SGB Update Apparel

Belk Files For Bankruptcy

Belk Inc., as expected, filed for bankruptcy protection in  Houston, TX commencing “Pre-Packaged, One Day” reorganization. The plan calls for the reduction of $450 million in debt from the department store’s balance sheet and a $225 million capital infusion, supplied by Belk lenders and its private-equity owner Sycamore.

REI Expands Mobile Work Practices

REI announced that it has both identified the first of its future satellite offices in Issaquah, WA and will test a model that allows employees to work up to five days a week from home. The moves follow REI’s sale last September of its newly completed corporate campus in Bellevue, WA, with plans to shift to a more distributed work model.

Fleet Feet Adds Five Stores In 2020, Makes Key Hires

Fleet Feet announced significant growth in 2020 as it added five stores to close with 182 and saw triple-digit growth of its e-commerce site. The franchisor also hired a head of human resources and marketing and made several promotions to support future growth.

Stio Appoints Vice President Of Marketing

Stio has named Evan Torrance as vice president of marketing. Torrance joins the executive leadership team and reports to president Noah Waterhouse.

Puma’s Q4 Sales Climb 9 Percent, Sees Difficult First Half Of 2021

Puma reported sales grew 9.1 percent on a currency-neutral basis in the fourth quarter. With lockdowns currently closing about half of the retail stores selling Puma’s products in Europe, a challenging first quarter is expected. Recovery, however, is forecast near the end of the second quarter and strong improvements throughout the third and fourth quarter.

Impact Analytics Raises $11M In Funding Round

Impact Analytics Inc. closed on an $11 million growth financing led by Argentum Capital Partners IV, L.P. In connection with the financing, Walter H. Barandiarán, managing partner at Argentum, has joined Impact’s Board of Directors.

Outdoor Retailer Shifts Summer 2021 Trade Show To August 10-12

Outdoor Retailer announced this summer’s trade show will move from June to August 10-12, 2021 and remain at the Colorado Convention Center in Denver, CO.  The date change was made to facilitate a safe and successful in-person event.