SGB Update Apparel
Registration For 2020 Virtual Edition Of Texworld USA And Apparel Sourcing USA Opens
Texworld USA and Apparel Sourcing USA announced registration for the premier of its virtual edition is now open. The online system is the first of many steps in preparation for three days of product discovery, trend analysis and education, set to go live on July 21 to 23, 2020.
Dick’s Partners With Lindsey Vonn On Summer Scholarships
The Dick’s Sporting Goods Foundation partnered with The Lindsey Vonn Foundation (LVF) to give out $195,000 in Summer Scholarships.
VF Corp Donates More Than $10.3 Million To COVID-19 Relief Efforts
VF Corp., The VF Foundation, and the VF family of brands have donated more than $10.3 million in funds, products, and services worldwide to stem urgent medical needs, and help those struggling to cope in the face of the Coronavirus pandemic.
Kohl’s Q1 Sales Tumble 41 Percent
Kohl’s Corp. reported sales tumbled 40.6 percent in the first quarter to $2.43 billion from $4.09 billion a year ago. The department store operator has taken a series of measures to combat the pandemic, including cutting costs, lowering capex spending by about $500 million and suspending share buybacks and its quarterly dividend. It ended the quarter with about $2 billion in cash.
Outdoor Brands Invests In Public Lands Defense
The Conservation Alliance has awarded five grants from the organization’s Public Lands Defense Fund to groups working to defend the Roadless Rule, the National Environmental Policy Act, and Cascade Siskiyou National Monument. The awards were funded with the support of Velocio, Patagonia, and The North Face.
J.C. Penney Plans To Close 242 Locations
J.C. Penney, which filed for bankruptcy protection on Friday, plans to close 242, or 29 percent, of its 846 stores over the next two years, according to a filing with the Securities and Exchanges Commission.
Centric Brands Files For Bankruptcy
Centric Brands Inc., the apparel and accessories licensing firm, voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in order to execute a debt restructuring.
Monte Rosa Sports Acquires Odlo International
Monte Rosa Sports Holding has acquired Swiss-based apparel specialist Odlo International and its subsidiaries from Herkules Fund III.
Major League Soccer And US Youth Soccer Enter Strategic Partnership
US Youth Soccer (USYS) is pleased to announce that it has agreed to a strategic partnership with Major League Soccer (MLS) in a groundbreaking alliance bolstering player development in the United States.
Nike And Adidas Among J.C. Penney’s Top Unsecured Trade Creditors
Nike was left with an unpaid bill of $32.1 million in the bankruptcy of J.C. Penney, according to court documents. Other firms in the active lifestyle space landing on the list of the top-50 unsecured creditors included Adidas, owed $7.1 million; Supreme International, $5 million; Izod, $4.6 million; and New Balance, $3.2 million.
Under Armour Names Mohamed A. El-Erian As Lead Independent Director
Under Armour, Inc. announced that Mohamed A. El-Erian, a board member since 2018, has been appointed lead independent director of the company’s Board of Directors. El-Erian succeeds A.B. “Buzzy” Krongard, who has served in the lead director role since 2006.
Thin Air Virtual Media Show Invites Retailers To Register
Thin Air, the new virtual trade show for the outdoor industry to be held from June 24 to 26, has opened up registration to outdoor specialty retailers.
The Big Gear Show Postpones Inaugural Event To 2021
The Big Gear Show (BGS), an outdoor industry trade show focused on hardgoods, with an emphasis on paddling, cycling, climbing, and camping gear, announced the cancellation of its inaugural event, originally planned for July 22 to 25 in Salt Lake City.
VF Corp.’s Q4 Sales Sink 11 Percent
VF Corp. reported revenue in the fourth quarter ended March 31 decreased 11 percent on a reported basis and fell 10 percent in constant dollars. Among key brands, currency-neutral sales were down 6 percent at Vans, 13 percent at The North Face, 18 percent at Timberland, and 2 percent at Dickies. Companywide sales and adjusted earnings both missed Wall Street’s targets.
Nike Partners With The University Of Indianapolis
The University of Indianapolis athletics department entered into a multi-year partnership with Nike through BSN Sports. The agreement, which will commence on July 1 is part of BSN Sports’ Collegiate Select program.
