SGB Update Apparel
GOB Sale Resumes At 107 Modell’s Locations
Modell’s Sporting Goods has resumed going-out-of-business sales at 107 of its remaining stores, beginning immediately.
Nike Reports $790 Million Quarterly Loss
Nike Inc. reported a loss of $790 million, or 51 cents a share, in the fourth quarter ended May 31, driven by lower revenue and gross margin as a result of the COVID-19 impact on operations, partially offset by lower selling and administrative expenses. Sales decreased 38 percent to $6.3 billion.
Macy’s Announces Restructuring To Address Sales Impact From The Pandemic
Macy’s Inc. announced it will reduce corporate and management headcount by approximately 3,900 as part of a restructuring to align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic.
Iconix Agrees To Sell Starter China
Iconix Brand Group Inc. said in a regulatory that it agreed to sell Starter China Limited for $16.0 million. The Starter China sale includes the sale of the Starter brand in the mainland of China, Hong Kong, Taiwan and Macau.
Hibbett Sports Opens Winston-Salem Store
Hibbett Sports announced the opening of the newest Winston-Salem, NC store located at 1223 Silas Creek Parkway in Parkway Plaza.
Under Armour Extends Sponsorship With Texas Tech
Under Armour agreed to a four-year sponsorship extension with Texas Tech University, according to a report from the Baltimore Business Journal.
OBIT: Frank Dassler
Frank Dassler, grandson of Puma founder Rudolf Dassler, has passed away at the age of 64. He was managing director of the Puma subsidiary in the USA from 1985 to 1987 and group general counsel at Adidas from 2004 to 2018.
Arc’teryx Recognized As One of The Best Workplaces In British Columbia
Arc’teryx Equipment has been named to the list of 2020 Best Workplaces in British Columbia. Arc’teryx received this honor after a thorough and independent analysis conducted by Great Places to Work.
UConn To Drop Four Sports
The University of Connecticut will eliminate four sports in the cost-saving move. Affected programs are men’s cross country, women’s rowing, men’s swimming & diving and men’s tennis.
Eddie Bauer Joins Facebook Boycott
Eddie Bauer will pull its advertisements from Facebook in support of the w “#StopHateforProfit” campaign.
New York City Marathon Canceled Due To Pandemic
The 2020 TCS New York City Marathon, set to take place on November 1, has been canceled. New York Road Runners (NYRR), the event organizer, in partnership with the Mayor’s Office of the City of New York, have made the decision to cancel the world’s largest marathon due to coronavirus-related health and safety concerns for runners, spectators, volunteers, staff, and the many partners and communities that support the event.
Amazon Establishes Counterfeit Crimes Unit
Amazon announced it has established a new Counterfeit Crimes Unit, dedicated to bringing counterfeiters that violate the law and Amazon’s policies by listing counterfeit products in its store to justice.
JD Sports Buys Back Go Outdoors After Pushing It Into Administration
JD Sports reacquired the Go Outdoors chain for £56.5 million after putting it into administration.
Amazon Sets $2 Billion Climate Pledge
Amazon announced the launch of a $2 billion internal venture-capital fund focused on technology investments to reduce the impact of climate change. The Climate Pledge Fund program will back visionary companies whose products and services will facilitate the transition to a zero-carbon economy.
J.C. Penney To Close 13 More Stores
J.C. Penney Co., which filed for bankruptcy proceedings on March 15, disclosed an additional 13 stores it plans to close on top of the 136 being liquidated.
