SGB Update Apparel
Adidas’ China Business Activity Tumbles 85 Percent Due To Coronavirus
Adidas reported Wednesday that its business in the greater China area had dropped by about 85 percent year-on-year in the period since Chinese New Year on January 25.
Puma’s Q4 Revenues Climb 21 Percent
Puma reported earnings jumped 55.0 percent in the fourth quarter on a 30.6 percent revenue gain. All regions and all product divisions were up by double digits. Puma warned, however, that the coronavirus outbreak has been impacting 2020 results.
Golf Rounds Played Climb In December
Golf rounds played for December 2019 rose 8.3 percent nationally compared to a year ago, according to Golf Datatech. For the year, gold rounds played grew 1.5 percent.
Puma Signs Kendrick Nunn And Derrick Jones Jr.
Puma added Kendrick Nunn and Derrick Jones Jr., who both play for the Miami Heat, to the brand’s roster of NBA ambassadors.
Pop Warner Launches Its Own Uniform Brand
Pop Warner Little Scholars Inc., the nation’s premier youth football organization, is introducing its own brand of custom-designed tackle football, flag football and cheerleading uniforms. Pop Warner’s decision to create its own uniform brand is in response to local team administrators around the nation who wanted a simpler, more cost-effective and reliable alternative to ordering uniforms.
Anta Sports Sees Coronavirus Outbreak Impacting First-Half Results
Anta Sports Products expects the coronavirus outbreak will impact its financial performance in the first half of 2020 but is aiming for a recovery in the second half, the Chinese company said in a stock exchange filing. Roughly 40 percent of the company’s stores in mainland China have re-opened.
Moody’s Assigns A3 Ratings To VF’s Proposed Euro Notes
Moody’s Investors Service assigned A3 ratings to V.F. Corporation’s proposed senior unsecured Euro notes. The stable outlook reflects Moody’s expectation that the company will maintain its strong position in the global apparel industry and sustain longer term positive trends in revenue growth while continuing to generate healthy operating margins.
S&P Reduces Boardriders’ Outlook To Negative
S&P Global Ratings lowered its debt ratings outlook on Boardriders Inc. reflecting our revised expectations for negative free operating cash flows (FOCF) through fiscal 2020 and the potential for a covenant violation.
Moncler’s Revenues Expand Double-Digits In 2019
Moncler reported sales of €1.627 billion its year ended December 31, up 13 percent at constant exchange rates and 15 percent at current exchange rates.
Kering Not Pursuing Moncler Acquisition
Kering chairman and chief executive officer François-Henri Pinault refuted rumors that his firm is exploring the acquisition of Moncler, the Italian luxury outerwear label.
Farfetch Raises $250 Million
Farfetch Limited, the London-based fashion marketplace, announced that it has agreed to issue and sell, via a private placement, convertible senior notes in an aggregate principal amount of $250 million.
Barneys New York To Close Remaining Locations On February 23
Barneys New York plans to close its remaining locations by February 23, according to a government filing.
NBA To Lose ‘Hundreds Of Millions’ In China Over Hong Kong Tweet
NBA Commissioner Adam Silver said on Saturday that the league will likely lose “hundreds of millions of dollars” in lost sponsorships and broadcast revenue from its standoff with the Chinese government after an executive last year tweeted his support for Hong Kong’s protesters.
Michael Avenatti Found Guilty On All Counts In Nike Extortion Trial
Michael Avenatti, the celebrity lawyer, was convicted of all three charges related to his efforts to extort up to $25 million from Nike. Nike issued a statement after the guilty verdict: “The verdict speaks volumes. We thank the jurors for their time and service which is the bedrock of the American judicial system.”
Nike’s Chief Digital Officer Joins Epic Games
Adam Sussman, former chief digital officer at Nike, was appointed president of Epic Games, which makes numerous video games, including the popular Fortnite game.
