SGB Update Apparel
Under Armour Faces #MeToo Moment
Under Armour in a letter to employees vowed to shore up its culture after the Wall Street Journal came out with an extensive report on years of sexual misconduct at the firm, including a past practice of letting employees expense strip club visits.
Adidas Close To Signing Record Deal With Real Madrid
Adidas is set to sign a record-breaking deal to renew with Real Madrid. The ten-year deal is valued at €1.1 billion (U.S. $1.25 bn), according to Marca.
Fanatics Terminates Nascar Deal
Fanatics has terminated its ten-year trackside sponsorship deal with Nascar six years early as a result of low race attendances, according to a report from Sports Business Daily.
Clarus Raises EBITDA Margin Outlook On Record Sales In Q3
Clarus Corp. on Monday raised its EBITDA margin outlook to 9.5 percent from 8.5 percent after the company reported sales for the third quarter ended September 30 jumped 22 percent to a record $55.7 million, which also beat Wall Street targets by $2.5 million.
Adobe Forecasts $124 Billion In U.S. Online Sales This Holiday Season
Adobe predicts that U.S. online sales will increase 14.8 percent, totaling $124.1 billion, while offline retail spending is expected to increase a modest 2.7 percent.
361 Degrees Launches Retail Racing League
Kicking off mid-2019, the league will be comprised of teams from run specialty retailers who will compete at local races over an eight-month period to win the opportunity to run the final race in early 2020 and take home the coveted $50,000+ prize purse.
Asics Slashes Guidance On Weak Nine-Months Results
Asics significantly lowered its outlook for the year after reporting a steep decline in profits in the nine months on a 4.7 percent revenue decline. The Americas region showed a loss in the nine months on a 17.8 percent sales drop.
Amazon Drops Minimum Purchase Requirement For Free Holiday Shipping
Amazon said that beginning November 5, and for a limited time, all Amazon customers can enjoy free shipping with no minimum purchase amount on orders that will arrive in time for the Christmas holiday.
Moody’s Lifts Outlook For US Apparel And Footwear Industry
The outlook for US apparel and footwear manufacturers has been changed to positive from stable, Moody’s Investors said in a new report. After two challenging years, earnings growth is accelerating beyond the rating agency’s previous expectations and is expected to remain robust over the next 12 to 18 months. The agency cited the progress of Nike, Inc., PVH Corp. and VF Corp.
Cherokee Appoints Evan Hengel To Board
Cherokee Global Brands appointed Evan Hengel to the company’s board of directors. Hengel will serve as a director of the company effective immediately.
Surfrider Foundation Launches ‘United States And Oceans of America’
The Surfrider Foundation, a nonprofit organization dedicated to the protection of clean water and healthy beaches, launched its nationwide United States and Oceans of America (USOA) campaign to rally Americans to join the bipartisan fight to protect our oceans and coasts for the future.
L.L.Bean To Expand Presence In Canada
L.L.Bean announced its first-ever entrée into the Canadian wholesale and brick and mortar retail market this fall with an exclusive agreement with Jaytex Group to distribute a broad assortment of L.L.Bean products. Jaytex Group, a 40-year old company, is a Canadian distributor of high-quality brand name outerwear and apparel.
Oros Closes $5 Million Funding Round
Oros, a digitally native performance apparel brand based in Cincinnati, OH, has secured a $5 million financing round.
Canada Goose Steps Into Footwear With Acquisition of Baffin
Canada Goose Holdings Inc. on Thursday afternoon announced that it has acquired Baffin Inc., a Canadian designer and manufacturer of performance outdoor and industrial footwear, for C$32.5 million (US$24.8 million).
Duluth Holdings Announces Opening of 44th Store in Oklahoma City
Duluth Holdings Inc. (dba, Duluth Trading Company), a lifestyle brand of men’s and women’s casual wear, workwear and accessories, on Thursday announced the grand opening of its 44th store in Oklahoma City, OK.
