SGB Update

Supra And KR3W Names President

K-Swiss Global Brands (KSGB), a division of the privately held Korean company E-Land Group and owner of the K-Swiss, Palladium, PLDM, OTZ Shoes, Supra and KR3W brands, appointed Steve Harden as president of Supra Footwear and KR3W Denim Co.

Kohl’s Announces CEO Succession Plan

Kohl’s announced Kevin Mansell, Kohl’s chairman, chief executive officer and president will retire in May 2018. Michelle Gass will assume the CEO role at that time. Sona Chawla, Kohl’s chief operating officer, will assume the role of president.

Nike’s Q1 Profits Slide

Nike reported earnings slumped 23.9 percent in the first quarter ended August 31 due to flat sales, eroding gross margins and expenses to cover workforce reductions as part of its Consumer Direct Offense. Earnings still came in 9 cents ahead of Wall Street’s consensus target.

Adidas Sports Marketing Head Arrested On Bribery Charges

Jim Gatto, the director of global sports marketing at Adidas, was arrested by the FBI as part of a bribery scheme. Gatto was charged with paying elite high school basketball players and their families up to six-figure sums to go to Adidas-affiliated colleges with promises to later sign with Adidas if they turned pro.