SGB Update Apparel
CVC, HPS To Buy Stake In Authentic Brands At $12.7BN Valuation
Authentic Brands Group (ABG) is shelving its planned initial public offering and instead plans to sell significant equity stakes in its business to private equity firm CVC Capital, hedge fund HPS Investment Partners and a pool of existing stakeholders. The transaction values the company at $12.7 billion in enterprise value.
Cotopaxi To Open Stores In Denver And San Francisco
Cotopaxi announced plans to open two new brick-and-mortar retail stores. The new locations in Denver and San Francisco will add to Cotopaxi’s current roster of five store locations.
Pro Image Sports Opens In Syracuse
Pro Image Sports, the largest franchiser of licensed sports merchandise, opened a 4,000 square-foot store at Destiny USA in Syracuse.
Bass Pro-Parent Partners With Toyota Motor Credit
Great American Outdoors LLC, the parent company of Bass Pro Shops, Cabela’s and the White River Marine Group has reached an agreement to expand Toyota Motor Credit Corporation’s (TMCC) relationship with Bass Pro Shops and Cabela’s to include offering financial services for the company’s boats, all-terrain vehicle products and other mobility products.
Tennis Warehouse Becomes Official Footwear, Apparel Supplier To USPTA
USPTA announced a multi-year endorsement with Tennis Warehouse as the “Official Footwear and Apparel Supplier” of the USPTA starting December 1, 2021.
Oprah Winfrey, Reese Witherspoon Invest In Spanx
Oprah Winfrey, Reese Witherspoon and Bumble Inc. founder Whitney Wolfe Herd have joined funds manager Blackstone in investing in Spanx, Inc. The investment values the women’s shapewear brand at $1.2 billion.
Tilly’s Declares Special Dividend
Tilly’s Inc. announced that its Board of Directors has declared a special cash dividend of $1.00 per share, or approximately $31 million in the aggregate, on the company’s outstanding Class A and Class B common stock.
Nike Partners With Roblox On Virtual World
Nike announced a partnership with Roblox to create a virtual world called NIKELAND. Users will be able to dress up their avatars in Nike-branded footwear and apparel.
The Buckle’s Q3 Earnings Climb 49.5 Percent
The Buckle Inc. announced that net income for the fiscal quarter ended October 30, 2021 was $62.2 million, or $1.26 per share on a diluted basis, compared with net income of $41.6 million, or 85 cents, for the third quarter of fiscal 2020.
Athleta Opens Second Canadian Store In Toronto
Athleta, part of San Francisco-based Gap Inc., opened a new 4,800-square-foot retail store at Yorkdale Shopping Centre in Toronto.
Callaway Golf’s and Topgolf’s Debt Ratings Upgraded
S&P Global Ratings revised its debt outlook to stable from negative on Callaway and Topgolf. At the same time, the ratings agency affirmed its ‘B’ issuer credit rating on Callaway and its ‘B-‘ issuer credit rating on Topgolf.
La Sportiva Appoints Financial Director And National Sales Manager
La Sportiva announced the hiring of Nat Matthews as financial director and Darrin Young as national sales manager.
Nike Announces 11 Percent Increase In Quarterly Dividend
Nike, Inc. announced that its Board of Directors approved a quarterly cash dividend of $0.305 per share on the company’s outstanding Class A and Class B Common Stock. This represents an increase of 11 percent.
Foot Locker’s Q3 Same-Store Sales Climb 2.2 Percent
Foot Locker, Inc. reported third-quarter earnings were sharply above year-ago levels and Wall Street targets due to strong gross margin improvement and a 2.2 percent gain in same-store sales. The sneaker juggernaut cautioned that supply chain disruptions would likely persist throughout the fourth quarter.
Ross Stores Q3 Sales Rebound
Ross Stores Inc. lifted its outlook for the year after posting healthy third-quarter results. Same-store sales in the quarter ended November 2 grew 14 percent against the 2019 third quarter.
