SGB Update Apparel
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.
Asics’ Q4 Sales In North America Show Modest Decline
Asics Corp.’s sales in the North American region in the fourth quarter slid 5.5 percent to ¥18.8 billion ($171 mm) from ¥19.9 billion a year ago. The operating loss in the region was reduced to ¥2.12 billion ($19 mm) from ¥2.95 billion.
Moody’s Downgrades Under Armour’s Debt Rating
Moody’s Investors Service downgraded Under Armour Inc.’s senior unsecured rating to Ba1 from Baa3. The rating was also placed under review for further downgrade. The downgrade reflects the brand’s ongoing challenges reinvigorating growth in its core North American market and its potential 2020 restructuring plan.
Vuori Hires Senior Director Of Retail
Vuori, a performance apparel brand based in Encinitas, CA., hired Catherine Pike as senior director of retail. Pike most recently served as the executive vice president of franchise operations for FIT4MOM and formerly headed the southwest territory for Lululemon.
Puma Signs Grammy-Winning Artist J. Cole For Footwear And Apparel Deal
Puma signed a multi-year footwear and apparel deal with Grammy-winning artist J. Cole.
Unifi Announces Recipients Of Third Annual Repreve Champions Of Sustainability Awards
Unifi Inc. announced recipients of the third annual Champions of Sustainability awards, recognizing companies driving sustainability.
Rapha Relocating To Bentonville, Arkansas
Rapha, the cycling apparel brand, is relocating its North American operations from Portland, OR to Bentonville, AR on March 1.
