SGB Update Apparel
IOC Launches First Olympic Store For Chinese Fans With Alibaba
The International Olympic Committee (IOC) and Worldwide TOP Partner Alibaba Group announced the launch of the first-ever Olympic store on Tmall, China’s largest B2C marketplace for brands and retailers.
Sports Direct’s Earnings Sink On House of Fraser Costs
Sports Direct reported earnings dropped 27 percent in the first half ended October 28 due to the August buy-out of House of Fraser. Earnings improved slightly excluding charges and losses at its segment including Bob’s and EMS was reduced.
Genesco Agrees To Sell Lids To Fanzz
Genesco Inc. entered into a definitive agreement on the sale of the Lids Sports Group to FanzzLids Holdings, a holding company controlled and operated by affiliates of Ames Watson Capital, LLC. Ames Watson is the owner of Fanzz, a specialty retailer of officially licensed sports apparel. Fanatics Inc. will make a minority investment in FanzzLids Holding.
Cherokee Global Brands Narrows Guidance On Revenue Decrease
Cherokee Global Brands on Thursday narrowed its guidance for the fiscal year 2019 after reporting third-quarter revenues declined 25 percent as the company continues to transition from its DTR licenses to new wholesale licensing partners in the United States.
Fanatics Partners With University of Oregon In First College Deal
Marking its first licensing agreement with a university, Fanatics inked a 10-year deal with the University of Oregon to license, manufacture and sell its sports gear beginning on January 1, 2020.
Fanatics Forms Strategic Partnership With Jakprints
Fanatics Inc. and Jakprints Inc. announced a new five-year partnership deal that will allow Jakprints to support the domestic production needs of Fanatics. With this partnership Jakprints also announced the opening of a new 140,000-square-foot facility in Eastlake, OH, which includes a $7 million investment in state-of-the-art equipment and the creation of over 100 new jobs.
Farfetch To Acqure Stadium Goods
Farfetch Limited, a leading technology platform for the luxury fashion industry based in London, announced its definitive agreement to acquire Stadium Goods, the sneaker and streetwear marketplace, for an enterprise value of $250 million. Following the acquisition, Stadium Goods will continue to operate as a standalone brand on the Farfetch platform and will be led by its existing management team.
Under Armour’s Shares Slide On Weak Guidance
Under Armour Inc. at its Investor Day on Wednesday introduced the company’s 2023 strategic growth plan that calls for a return to a low double-digit growth rate by 2023. But shares of Under Armour fell $2.32, or 10.5 percent, to $19.80 as the company said it expects only low single-digit revenue growth on average over the next five years, including 3 to 4 percent growth in 2019 as gains overseas offsets flat sales in North America.
Report: Dick’s Among Companies Interested In Buying Some Stores From Sears
According to a report from Bloomberg, Dick’s Sporting Goods is among the companies that might be interested in buying some stores from Sears Corp. following that company’s bankruptcy. Sears is still weighing a $4.6 billion bid from its chairman, Eddie Lampert, but selling stores that Lampert needs as part of his turnaround plan would jeopardize that deal.
Mammut Partners With Jackson Hole Mountain Resort
Swiss-based outdoor brand Mammut has announced its appointment as an official partner of Jackson Hole Mountain Resort, Jackson, WY.
Columbia Sportswear Hires Peter Ruppe To Drive Footwear Growth
Columbia Sportswear has hired Peter Ruppe, a footwear industry veteran most recently at Under Armour, as VP of footwear. According to the Oregonian, Ruppe will guide an effort to double Columbia’s footwear sales within three years.
Stio To Open Store In Park City
Stio, the mountain lifestyle brand based in Jackson Hole, WY, announced the opening of its next Mountain Studio retail store in Park City, UT. The brand has leased a historic Main Street building and plans to open in mid-February.
The Buckle Sets Special Dividend, Hires General Counsel
The Buckle’s board authorized a $1.00 per share special cash dividend. The company also announced that Brady M. Fritz has been appointed to the position of general counsel and corporate secretary.
Eastbay Unveils Lookbook Cover Featuring Nike Women’s Basketball Stars
Eastbay unveiled its December lookbook cover and women’s holiday campaign, featuring five top WNBA stars :Sue Bird, Elena Delle Donne, Jewell Loyd, Breanna Stuart and Diana Taurasi.
VF Corp. Appoints Stefano Saccone To Vans’ EMEA Post
VF Corp. on Tuesday announced that Stefano Saccone has been appointed to the position of vice president, general manager of Vans, EMEA. Saccone will lead the brand and its business across the EMEA region beginning April 1, 2019.
