SGB Update Apparel
Stein Mart Enters Into Transaction To Go Private
Stein Mart Inc. entered into a definitive merger agreement under which an affiliate of Kingswood Capital Management, L.P. will acquire all of the outstanding common stock of Stein Mart not already beneficially owned by affiliates of Jay Stein, Stein Mart’s former CEO and current chairman of the Board of Directors, for 90 cents per share in cash.
NRF And RILA Welcome Signing Of USMCA Legislation
The National Retail Federation (NRF) and Retail Industry Leaders Association (RILA) each welcomed Wednesday’s signing by President Trump of legislation to implement the United States-Mexico-Canada Agreement.
H&M Appoints New CEO
H&M said Karl-Johan Persson has stepped down as CEO to assume the role of chairman, after his father Stefan said he would relinquish that role. COO Helena Helmersson has been appointed CEO.
RYU Apparel Seeks To Enter Consultant Agreement
RYU Apparel, the Vancouver-based athletic apparel brand, is seeking to raise $7 million in capital in order to enter a consulting arrangement and pursue a plan to bring RYU to profitability over the two-year period.
Puma Becomes Beach Soccer World Wide Official Global Partner
Puma has become the official global partner of Beach Soccer World Wide (BSWW), the major sports entity behind the creation and growth of beach soccer.
Adidas Lays Out Roadmap To Be Plastic Free By 2024
Adidas is introducing two new fabrics that use 100 percent recycled polyester, Primeblue and Primegreen, and announced several more commitments as part of its goal to use only recycled polyester for its shoes and clothing by 2024.
Pittsburgh Top City For Football Fans
Pittsburgh topped WalletHub’s annual ranking of the best cities for football fans for the second year in a row. Coming in second was Boston, followed by Dallas, Green Bay and New York in the top five.
Sortis Holdings Launches $10M Growth Venture Fund
Sortis Holdings Inc., a Portland, Oregon-based alternative investment fund manager, launched Sortis Growth Venture Fund. The $10 million fund is a hybrid venture capital and consumer-focused private equity fund dedicated to accelerating the speed at which rising consumer brands can reach their full potential.
Play It Again Sports Parent Announces Governance Changes
Winmark Corporation, the parent of Play It Again Sports, announced that current executive chairman, John L. Morgan, 78, will retire as a director and as executive chairman, effective March 1, 2020.
Nike Facing SEC Investigation Over Illicit Payments, Jury Told
Nike Inc. is facing a probe from the U.S. Securities and Exchange Commission over illicit payments to elite youth basketball players, according to a lawyer for Micheal Avenatti, the celebrity lawyer facing trial for allegedly trying to extort millions of dollars from Nike, according to Bloomberg News.
J. Crew Names Former Victoria’s Secret Executive Its CEO
J.Crew Group Inc. appointed Jan Singer to serve as chief executive officer. Singer most recently served as CEO of Victoria’s Secret Lingerie and previously held leadership positions at Nike and Spanx.
Milliken Finalizes Acquisition Of Borchers
Milliken & Company has formally acquired Borchers Group Limited, a global specialty chemicals company known for its coating additives and specialty catalyst solutions from The Jordan Company, L.P.
Stephen Bebis Joins CEO Coaching International
Stephen Bebis, the founder of Golf Town and former head of Sports and Recreation, has become the newest partner and coach of CEO Coaching International, a leadership development consultancy.
Unifi’s Q2 Sales Increase 1.1 Percent
Unifi Inc., the producer of recycled and synthetic yarns, reported operating earnings improved in the second quarter ended December 29 as sales increased 1.1 percent Unifi slightly lowered its full-year earnings guidance as results were impacted by “softer-than-expected U.S. demand in certain categories, along with global market pricing pressures.”
Family Of Delbert Hayes Makes $3M Donation To Washington State
The family of the late Delbert Hayes, one of the earliest employees at Nike, made a $3 million donation to establish the Delbert J. Hayes Scholarship in Accounting in the WSU Carson College of Business.
