SGB Update Apparel
Decathlon Named Official NBA Licensee
Decathlon has reached a multi-year merchandising agreement with the NBA, representing its first alliance with a North American sports league.
TSC Apparel Expanding To A Larger Distribution Center In Southern CA
TSC Apparel, the owner of the Tultex brand, is expanding to a larger distribution center in Moreno Valley, CA.
Unifi Sees Incremental Improvement In Q2
Unifi Inc. reported sales of $162.8 million in the second quarter ended December 27, a decrease of 4.0 percent year-over-year, but an increase of 15.0 percent sequentially from the first quarter of fiscal 2021. Revenues from REPREVE Fiber products represented 37 percent of consolidated net sales, a new quarterly record.
Columbia Sportswear Appoints Chief Digital Information Officer
Columbia Sportswear Company announced the appointment of Skip Potter to the role of executive vice president, chief digital information officer, effective April 1. Most recently, he spent four years as Nike’s chief technology officer.
Belk’s Debt Ratings Downgraded Following Restructuring Move
S&P Global Ratings lowered its debt rating on Belk Inc. due to the Charlotte, N.C.-based department store operator’s announcement that it intends to restructure its debt. S&P views the proposed transaction as distressed and representing less than the original promise of its term loans.
Vista Outdoor’s Debt Ratings Upgraded
Moody’s upgraded the debt ratings of Vista Outdoor Inc. because Vista repaid a significant amount of debt over the last two years. The rating agency also expects the company’s operating performance to remain strong over the next 12 to 18 months as ammunition demand remains robust and as the company continues to work through its material backlog.
REI To Open New Store In Orland Park
REI Co-op will open a new store in the Village of Orland Park, IL in fall 2021, representing the co-op’s fifth location in Illinois.
United Legwear & Apparel Acquires TicTacToe
United Legwear & Apparel Co. (ULAC) has acquired TicTacToe, manufacturer of infant, toddler and children’s legwear, accessories and apparel.
VF’s Q3 Revenues Slide 6 Percent
VF Corp. reported sales dropped 6 percent in the third quarter ended December 26. Sales for the Vans brand were down 6 percent while sales for The North Face were flat, though the company’s entire outdoor segment fell 5 percent. Earnings came in just ahead of Wall Street’s consensus estimate but were below year-ago levels. VF nonetheless raised its guidance for the year.
Belk Plans Bankruptcy Filing To Restructure Debt
On Tuesday afternoon Belk said it plans to file for Chapter 11 bankruptcy protection to complete a debt-for-equity exchange designed to reduce its debt load by $450 million. Suppliers are expected to be unimpaired.
Unifi Appoints Board Member
Unifi Inc. announced the election of Emma Battle to the Board of Directors. Battle is currently president and CEO of MarketVigor, a business services company she founded.
JD Sports Explores Funding Options To Fuel Expansion
JD Sports, the U.K. retailer that owns Finish Line and Shoe Palace in the U.S., confirmed on Tuesday that it was exploring additional funding to support growth.
Former Senior Marketing VP Of Under Armour Joins SquadLocker’s Board
SquadLocker announced that Jim Mollica, digital marketing executive and former senior vice president of global consumer engagement and digital at Under Armour, has joined its board of directors.
Target Giving $500 Pandemic Bonuses To 375,000 Frontline Employees
Target said it would be rewarding its frontline workers with $500 bonuses for their efforts during a “year unlike others” in 2020. Members of Target’s executive team, store leaders and distribution center leaders will net bonuses of $1,000 to $2,000. In total, Target is giving out $200 million in bonuses after a successful holiday season.
Belk Exploring Restructuring In Bankruptcy Proceedings
Belk Inc. is nearing a deal to file for bankruptcy protection to support a pre-arranged conversion of debt to equity, sources told Bloomberg.
