SGB Update Footwear
Golden Goose Debt Ratings Affirmed After Suspended IPO Process
S&P Global Ratings affirmed Golden Goose SpA ‘s debt ratings and removed the ratings from CreditWatch Positive as the Italy-based luxury footwear company has suspended its plans to undergo an initial public offering (IPO).
Sqairz Secures Strategic Investment to Expand Across Sports
Golf footwear upstart Sqairz announced a “significant” strategic investment from Thirty-5 Capital. The funding will be used to help Sqairz expand across multiple sports, including baseball and pickleball.
Association of Golf Merchandisers Adds Vendor Advisory Board Member
Susan Shade is an industry veteran with over 30 years of professional management experience in apparel, golf, fitness, and e-commerce. At Tharanco Lifestyles, Shade oversees the golf division, which includes distributing the Greg Norman Collection to over 50 countries.
NuOrder by Lightspeed Appoints New Head of Revenue
Chris Akrimi, most recently, was the CEO of The Layer, a tech company that “transforms commerce data through AI. ” There, he focused on positioning the company at the “forefront of AI-driven product data management.”
Footasylum Secures Funding to Drive Expansion
The company secured a £35 million ($46 mm) revolving credit line from HSBC to support expansion and sustainability initiatives, and set a goal to achieve carbon net zero for Scope 1 and 2 emissions by 2030 and Scope 3 by 2040.
JCPenney Bogged Down by Soft Traffic in Q2
The retailerr eported a net loss of $96 million in the second quarter, which ended August 3, as same-store sales declined 7.7 percent. The loss compares with earnings of $19 million a year ago. Net sales declined 8.9 percent to $1.53 billion from $1.68 billion.
Adidas’ UK Sales Fall 9 Percent in 2023
Companywide, Adidas’ sales in 2023 declined 5 percent to €21.4 billion in Euro terms with flat currency-neutral revenues. The discontinuation of the Yeezy business represented a drag of around €500 million on the year-over-year comparison during 2023.
Long-Time Nike Board Member Douglas Houser Passes Away
Douglas Houser, an attorney who incorporated Nike and served on the company’s Board of Directors for 50 years, passed away at the age of 89.
Mytheresa to Acquire Yoox Net-a-Porter from Richemont
Richemont will sell YNAP to Mytheresa with a cash position of €555m and no financial debt, subject to customary closing adjustments. The transaction will create a multi-brand digital group. The closing of transaction is expected to be in H1 2025.
On Brand to Open First Australian Store
The 390-square-meter flagship store draws inspiration from Melbourne’s “urban landscape,” is is the company’s 42nd globally.
Shoe Carnival’s Chief Merchant to Retire Next Spring
Carl Scibetta, senior executive vice president and chief merchandising officer, plans to retire in spring 2025 after working for over 50 years in the retail industry.
Salomon Opens Pop-Up In New York City, Plans Store Openings
The brand’s first store in SoHo, will serve as a test for Salomon as it plans to open five stores in 2025, beginning with a permanent space in New York City.
Dawgs Secures Federal Circuit Win Against Crocs
Dawgs and parent Double Diamond Distribution Ltd. reported that Crocs must return to court to face allegations it violated federal false advertising laws with promotional claims that its shoes are made of “patented” materials.
Report: Growing Participation Rates Supporting Outdoor Rec Sales and M&A
Capstone suggested that financial performance across the sector is expected to improve as firms work through excess inventories, limit promotion activity, and mitigate margin pressures.
Academy Sports’ Debt Ratings Raised by S&P
S&P Global Ratings raised Academy Sports And Outdoor Inc.’s debt rating because the retailer has sustained S&P’s adjusted leverage well below the 2x area despite modest EBITDA margin contraction.
