SGB Update Apparel
Sportsman’s Warehouse’s Q2 Sales Catapult 79 Percent
Sportsman’s Warehouse Holdings Inc. reported earnings grew five-fold in the second quarter. Sales surged 79 percent primarily due to a surge in demand across all major categories, led by hunting and shooting.
OIA Partners With People For Bikes On Climate Action
Outdoor Industry Association (OIA) and PeopleForBikes (PFB) have announced a partnership through which PFB members — bicycle manufacturers and retailers — will be able to join the OIA Climate Action Corps, a collaborative model for alignment, action and accountability to achieve industry-wide greenhouse gas (GHG) emission reductions in accordance with Intergovernmental Panel on Climate Change (IPCC) guidelines.
Adidas Global Creative Director Exits Over Controversial Comments
Adidas global creative director Paul Gaudio has left the company, effective August 31, according to an internal memo from the company. The memo did not give a reason but it arrived two days after Gaudio left a controversial comment on a Complex Instagram post.
Macy’s Q2 Comps Drop 35 Percent
Macy’s, Inc. reported same-store sales in the second quarter were down 34.7 percent but were better than expected as in-store sales recovered faster-than-expected and online sales jumped 53 percent. The second-quarter loss that was was better than Wall Street’s estimates.
Fjallraven Sued Over Unpaid Rent At Boulder Store
Fjallraven has been sued by the landlord of its store in Boulder for not paying rent from April through August.
Bass Pro Shops and Cabela’s Recognized For Customer Service
Bass Pro Shops and Cabela’s has received national accolades for excellence in customer service, receiving “America’s Best-In-State Customer Service 2020” award from Newsweek.
361 Degrees’ Debt Ratings Downgraded
S&P Global Rating lowered its debt ratings 361 Degrees International Ltd. as it expects the Chinese sporting good company’s market position to weaken amid accelerated industry consolidation, with a dip in revenue in 2020 and 2021. Escalated competition in China’s sportswear industry is also expeced to dent the company’s profit margin.
L.L. Bean Seeing Outdoor Boost Amid Pandemic
L.L. Bean CEO Stephen Smith told CNBC’s “Squawk on the Street” that sales of bikes, kayaks and canoes have been robust in the spring and summer as outdoor activities have increased in appeal in the stay-at-home economy.
Ahead Signs Distribution Deal For Coolnes
Ahead, the golf headwear, apparel and accessories brand signed an exclusive golf distribution agreement with Coolnes, the ultraviolet-protective neck and face mask for golfers.
Gymshark Partners With Klarna On Installment Payments
Gymshark has partnered with Klarna to offer extended payments on purchases made on Gymshark.com. The partnership comes as the U.K.-based fitness apparel start-up in mid-August secured a $1.45 billion valuation in its first equity raise.
USTA Launches Initiatives Around US Open
The USTA announced plans to capitalize on opportunities throughout the US Open to drive awareness of a variety of key initiatives to promote and develop the growth of tennis throughout the country.
Timberland Elevates Sustainability Goals
Timberland announced a goal for its products to have a net positive impact on nature by 2030. The goal includes having all products designed for circularity and made from natural materials sourced from regenerative agriculture.
Lids Signs Its First NFL Player Endorsement
Lids has signed an endorsement deal with veteran Pro Bowl running back Melvin Gordon, who becomes the first NFL player to officially partner with the sports licensing retailer.
John Donahoe Sees COVID-19 Response Showcasing Nike’s Strengths
In his first shareholder letter since taking over as Nike’s CEO and president in January, John Donahoe wrote that COVID-19 “offered a stress-test” of its Consumer Direct Offense strategy while stating “Nike’s underlying strengths and resilience have become even more evident in this crisis.”
Moody’s Assigns A2 Rating To Adidas’ New Senior Unsecured Notes
Moody’s Investors Service has assigned an A2 rating to the proposed senior unsecured notes issued by Adidas AG, consisting of €500 million notes due 2024 and €500 million notes due 2035. Adidas’ current A2 long-term issuer rating and Prime-1 (P-1) short-term issuer rating are unaffected by the issuance of these notes. The outlook on Adidas is unchanged at stable.
