SGB Update Apparel
CODI Invests In Rational Packaging
Compass Diversified Holdings (CODI), the parent of 5.11, Liberty Safe, Marucci Sports and Velocity Outdoor, said its Foam Fabricators business has made a strategic investment in Rational Packaging, LLC, a designer and manufacturer of recyclable, paperboard-based structural packaging components.
G-III Apparel’s Sales Tumble 54 Percent In Second Quarter
G-III Apparel Group, Ltd. reported sales declined 53.8 percent in the second quarter and warned that sales are expected to decline in the range of 28 percent to 33 percent in the second half.
Neil Fiske Joins Marquee Brands As CEO
Marquee Brands LLC appointed Neil Fiske as its first chief executive officer of Marquee Brands LLC. Fiske was most recently chief executive officer of the GAP brand and formerly led Billabong and Eddie Bauer.
Senior Nike Brand Director Joins Teespring
Teespring, the social commerce platform, has appointed Les Green, who formerly helped spearhead Nike’s NikeiD efforts, as VP of marketing.
Under Armour Expands Restructuring Efforts, To Lay Off 600 Overall
In a regulatory filing, Under Armour said its Board of Directors on September 2 approved a $75 million increase in its 2020 restructuring plan and indicated that it plans to lay off 600 employees as part of its overall 2020 restructuring plan.
JD Sports’ U.S. Sales Boosted By Federal Stimulus
JD Sports’ U.S. segment, including The Finish Line and its initial JD Sports locations in the U.S., saw sharp gains in profits on strong sales in the first half. The improvement was attributed to a “temporary government stimulus driving a material, but temporary, impact on performance.”
Pentland Brands Promotes Chirag Patel To CEO; Makes Executive Team Changes
Pentland Brands Limited announced changes to its executive team. The changes include Chirag Patel becoming chief executive officer, having previously served as deputy chief executive officer.
Lululemon Ekes Out Modest Q2 Revenue Gain
Lululemon Athletica Inc. showed a 2 percent increase in sales in the second quarter with a boost from a 155 percent jump in online revenues. Earnings were down due to acquisition-costs tied to its acquisition of Mirror and higher expenses tied to COVID-19 measures but both earnings and sales beat Wall Street targets.
Puma North America CEO To Speak At SFIA’s Virtual Conference
Bob Philion, Puma North America CEO, will deliver a keynote address at SFIA’s upcoming “Back On Track: Insights & Strategies” virtual conference being held online on September 23 and 24.
Kohl’s Rolls Out New Loyalty Program
Kohl’s announced the nationwide launch of Kohl’s Rewards, the company’s new simplified loyalty program, offering customers an opportunity to earn more Kohl’s Cash coupons on purchases.
HanesBrands Appoints Chief Human Resources Officer
HanesBrands, the parent of Hanes and Champion, announced the appointment of Kristin L. Oliver to the position of chief human resources officer. She was at Walgreens.
Fanatics Acquires Vetta Brands Assets To Expand Headwear Business
Fanatics has agreed to acquire certain assets from Vetta Brands, including Top of the World (TOW), the collegiate headwear license. The move adds headwear to Fanatics‘ vertical manufacturing capabilities and supports its college sports licensing business. TOW’s current president Scott Shuler will join Fanatics.
Boardriders’ Debt Ratings Lowered
The debt ratings of Boardriders Inc., the parent of Quiksilver, Billabong, Roxy, DC Shoes, RVCA and Element brands, were downgraded by S&P. The rating agency said a new debt offering “is tantamount to a default on the term loan because the company is distressed and term loan lenders were not adequately compensated for accepting a more junior position in the capital structure.”
Slinger Bag Announced Expansion Into Australia
Slinger Bag announced a five-year distribution agreement with Australia’s tennis specialty retailer, Tennis Only.
Altitude Sports Launches Same-Day Delivery
Altitude Sports, Canada’s online outdoor retailer, announced that it will offer a same-day delivery option to customers in Montreal as of September 1 and Next Day Delivery in Toronto this fall.
