SGB Update

The Walking Company Reaches Agreement On Recapitalization

The Walking Company Holdings Inc., has announced that it has obtained critical stakeholder support for a comprehensive recapitalization of the company. The company’s controlling shareholders have committed to invest $10 million in new equity into the company and it has obtained debtor-in-possession (DIP) financing from it lender, Wells Fargo Bank, for up to $50 million.

NBA Considering Removing “One and Done” Age Limit

The NBA is considering ending the “one-and-done” age limit rule for players who want to enter the NBA draft in wake of the pay-for-play scandal roiling college basketball, according to a report from ESPN.

Nordstrom Rejects Take-Private Offer By Family Group

A special committee of Nordstrom’s board rejected a roughly $8.4 billion offer, amounting to $50 a share, from the founding Nordstrom family to buy the company, saying the price was too low.

VF Corp. Appoints Velia Carboni As Chief Digital Officer

VF Corp. announced the appointment of Velia Carboni, formerly at Fidelity Investments, to the new position of chief digital officer. She will report to VF’s chairman, president and CEO, Steve Rendle, and will serve on the company’s senior leadership team.

Any Metal Tarriffs Unlikely To Impact Sporting Goods Industry

President Donald Trump’s announcement that he plans to order new tariffs on steel and aluminum isn’t likely to impact  sporting goods or outdoor gear suppliers, according to analysis by the Sports & Fitness Industry Association (SFIA).

Nautilus’ Q4 Earnings Drop On Impairment Charge

Nautilus Inc. reported earnings slid in the fourth quarter after absorbing an impairment charge for the Octane Fitness trade name. Operating income before the charge fell 21 percent due to lower gross margins and increased media spend. Revenues grew 1.7 percent.