SGB Update Apparel
Compass Diversified Posts Q2 Loss on Flattish Sales Decline
Compass Diversified Holdings, the parent company of 5.11 Tactical, Liberty Safe, Velocity Sports and Marucci Sports, reported that net sales for the second quarter ended June 30 were $333.6 million, essentially flat to the $336.1 million reported for the quarter ended June 30, 2019. The net loss for the quarter was $7.4 million, compared to net income of $218.2 million in the year-ago quarter, which included a $206.5 million gain on the sale of its Clean Earth subsidiary. Adjusted EBITDA for the second quarter was $49.5 million versus $52.1 million for the quarter ended June 30, 2019.
REI Ranked Best Employer For Women
REI ranked first in Forbes America’s Best Employers For Women list. Other firms participating in the active lifestyle space on the Top 200 ranking were Designer Brands, the parent of DSW, at 14; JCPenney, 92; Vail Resorts, 109; Hibbett Sports, 114; Nordstrom, 139; Topgolf, 149; Foot Locker, 163; and Nike, 177.
Spartan Race Cancels Rest Of The U.S. 2020 Season
Spartan Race is canceling all its U.S. obstacle races and trail races for the rest of 2020.
Nike To Open Third House Of Innovation In Paris
Nike will open its third House of Innovation at the historic 79 Avenue des Champs-Élysées in Paris. The location will open on July 30.
Nike Withdraws Plans For Manufacturing Plant Near Phoenix
Nike Inc. said it is canceling plans to open a plant in Goodyear, AZ just outside of Phoenix, AZ to make soles for its Nike Air shoes as part of its Nike Air Manufacturing Innovation (Air MI) program.
Big 5 Sees Sales Growth Accelerate In July
Big 5 Sporting Goods reported second-quarter results that came in line with an upbeat forecast given on July 9. The West Coast retailer also said the strong recovery in sales seen in the latter part of the second quarter has accelerated in the third quarter with same-store sales increasing 31.9 percent in July.
Sycamore Positioned To Buy J.C. Penney, To Merge With Belks
J.C. Penney is reportedly close to accepting a $1.75 billion bid from Sycamore Partners to acquire the company in an auction in bankruptcy court. Sycamore intends to merge Penney with Belks, which operates 300 department stores mostly in the South.
G-III Apparel To Offer $350 Million In Five-Year Bonds
G-III Apparel Group Ltd. announced that it intends to offer $350 million aggregate principal amount of senior secured notes due 2025.
Nike Appoints New Diversity Chief
Nike promoted Felicia Mayo, to head a newly formed team as chief talent, diversity and culture officer, replacing Kellie Leonard, who is leaving to pursue other interests. The promotion of Mayo will add a Black woman to Nike’s leadership team.
Running USA’s CEO To Step Down
Running USA announced that Rich Harshbarger will be stepping down as CEO of Running USA effective August 1 as the organization has “determined that it is time for new leadership.” He has been CEO since 2014.
Moncler’s Revenues Drop 29 Percent In First Half
Moncler SpA reported \a net loss of €31.6 million in the first six months of the year as sales declined 29 percent to €403.3 million.
Nike Marketing Exec Joins Timberland
Timberland named Drieke Leenknegt vice president, global marketing. She was most recently Global VP of Influencer Marketing & Collaborations at Nike.
Dick’s SG To Close On Thanksgiving; Extends Employee Premium Pay Through End Of Year
Dick’s Sporting Goods announced it will close all store locations and distribution centers on Thanksgiving Day, November 26, 2020. The company also announced that store and distribution center employees will continue to receive a 15 percent pay premium through the end of the year with the challenges presented by COVID-19.
Under Armour Execs Receive Wells Notice From SEC Linked To Accounting Probe
Under Armour Inc. in an 8K filing Monday said Kevin Plank, founder, executive chairman and brand chief, and David Bergman, CFO, have received a “Wells Notice” from the Securities and Exchange Commission (SEC) regarding the company’s questionable accounting practices covering Q315 to Q416.
Dick’s SG Rolls Out Online BTS Campaign
Dick’s Sporting Goods has partnered with TikTok’s Nicole Laeno, actor Miles Brown and NBA Stylist Calyann Barnett on a 30-second digital spot, “Your Day Starts Here,” supporting back-to-school fashions.
