SGB Update Apparel
Active Brands Appoints New CEO
Active Brands, the Norway-based parent of Kari Traa, Johaug, Dæhlie Sportswear, Bula, Åsnes and Sweet Protection, appointed Christophe Merkel as the new CEO of the company, succeeding Espen Krogstad. He was formerly vice president and general manager of Nike EMEA.
JD Sports To Open First Store In Canada
The JD Group, based in the U.K., announced plans to open its first JD Sports store in Canada in the second half of 2021.
Adidas Forms Partnership With Peloton
Adidas said that it has formed a partnership with Peloton. Details were not disclosed but reports indicate the partnership is an apparel collaboration.
RYU Apparel To Reopen Stores
RYU Apparel Inc. said it’s planning on reopening the company’s flagship stores that have been closed due to the global COVID-19 pandemic. The reopening of the company’s Vancouver and Toronto stores is scheduled for Saturday, April 16, 2021.
New Balance and BSN Sports Partners With University Of Denver
The University of Denver Division of Athletics and Recreation announced that it has entered into a multi-year sponsorship and product supply agreement with New Balance through BSN Sports to be the official apparel, footwear and uniform provider for Pioneer athletics.
Midwest Sports Tennis Acquired By Berlin’s Signa Sports United
Berlin-based Signa Sports United announced the acquisition of a majority stake in Midwest Sports, the Ohio-based online tennis retailer. The acquisition serves as the entry point into the U.S. market for Tennis-Point.
Adidas Partners With Phoenix Rising FC
Phoenix Rising FC, the American professional soccer team, announced it had secured a six-year partnership with Adidas, which will serve as the club’s official outfitter through the 2026 season.
S&P Raises Debt Ratings Outlook On TJX
S&P Global Ratings revised its debt rating outlook on TJX to stable from negative due to expectations that the COVID-19 vaccine rollout, store reopenings and less restrictive government mandates on crowd gathering will drive higher customer traffic to TJX’s stores, propelling historical same-store sales by the end of this year.
JD Sports Acquires MIG In Poland
JD Sports said it entered into an agreement to acquire a 60 percent stake in Polish sports fashion business Marketing Investment Group (MIG), with 410 stores across nine countries in Central and Eastern Europe.
Buckle’s Q4 Earnings Climb 40 Percent
Buckle Inc. reported fourth-quarter earnings rose 39.6 percent on a 17.7 percent sales gain.
Yue Yuen Sales Vault In February
Yue Yuen reported sales rose 77.0 percent to $755.5 million in February from $426.8 million a year ago. The year-ago period was impacted by the initial onset of the pandemic.
Kohl’s Comments On Activist Investors’ Announcement
Kohl’s Corp. has issued a statement in response to an Activist Investor Group’s attempt to nominate five directors to its 12-member board.
Tilly’s Q4 Profits Climb 41 Percent
Profits at Tilly’s Inc. jumped 41.3 percent in the fourth quarter ended January 30 as sales rose 3.2 percent. Results exceeded Wall Street’s targets.
Zumiez’s Q4 Profits Climb 13 Percent
Zumiez Inc. reported earnings rose 12.9 percent in the fourth quarter ended January 30 on a 4.7 percent same-store gain.
Activist Investor Group Reduces Kohl’s Director Nominees To Five From Nine
A group of activist investors with a combined 9.5 percent stake in Kohl’s Corp on Thursday reduced the number of directors it plans to nominate to the retailer’s board from nine to five, according to a filing with the Securities & Exchange Commission.
