SGB Update Apparel
New Government Report Outlines Outdoor Recreation’s Economic Impact
The outdoor recreation industry continues its robust growth, bolstering the country’s overall economy. Such were the findings in a Tuesday report released by The Outdoor Recreation Roundtable and Bureau of Economic Analysis, whose results unveiled economic data on outdoor recreation’s economic impact on the U.S. economy.
Adidas Secures New $1.8 Billion Loan Facility
Adidas AG said that it has secured a new loan facility for €1.5 billion ($1.77 billion) to weather the economic fallout from the COVID-19.
Black Diamond Opens Store In Montana
Black Diamond Equipment opened its doors to a new retail store in Big Sky, MT.
Newell Brands Announces Tender Offer For $300 Million Of Outstanding Debt
Newell Brands launched a debt tender offer to purchase for cash up to $300 million in debt. The company expects to fund the Offer with available cash on hand.
VF’s Debt Ratings Face Possible Downgrade
Moody’s Investors Service placed V.F. Corporations’ long-term ratings on review for downgrade due to VF’s move to acquire the Supreme streetcar brand for $2.1 billion.
HanesBrands Announces Retirement Of General Counsel
HanesBrands announced that Joia M. Johnson, chief administrative officer, general counsel and corporate secretary, plans to retire effective May 2021.
Tilly’s Announces New $65 Million Asset-Backed Credit Facility
Tilly’s Inc. announced that it has established a new $65.0 million asset-backed credit facility with Wells Fargo Bank.
JCPenney Receives Court Approval For Sale
J. C. Penney Company Inc. announced that the U.S. Bankruptcy Court for the Southern District of Texas has approved the previously announced asset purchase agreement (APA) with Brookfield Asset Management, Inc., Simon Property Group and the company’s DIP and First Lien Lenders
Descente’s Revenues Slump 35 Percent In Six Months
Descente Ltd. reported a loss in the fiscal six months ended September 30 as sales were down 34.9 percent in the six months.
Rural Cloth, CMC Brands Announce Strategic Partnership
Rural Cloth and CMC Brands announced a joint partnership leveraging strategic operational efficiencies to spur further growth of both organizations.
Adidas Records Strong Recovery In Third Quarter
Adidas reported sales and profitability recovered in the third quarter as stores reopened, alongside booming e-commerce sales. Adidas no longer expects a return to growth in the fourth quarter due to a worsening of the pandemic in many regions but sees a modest profit.
Imports Set New ‘Peak Season’ Record As Retailers Prepare For Holidays
Imports likely saw their busiest “peak season” on record this summer and fall as retailers replenished inventories and stocked up for the holiday season, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Christy Sports Acquires Double Diamond Ski Shop
Christy Sports announced that it has acquired Double Diamond Ski and Bike Shop, a specialty ski and snowboard retail and rental operator located at Vail, CO.
Stocks Rally On Pfizer Vaccine News
The broader stock market soared on Monday after drugmaker Pfizer said that an early look at data from its coronavirus vaccine shows it’s more than 90 percent effective. However, the majority of stocks in the active lifestyle space that have thrived amid the pandemic, including Peloton, saw sharp declines.
Callaway Golf Q3 Sales Climb 12 Percent
Callaway Golf Company reported net earnings in the third quarter ended September 30 rose 69 percent as sales grew 12 percent. The gains were driven by a 27 percent hike in golf equipment.
