SGB Update Apparel
Gert Boyle Celebration Of Life To Be Held On December 5
The family of Gert Boyle, former chair of Columbia Sportswear Company, will host a Celebration of Life in her honor on December 5, 2019. The event will be held at Veterans Memorial Coliseum in Portland, OR.
Nike Appoints Thasunda Brown Duckett To Board
Nike Inc. announced that Thasunda Brown Duckett, CEO of Chase Consumer Banking, has been appointed to the company’s Board of Directors. Duckett represents the fourth woman on Nike’s current 14-member board.
Under Armour Disputes WSJ Accounting Irregularities Report
Under Armour Inc. issued a statement in response to a Wall Street Journal article, maintaining that its accounting practices have been “entirely appropriate.”
J. C. Penney Sees Lower-Than-Expected Loss
J. C. Penney Company Inc. reported a loss that was lower than expected in the third quarter and raised its guidance for EBITDA for the year. Same-store sales were down 6.6 percent.
REI Co-op To Open Four Stores On November 15
For the first time in its 81-year history, REI Co-op will open four new stores in a single day on November 15, bringing quality outdoor gear, experiences and expertise to Farmington, UT; Huntsville, AL; Oklahoma City and Williston, VT. By the end of the year, REI will have opened a total of eight new stores, relocated two existing stores to larger locations, and opened three new boathouses in 2019.
Nike Announces 11 Percent Increase In Quarterly Dividend
The payout will mark Nike’s 18th consecutive year of increasing dividend payouts. Said Mark Parker, Chairman, President and CEO of Nike, Inc. “This dividend increase, combined with the four-year $15 billion share repurchase program announced in 2018, reflects continued confidence in our strategies to generate long-term, profitable growth as we accelerate execution of our Consumer Direct Offense.”
Descente To Sponsor USA Triathlon
USA Triathlon (USAT) announced a partnership with Descente, based in Japan, to become USAT’s Official Outerwear Supplier for the next four years.
Conspiracy Charges Dropped In Michael Avenatti Nike Case
Federal prosecutors on Wednesday dropped two counts of conspiracy against Michael Avenatti from the case, which was first made public in March, according to a superseding indictment filed in federal court in Manhattan.
Adidas Renews Deal With Spanish FA
The Spanish FA (RFEF) confirmed a new kit deal with Adidas to remain as the official kit supplier for the Spanish national team. The new contract extends until December 2030.
Under Armour’s Debt Ratings Affirmed
Standard & Poors (S&P) affirmed the debt ratings of Under Armour as the firm’s credit metrics have improved as a result of reduced restructuring costs, driving EBITDA margin expansion and higher cash flow generation. The agency did note that the potential ratings impact of the recently revealed accounting investigation by the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) is uncertain
Hype and Vice Secures Funding
Hype and Vice (H&V), a Los Angeles-based startup making college licensed apparel for women, has raised $1.5 million in a seed round led by Founders Fund’s Delian Asparouhov.
Nike To End Pilot With Amazon
Nike will stop selling on Amazon, ending a pilot program that started in 2017. Nike said in a statement, “As part of Nike’s focus on elevating consumer experiences through more direct, personal relationships, we have made the decision to complete our current pilot with Amazon Retail.”
Canada Goose’s Q2 Revenues Climb 27.7 Percent
Canada Goose reported earnings rose 24.5 percent in the second quarter ended September 29 as sales grew 27.7 percent. Both earnings and sales topped Wall Street’s targets. The outerwear maker maintained its guidance for the year.
Iconix Q3 Revenues Fall
Iconix Brand Group Inc. reported revenues slumped 23.2 percent in the third quarter although operating earnings improved.
Volcom To Become Official Apparel Partner Of U.S. Snowboarding Team
Volcom signed an agreement to become the official apparel sponsor of the U.S. Snowboard team. Volcom will replace Burton.
