SGB Update Apparel
J.C. Penney Sale Talks Reach ‘Stalemate,’ Raising Threat Of Liquidation
J.C. Penney’s discussions with potential acquirers of the company have hit a “stalemate” and the bankrupt retailer’s top lenders are considering making a “credit bid” to own the retailer as a stand-alone company.
Nike Ends Relationship With Neymar
Nike has parted ways with Brazilian star forward Neymar a decade and a half after signing the star striker as a 13-year-old prodigy.
16th Annual College Colors Day To Be Held September 4
Collegiate licensing leader CLC plans to hold the 16th annual College Colors Day this Friday, September 4. The holiday, created by CLC, encourages over 185 million fans to don the apparel of their favorite college and share their spirit via social media, using the hashtag #CollegeColorsDay.
Skirt Sports Acquired By Zooma Women’s Race Series
Zooma Women’s Race Series, known for their race medals and destination races, has acquired Skirt Sports, the originator of the running skirt.
Hibbett Sports Crushes Wall Street’s Q2 EPS Targets
Hibbett Sports Inc. reported adjusted earnings of $50.0 million, or $2.95 per share, well above Wall Street’s consensus estimate of $1.15. Comparable sales catapulted 79.2 percent.
JD Sports Becomes First Official Sleeve Sponsor For Leeds United
Leeds United entered into a new partnership agreement with sports fashion retailer JD Sports. The new agreement will see JD become its official sleeve sponsor for the 2020/21 Premier League campaign.
REI To Open Stores In Pigeon Forge, TN And Appleton, WI
REI Co-op will open new stores in Pigeon Forge, TN and Appleton, WI in September. The openings will mark REI’s fifth location in Tennessee and third in Wisconsin.
Lord & Taylor Closing All Locations
Lord & Taylor, which filed for bankruptcy on August 2, announced Thursday that all of its 38 remaining stores and website have begun liquidation sales. The retailer had said last week that it planned to keep 14 locations open.
UCLA Sues Under Armour For Ending $280 Million Sponsorship Deal
UCLA filed a lawsuit against Under Armour for ending the university’s $280 million sponsorship deal. The school is seeking more than $200 million in compensation.
Athleta’s Q2 Sales Climb 6 Percent
Athleta’s sales were up 6 percent in the second quarter as a surge in online sales of 74 offset a 45 percent decline in store sales, according to the quarterly report of its parent, Gap Inc. Comparable sales at Athleta were up 19 percent.
Aptean Acquires Innovative Systems
Aptean, a provider of enterprise software solutions, announced the acquisition of Innovative Systems, LLC, a provider of enterprise resource planning (ERP) software solutions and electronic data interchange (EDI) mapping and transaction support services to the apparel, footwear and accessories industries in North America.
Golf Rounds Surge In July
Golf rounds jumped 19.7 percent in July, continuing the recovery following the reopening of golf courses across the country starting in May, according to Golf Datatech. For the year-to-date period, rounds played are now ahead 3.0 percent.
Burlington Stores’ Q2 Sales Slide 39 Percent
Burlington Stores Inc. reported a loss of $37 million in the second quarter as revenues declined 39 percent. The off-pricer was able to significantly improve liquidity and reduced inventories 26 percent at the end of the second quarter.
Grassroots Outdoor Alliance Partners With NuOrder
Grassroots Outdoor Alliance, the national organization for independent specialty retailers, will partner with NuOrder to utilizing its collaborative digital buying platform to help the retail buying process.
Hibbett Sports Announces New Field Leadership Team
Hibbett Sports announced a newly formed field leadership team resulting from promotions, reassigned geographic territories and new hires, along with new strategic initiatives for better alignment and growth. The team led by industry veterans Mike Longo, president and CEO, Hibbett and Ben Knighten, SVP operations, Hibbett, is comprised of seven members made up of six regional vice presidents and one vice president of operations for City Gear stores.
