SGB Update Footwear
Crocs Faces Potential Debt Downgrade
Moody’s Investors Service and S&P Global Ratings placed Crocs, Inc.’s debt ratings on review for downgrade to reflect the impact of its planned acquisition of Heydude.
Crocs To Acquire Heydude
Crocs Inc. announced that it has entered into a definitive agreement to acquire Heydude, a privately-owned casual footwear brand, for $2.5 billion.
Salazar’s Lifetime Ban Upheld By Safesport Center
The U.S. Center for SafeSport on Wednesday upheld its permanent ban of former Nike Oregon Project coach Alberto Salazar,
U.S. Golf Rounds Slide In November
According to Golf Datatech, U.S. rounds of golf were down 17.6 percent in November 2021 against November 2020, but still up 5.6 percent in the first 11 months of the year.
Decision On ‘Container Dwell Fee’ On Hold Until December 27
Further consideration of the “Container Dwell Fee” will be postponed until Dec. 27, the Port of Long Beach and the Port of Los Angeles announced.
Orangetheory Fitness Appoints Chief Fitness And Product Officer
Orangetheory Fitness announced that it has appointed Ryan Flaherty as chief fitness and product officer effective immediately. Flaherty was most recently the vice president of performance and activity for Nike.
SFIA Trends In Team Sports Report Reveals 2020 Organized Participation Down
The Sports & Fitness Industry Association (SFIA) released its 2021 U.S. Trends in Team Sports Report that shows the total number of Americans participating in a team sport dropped by 3.8 million players in 2020.
NPD: Clothing, Fashion Accessories, Footwear, And Beauty Lead Holiday Self-Gifting Options
Findings from an NPD Group survey, conducted in conjunction with partner CivicScience, found that among the consumers who plan to buy a gift for themselves during the holidays, half (51 percent) expected to buy apparel, followed by accessories at 35 percent, and beauty and footwear products at 31 percent.
Skechers Announces Changes To Its Board Of Directors
Skechers USA Inc. announced that Zulema Garcia has been named to its Board of Directors and appointed to serve on the company’s Audit Committee. The company also announced that four current members—Jeffrey Greenberg, Geyer Kosinski, Richard Rappaport, and Tom Walsh—have resigned from the Board bringing the total number of directors to seven.
Inside The Call: North America And Digital Power Nike To Q2 Beat
Nike Inc.’s fiscal second-quarter earnings and sales topped Wall Street’s expectations as strong momentum in North America helped offset a steep decline in China. The sportswear giant maintained its guidance for the full year. Major themes on Nike’s analyst call included continued hyper-growth in digital, the Nike One Place reset accelerating Nike’s direct growth, healthy full-price sales, and ongoing, but not-worsening, supply chain disruption.
Port Of Los Angeles Headed To Record Cargo Year
The Port of Los Angeles is on track to break a new record for cargo throughput in 2021, processing more volume than any port in the Western Hemisphere. With two weeks left in the year, the Port said it anticipates its final volume will be approximately 10.7 million Twenty-Foot Equivalent Units (TEUs), about 13 percent more than its previous record set in 2018.
Skechers Announces New Operations In The Philippines
Skechers announced that it has transitioned its operations in the Philippines from a third-party distributor to Skechers USA Philippines, Inc. to maximize its growth in the region.
Alpargatas To Buy Rothy’s Stake
Alpargatas SA, the Brazilian owner of flip-flop sandal maker Havaianas, reached an agreement to buy as much as 49.9 percent of sustainable footwear brand Rothy’s, Inc. Rothy’s earns a valuation of $1 billion with the transaction.
Nike’s Q2 Exceeds Wall Street Targets
Nike Inc. reported earnings for the second quarter ended November 30 rose 7 percent and easily topped Wall Street’s consensus target. Sales inched up one percent, led by Nike Brand Digital growth of 11 percent, while gross margins improved 280 basis points.
Reebok Secures Commitment From JD Group
Authentic Brands Group (ABG), which reached an agreement to acquire Reebok in August, announced a new strategic partnership with the JD Group (JD). Through the long-term agreement, JD will carry Reebok apparel and footwear in more than 2,850 of its company-owned stores and websites.
