SGB Update Apparel
VF Corp. Closes Inaugural €500 Million Green Bond
VF Corp. announced the closing of its €500 million green bond offering, representing the first green bond issued in the apparel and footwear industry. The amount equivalent to the net proceeds from the offering will be used to advance programs within the company’s Made for Change Sustainability & Responsibility strategy.
Acushnet’s Earnings Soar In Q4
Acushnet Holdings Corp., the parent of Titleist, reported net income rose 57.0 percent in the fourth quarter on a 7.3 percent sales gain. Net earnings rose 21.2 percent in the year on a 2.9 percent sales increase.
RYU Apparel Inc. Sets Major Restructuring
RYU Apparel said it has scaled back growth plans, significantly reduced its corporate headcount and closed two mall locations due to challenges the four-year-old activewear brand has faced securing funding.
BSN Sports Announces Partnership With National Pro Fastpitch
BSN Sports, a division of Varsity Brands, announced a partnership with National Pro Fastpitch (NPF), the United States’ leading professional women’s softball league. The move marks BSN Sports’ latest investment in the growth and success of female athletics – and women’s softball in particular.
Revolve Sees 16 Percent Q4 Growth
Revolve Group, the fashion e-tailer, reported sales in the fourth quarter ended December 31 rose 15.5 percent to $147.6 million from $127.7 million.
Tokyo Olympics May Be Cancelled If Coronavirus Not Contained By Late May
The 2020 Tokyo Olympics are more likely to be canceled than moved or rescheduled if by late May the coronavirus outbreak is deemed too dangerous to go ahead with the original schedule, according to International Olympic Committee member Dick Pound.
Golf Celebrity Gary McCord To Speak At NSGA Management Conference
Gary McCord, the popular golf television analyst, author and speaker, has signed on as a keynote speaker at the National Sporting Goods Association (NSGA) 56th Annual Management Conference & 22nd Annual Team Dealer Summit.
SquadLocker Attracts $20 Million Investment
SquadLocker, a leading uniform and custom team gear provider, announced the closing of a $20 million Series C funding round led by late-stage growth company investor ABS Capital Partners.
Big 5 Warns Of Q1 Loss
Big 5 Sporting Goods Corp. reported earnings of $356,000, or 2 cents share, in the fourth quarter, rebounding from a loss a year ago. But the retailer said it expects a loss in the first quarter as winter weather conditions have softened significantly over the course of the period. Same-store sales are currently running down approximately 10 percent in the quarter.
Modell’s Releases List Of Planned Store Closures
Modell’s Sporting Goods’ list of the 19 stores it plans to close includes nine locations in its hometown of New York City. The retailer initially said it planned to close 24 stores but rent concessions will keep five open.
Macy’s Q4 Exceeds Wall Street’s Target
Macy’s Inc. reported both earnings and sales were down in the fourth quarter but sales were down less than expected and earnings exceeded Wall Street’s consensus target.
Wolverine World Wide Sees Five Percent Growth In Q4
Wolverine World Wide Inc. reported sales rose 4.8 percent in the fourth quarter, boosted by mid-teens revenue growth from Merrell and Sperry and saw earnings top Wall Street’s guidance. For the current year, however, the company provided a soft outlook, citing the negative impact of the coronavirus outbreak.
VF Corp. Again Recognized For Ethics
VF Corp. has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World’s Most Ethical Companies for the fourth consecutive year.
GymShark To Open First Pop-Up Store
GymShark, the U.K.-based fitness apparel start-up, announced the opening its first-ever pop-up store in Central London.
Modell’s Issues Statement Seeking Outside Investor
Modell’s Sporting Goods on Monday announced that the retailer was formally launching a “crowdsourcing campaign” to find an outside investment to support the retail business. The company also said that on Saturday, Mitchell Modell, CEO and one of his landlords negotiated a deal to reverse the closure of four stores that were announced last week.
