SGB Update Apparel
Mall Landlords, Authentic Brands In Talks To Acquire J.C. Penney
Mall owners Simon Property Group and Brookfield have partnered with Authentic Brands to explore a purchase of bankrupt department-store chain J.C. Penney, sources told Bloomberg.
Decathlon Opens Dublin Flagship
Decathlon opened a flagship location in Dublin, marking its first location in the Republic of Ireland. Over the next few years, the French sports retailer expects to open nine outlets Ireland. It already has stores in Northern Ireland.
Salt Life Sees Robust DTC Sales In May
Delta Apparel Inc. announced strong direct-to-consumer sales results for its Salt Life brand, including its ten owned and operated branded retail stores and its branded e-commerce site for the month ended May 30.
Nike’s Phil Knight To Receive Honorary Doctorate From Oregon
Phil Knight, who graduated from The University of Oregon with a bachelor’s degree in 1959, will be given an honorary doctorate degree from his alma mater at a virtual ceremony on June 20.
USA Cycling Announces Olympic Long Team For Mountain Bike, Road And Track
USA Cycling announced the men’s and women’s mountain bike, road, and track Olympic long teams, naming the initial lists of athletes from which the final roster for the Olympic Games Tokyo 2020 will be selected next summer. Athletes are still eligible to make the Olympic long teams until May 2021.
Dick’s SG Reinstates Dividend Program, Restores Most Salaries
Dick’s Sporting Goods, Inc. announced the reinstatement of its dividend program. The retailers also announced that with nearly 100 percent of its stores expected to have re-opened to the public by June 30, it has restored previously reduced salaries for all employees, except for certain executives, and has returned substantially all associates from furlough.
Boardriders Debt Ratings Lowered
The debt ratings of Boardriders Inc., the parent of Quiksilver, Billabong, ROXY, DC Shoes, RVCA and Element brands, were lowered by S&P Global Ratings. The rating agency said Boardriders recently published preliminary results showed severely negative EBITDA in the second fiscal quarter and indicated that it might need additional liquidity this year to meet its obligations.
Lululemon DTC Surges To 54 Percent Of Sales In Fiscal First Quarter
Lululemon Athletica Inc. reported that net revenue for the first quarter ended May 3 was $652.0 million, a decrease of 17 percent compared to the first quarter of fiscal 2019.
Nike Makes Juneteenth An Annual Paid Holiday
Nike is making Juneteenth, which takes place on June 19 and commemorates the end of slavery in the U.S., an official paid company holiday, CEO John Donahoe said Thursday in a letter to employees. He also said Nike will be taking further steps to ensure Black, Latino and Women are properly represented at Nike.
PVH Reports Q1 Revenue Drops 43 Percent
PVH Corp., the parent of Calvin Klein, Tommy Hilfiger and Izod, reported first-quarter revenue decreased 43 percent to $1.344 billion and was down 42 percent on a constant-currency basis compared to the prior-year period.
Adidas Boosts Investment In Black Communities
Adidas on Wednesday raised its investment in black communities to $120 million from $20 million after criticism.
Patagonia CEO Rose Marcario Steps Down
Patagonia’s CEO Rose Marcario, shown above right with Patagonia’s founder Yvon Chouinard, has stepped down after a six-year stint. Chief operating officer Doug Freeman is taking her place momentarily until the search for a successor is found.
Lolë Parent Files For Bankruptcy In Canada
Coalision, the Montreal-based parent of Lolë and Paradox activewear brands, has filed to reorganize under the Bankruptcy and Insolvency Act in Canada to seek new funding or a buyer.
NGF Finds Golf Participation Spiked In Areas That Faced Restrictions
According to analysis by the National Golf Foundation (NGF), golf participation has picked up in recent weeks in several key golf markets as courses reopen with the surge in play most pronounced in courses that faced restrictions.
Report: COVID-19 Has Not Reduced Consumers’ Demand For Sustainable Solutions
Kearney’s annual Earth Day survey found consumers still show a strong and growing interest in the environment even as COVID-19 continues to ravage the nation.
