SGB Update Apparel
Iconix Brand Group’s Debt Ratings Lowered
S&P Global Ratings downgraded the ratings of Iconix Brand Group to ‘CCC+’ from ‘B-‘ on the elevated likelihood for a debt restructuring. The outlook is negative.
Academy Sports Ranks Third Among Houston’s Private Corporations
Academy Sports + Outdoors again ranked third in the Houston Chronicle’s list of the 100 Top Private Companies in Houston. Academy CEO Ken Hicks told the Chronicle, “Academy has historically performed well in those stressful times, be they the 2008 recession, (Hurricane) Harvey and COVID-19.”
Neiman Marcus To Close Four Department Store Locations
Neiman Marcus, which filed for Chapter 11 bankruptcy protection on May 7, said it is permanently closing its Hudson Yards location in Manhattan, along with two stores in Florida — Fort Lauderdale and Palm Beach — and in Bellevue, WA. The retailer also plans to close 17 Last Call outlets.
Under Armour Signs WNBA Rookies As Ambassadors
Under Armour has signed Bella Alarie and Tyasha “Ty” Harris, both recently drafted by the rising Dallas Wings, and fellow WNBA rookie Kaila Charles of the Connecticut Sun to its team of ambassadors.
Under Armour Reveals Newest Diversity, Inclusion Efforts
Under Armour Inc. said it will commit to ensuring 12 percent of its employees at the director level or higher are Black by 2023 as part of a series of initiatives “to support a more diverse and inclusive future.”
Sports & Fitness Industry Does Not Expect Full Return In 2020
Seventy-two percent of companies now anticipate that sales will not return to pre-COVID-19 numbers until 2021, and 53 percent report not until Q2 of 2021, according to the SFIA’s 3rd Edition of its monthly COVID-19 Industry Impact Report.
Congress Passes The Great American Outdoors Act
The U.S. House on Wednesday passed the Great American Outdoors Act by a vote of 310 to 107, guaranteeing for the first time money for land acquisition and preservation. The bill now heads to President Donald Trump, who is expected to sign it.
Nike Tops BrandZ’s Most Valuable Apparel Brands
Nike was again the top-ranked apparel brand in the 2020 BrandZ Top 100 Most Valuable Global Brands ranking released by WPP and Kantar, although Lululemon, Adidas and The North Face all saw double-digit appreciation.
Closed Loop Partners Launches Consortium To Address Retail Bags
The Center for the Circular Economy at Closed Loop Partners has partnered with five retailers, CVS Health, Target, Walmart, Kroger, and Walgreens, to form a consortium aimed at reinventing the single-use plastic retail bag.
Comscore Finds Consumers Shifting Focus To Sports And Outdoor Activities
According to new research from Comscore, consumers are shifting discretionary spending away from typical summer travel and ticketed events and focusing instead on family-oriented outdoor activities.
Nike Announces Leadership Changes To Support Consumer Direct Acceleration
Nike Inc. announced a series of senior leadership changes supporting the company’s Consumer Direct Acceleration (CDA). Among the changes, Amy Montagne becomes VP/GM, Men’s; Whitney Malkiel becomes VP/GM, Women’s; and McCallester Dowers becomes VP/GM, Kids. All three will report to Michael Spillane, who becomes president, Consumer Creation.
Fanatics Partners With Marshawn Lynch’s Beast Mode
NFL running back Marshawn Lynch and Fanatics announced an exclusive, multi-year deal that will see Fanatics operate an online and mobile shopping experience for Lynch’s Beast Mode apparel company.
Texworld USA, Apparel Sourcing USA Summer Virtual Sourcing Event Opens
Texworld USA, alongside Apparel Sourcing USA, has opened its 2020 summer edition virtually. Traditionally held at the Jacob K. Javits Center in New York City, the Sourcing Event of the Summer is opening to a larger audience for three days of sourcing, education and networking.
Stage Stores Starts Going-Out-of-Business Sales
Joint venture partners Gordon Brothers and Hilco Merchant Resources announced that they have started “Going-Out-of-Business” sales at 720 Stage Store locations, including Gordmans as well as Stage, Bealls, Goody’s, Palais Royal, and Peebles stores.
VF Corp. To Open Multi-Brand Retail Store In Milan
VF Corp. plans to open its first multi-brand store this fall in Milan, Italy. The store, inside a historic building at 11 Orefici Street, will feature The North Face, Timberland and Napapijri with other VF brands periodically showcasing their collections.
