operating officer, plans to retire in June. He will continue in his position until then and transition his responsibilities to other company executives.
Topgolf Callaway Brands Reports New Hires And Promotions
Topgolf Callaway Brands Corp., following its recent Q4 and FY 2022 earnings report, announced several executive promotions and new hires, reflecting “the increased scope and scale of responsibilities for these leaders to support the company’s long-term growth.”
Authentic Brands Group Makes Binding Offer To Acquire Boardriders
Authentic Brands Group reported it entered a period of exclusivity and made a binding offer to purchase Boardriders, the parent of Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper, and Honolua. Boardrider is owned and managed by Oaktree Capital Management, L.P. Terms were not disclosed.
Nike Faces Shareholder Proposal On Worker Conditions
In a shareholder proposal released Thursday, activist shareholder platform Tulipshare requested a report from Nike on whether its policies effectively address its stated equity goals and human rights commitments.
Topgolf Callaway Adds Board Member
Topgolf Callaway Brands Corp. plans to add C. Matthew Turney, chief financial Officer of Dundon Capital Partners, to its Board of Directors.
True Religion Expanding Into China With New Retail Partner
True Religion is expanding into China with partner Aurorae Group, owner of Evisu Group. Plans are underway to open a mix of 65 freestanding stores and shop-in-shops by 2026, growing to a total of 108 by 2028.
AAFA/FLA Renew Pact Against Migrant Forced Labor
The American Apparel & Footwear Association (AAFA) and the Fair Labor Association (FLA) re-launched and enhanced the AAFA/FLA Apparel & Footwear Industry Commitment to Responsible Recruitment.
Carhartt Recalls Work Pants Sold At Dick’s Sporting Goods
About 32,505 Carhartt men’s Force Relaxed 5 Pocket work pants sold exclusively at Dick’s Sporting Goods were recalled because the elastic drawstring hem near the ankle of the pant could create an extended loop, posing a trip-and-fall hazard. No incidents or injuries were reported.
