SGB Update Apparel
Li Ning Sees Modest Sales Decline In First Half
Li Ning reported profits on an adjusted basis grew in the first half while revenues only showed a slight decline despite the impact of COVID-19.
The Running Event Cancelled
Diversified Communications, organizer of The Running Event (TRE), announced it has canceled TRE, scheduled to take place December 1-3 in Austin, TX, due to health concerns stemming from COVID-19.
Puma Appoints General Manager For UK, Ireland And Benelux
Puma appointed Ben Hughes as general manager for the United Kingdom, Ireland and Benelux (UKIB) with immediate effect. In this role, Hughes takes over from Paul Spencer, who has assumed the position as Puma’s regional sales director Europe.
Callaway Golf’s Debt Ratings Lowered
Moody’s Investors Service downgraded Callaway Golf Company’s Corporate Family Rating (CFR) to B1 from Ba3 and Probability of Default Rating to B1-PD from Ba3-PD.
Paragon Sports Ends Sale Of Animal Fur Products
Paragon Sports, the New York sporting goods institution, announced that after re-evaluating shoppers’ needs, it will no longer sell apparel made with animal fur starting in the winter of 2020.
Simon, Authentic Brands To Acquire Lucky Brand
Simon Property Group and Authentic Brands Group (ABG) have teamed up to acquire bankrupt denim maker Lucky Brand in bankruptcy proceedings for $140.1 million.
Foot Locker Opens Flagship In Singapore
Foot Locker Inc. has opened its largest store in Singapore. Located in Orchard Gateway @Emerald, the five-story space with retail over three-levels combines product, in-store presentations and customer experiences featuring a multi-branded basketball collection and a half-court in B2.
Cascade Designs Engages Sales Team To Serve Canadian Territories
Cascade Designs retained Sasso Vertical Sales to represent its brands in British Columbia, Yukon Territory and Northwest Territories.
SquadLocker Appoints VP Of Operations
SquadLocker, the uniform and custom team gear provider, appointed Jim Day as vice president operations to support the company’s growth and expansion.
He was previously vice president of global supply chain at ’47, a sports lifestyle brand.
GymShark Secures Equity Funding
GymShark, the U.K.-based fitness apparel start-up, announced it will enter a strategic partnership with General Atlantic, a leading global growth equity firm, in its first-ever fundraise, valuing the business at over £1 billion. In conjunction with General Atlantic’s investment, Founder Ben Francis has increased his stake in the company to over 70 percent.
Retail Sales Increase 1.2 Percent In July
The U.S. Census Bureau reported overall retail sales during July were up 1.2 percent seasonally adjusted from June and up 2.7 percent year-over-year. The July gain over June was lower than the 1.9 percent expected by economists, according to Reuters.
Fanatics Receives $6 Billion Valuation In Latest Funding Round
Fanatics raised $350 million in a Series E funding round, valuing the sports fan online retail giant at $6.2 billion, up from $4.5 billion in its last funding round, according to reports.
Revolve Group Posts Profit Against Loss In Q2
Revolve Group, the online fashion retailer, reported sales slid 11.8 percent in the second quarter to $142.8 million from $161.8 million a year ago.
Athleta CEO Joins Impossible Foods’ Board
Impossible Foods Inc., the plant-based meat start-up, announced that Mary Beth Laughton, the president and CEO of Athleta, has joined its board of directors.
Bass Pro Shops And Cabela’s Reward Store Associates With Bonuses Up To $1,000
Bass Pro Shops and Cabela’s have issued companywide bonuses for its hourly frontline retail, distribution center and manufacturing plant team of $250, $500, $750, or $1,000 based on job role and seniority, representing a multimillion-dollar investment to reward its Outfitters and employees for their efforts amid the pandemic.
