SGB Update Apparel
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.
Emerald Holding To Receive $400 Million Convertible Preferred Stock Infusion
Emerald Holding Inc., the parent of Surf Expo, Outdoor Retailer and other trade shows, announced plans to raise $400 million through the issuance of convertible participating preferred stock to affiliates of Onex Corporation, the company’s controlling stockholder and in a subsequent rights offering.
Head Appoints VP of Marketing, North America
Head promoted Jeff Bardsley, a 27-year veteran, to VP of marketing, North America. Bardsley has held a variety of positions within Head Canada.
Mall Owner Simon Terminates Deal To Buy Taubman
Simon Property Group, the largest U.S. mall owner, announced that it has exercised its contractual right to terminate its February 9, 2020 merger agreement with high-end mall owner Taubman Centers. Simon argues that Taubman has breached its obligations, specifically by not taking steps “to mitigate the impact of the pandemic as others in the industry have.”
Survey Highlights Disruption Facing Endurance Race Events
According to a recent survey of nearly 400 endurance event professionals from Running USA, 67 percent expect to need additional funding to support their events beyond the Paycheck Protection Program (PPP).
MLS To Return July 8
Major League Soccer (MLS) announced the league’s plan to restart the 2020 season with all 26 clubs competing in the MLS is Back Tournament at ESPN Wide World of Sports Complex at Walt Disney World Resort in Florida beginning July 8.
Christy Sports Donates $165,000 For COVID-19 Relief
Christy Sports LLC, one of the largest ski retailers in the U.S., announced over $165,000 in donations for COVID-19 Relief. The company focused on contributions in Colorado, Utah, Washington, and New Mexico to support communities where they operate.
