SGB Update Apparel
Mad Engine Acquires Mighty Fine
Mad Engine LLC, a leading full-service apparel company, formally announced that it has completed its acquisition of Mighty Fine Inc.
Top Honors Awarded In New England
Based on a voting process that included all the New England winter sales reps, Rich Brachold, owner of Village Ski & Snowboard Shop in Franklin, Massachusetts, earned EORA/NESR’s Winter Retailer of the Year award.
NRF Statement On Administration’s Infrastructure Plan
National Retail Federation President and CEO Matthew Shay said, “We appreciate the President’s attention to the urgent need to rebuild America’s outdated infrastructure, which has long been a priority for NRF and our members.”
Puma Operating Profits More Than Double In Q4
Puma reported fourth-quarter earnings slightly more than doubled with the help of strong sales growth combined with an improved gross profit margin. Puma also said it expects currency-adjusted net sales will increase by approximately 10 percent in 2018.
Yue Yuen’s Sales Dip 1.8 Percent In January
Yue Yuen reported consolidated operating revenue reached $737.1 million in January, down from $750.5 million a year ago.
Iconix Brand Group Announces Private Exchange Of $110 Million Of Its Convertible Note
John Haugh, CEO of Iconix, commented, “These exchange transactions are part of the company’s strategy to satisfy near-term debt obligations and represent a positive step in improving our balance sheet. We are also announcing a cost savings initiative to improve our profitability and free cash flow.”
Puma And AC Milan Announce Long-Term Partnership
Puma and Italian Serie A football club AC Milan announced an official long-term partnership. The legendary club had been with Adidas since 1998.
Starboard Delivers Letter To Newell CEO And Board Of Directors
In a letter to the board of Newell, Starboard Value LP said it plans to nominate three former Jarden executives (Ian G.H. Ashken, Martin E. Franklin and James E. Lillie) and a former long-time Newell Director (Domenico De Sole) to its slate of director candidates to oversee a turnaround of the company.
L.L. Bean Drops Unlimited Returns Policy
L.L. Bean has ended its lifetime-returns policy due to rampant abuse in recent years. The retailer has initiated a new one-year limit on returns.
U.S. Soccer Elects Carlos Cordeiro President
U.S. Soccer’s membership elected Carlos Cordeiro as U.S. Soccer’s 32nd President during the National Council Meeting at the Federation’s Annual General Meeting (AGM).
Frank A. Dassler To Retire From Adidas
According to Adidas, Frank A. Dassler retired at the end of January. The grandson of Puma founder Rudolf Dassler, was most recently head of the Adidas legal department and will remain closely associated with the sports equipment company in retirement.
LVHM Luxury Venture Partners With Stadium Goods
LVHM Luxury Ventures has formed a “partnership” with Stadium Goods, the New York City-based sneaker consignment giant.
Newell Brands Confirms Receipt Of Starboard Value’s Director Nominations
Newell Brands confirmed that it has received notice from Starboard Value and Opportunity Master Fund Ltd. of its intention to nominate 10 candidates to stand for election to the Newell Brands Board of Directors at the company’s 2018 Annual Meeting of Shareholders.
Kevin Garnett Returns To AND1 As Global Ambassador
Sequential Brands Group Inc. announced a multi-year partnership with NBA legend Kevin Garnett as the creative director and global brand ambassador for AND1, the iconic basketball brand which began in 1993.
Columbia Sportswear’s Q4 Revenues Climb 8 Percent
Columbia Sportswear reported earnings excluding a massive tax charge and restructuring costs rose 9.2 percent on an 8 percent revenue gain. U.S. net sales increased 8 percent to $492.6 million, reflecting growth in DTC and benefits from a shift in the timing of shipments of Fall 2017 advance wholesale orders from the third quarter to the fourth quarter.
