SGB Update Footwear
Dick’s SG Completes Redemption Of Convertible Notes
Dick’s Sporting Goods, Inc. said in a regulatory filing it completed the conversion and redemption of its outstanding 3.25 convertible senior notes due 2025 and expected to reduce its annual interest payments by approximately $1.9 million.
Academy Sports + Outdoors To Open First Store In Peoria, IL
Academy Sports and Outdoors, Inc. reported it will open its first location in Peoria, IL, this summer; this is the second location in Illinois, set to open in Grand Prairie Plaza. The floor space covers over 60,000 square feet.
FitFlop Opens First U.S. Store
FitFlop, the ergonomic and wellness footwear brand, announced it opened its first U.S. store in the SoHo neighborhood in New York City.
Lululemon Promotes Two To EVP Positions
Lululemon promoted two members of its senior leadership team to EVP positions. Susan Gelinas was named chief people and culture officer, and Shannon Higginson was appointed chief legal and compliance officer.
Nordstrom’s Debt Ratings Outlook Lowered
Moody’s Investors Service changed Nordstrom, Inc.’s debt ratings outlook from stable to negative, reflecting Nordstrom’s continued operating challenges, particularly in its off-price Nordstrom Rack chain.
Allbirds Expands And Extends Credit Line
Allbirds, in a regulatory filing, reported entering into an amendment agreement with JPMorgan Chase Bank, N.A., that increases borrowings available under its credit line and extends the maturity date from February 20, 2024 to April 17, 2026.
Li Ning Sees Franchise Stores And E-Commerce Drag On Q1 Retail Business Growth
Li Ning Company Limited reported retail sell-through at Li-Ning stores for the first quarter that ended March 31, excluding Li-Ning Young, increased in the mid-single-digits on a year-over-year basis.
JCPenney Appoints Chief Customer Officer
JCPenney hired Katie Mullen as chief customer officer. Mullen previously was JCPenney’s chief digital officer and will continue overseeing e-commerce strategy and omnichannel development driving digital, data and analytics.
Norrøna Acquires Canvas Hotel Telemark
Norrøna reported it acquired the Canvas Hotel Telemark, a wilderness lodge, including luxury yurts, for mountain bikers, with over 100 kilometers of slick rock trails connected by singletrack.
Kohl’s Debt Ratings Downgraded By Moody’s
Moody’s Investors Service downgraded Kohl’s Corp. due to the continued deterioration in credit metrics and the erosion of the retailer’s market position as it enacts a turnaround to its operating performance in 2023.
Farfetch Hires Chief Marketing Officer
Farfetch, the luxury fashion platform, hired Nick Tran as chief marketing officer. Most recently, Tran was the global head of marketing at TikTok.
JD Sports Names Global Managing Director
JD Sports promoted Michael Armstrong, formerly group buying director, to the newly created role of global managing director. Armstrong is expected to “further drive the group’s growth” and “meet its ambition to become the leading global sports-fashion powerhouse.”
Amer Sports Hires Foot Locker Veteran As CFO
Amer Sports hired Andrew Page, former CFO for Foot Locker, as Group CFO of Amer Sports and a member to its executive committee. Page reports to Board Executive Director and CEO James Zheng.
Dick’s SG Hires New Chief Marketing Officer
Dick’s Sporting Goods’ Chief Marketing Officer Ed Plummer is retiring and will be replaced by PepsiCo’s Emily Silver.
Reima Appoints New Head Of Cluster For North America
Finnish kids’ activewear brand Reima, founded in 1944, hired Marc Cutilletta as head of North America, responsible for business and operations in the U.S. and Canada.
