SGB Update

VF Corp. Spin-Off Completes Acquisition of Helly Hansen

Kontoor Brands Inc. (KTB), the former denim unit of VF Corp, completed the acquisition of Helly Hansen from Canadian Tire Corp. for approximately $900 million. The acquisition is expected to be immediately accretive to KTB’s revenue, earnings and cash flow this year.

Topgolf Callaway Completes Sale of Jack Wolfskin to Anta Sports

Topgolf Callaway Brands Corp. completed the sale of Jack Wolfskin to Anta Sports, the largest shareholder of Arc’teryx, Wilson and Salomon parent Amer Sports, for $290 million. Callaway acquired  Jack Wolfskin in 2019 for $476 million.

Stack Athletics Acquires Vulcan Pickleball

Chaifetz Group, owners of Major League Pickleball’s St. Louis Shock franchise and a broad portfolio of other organizations in the sport, also participated in the deal and will hold an interest in the merged companies and a seat on the newly created Board of Directors.

Shoe Carnival’s Sales Slide in Q1, Accelerates Shoe Station Expansion

Shoe Carnival, Inc.’s earnings fell in the first quarter as sales slid 7.5 percent. However, the family shoe chain said its rebanner strategy is seeing strong success and Shoe Station is now expected to represent over 80 percent of its store fleet by March 2027, up from a previous target of 51 percent.

Yue Yuen Appoints Board Member

Yue Yuen appointed Chou Wei-Te, executive assistant vice president at its retail arm, Pou Chen, to its board as an executive director. He replaces Chan Lu Min, who is retiring.

VF Appoints New Chief Accounting Officer

Michael Phillips succeeds Bryan McNeill, who is retiring after 30 years with the company. Phillips has served as the VP Enterprise Financial Reporting controller of the company since September 2022.

Nike’s Design and Innovation Chief John Hoke to Retire in the Fall

John Hoke, Nike’s chief innovation officer, is retiring after serving in the role since 2023. He first worked at Nike on stores and fixtures before getting into footwear. An architect by training, he is credited with designing a NikeTown store and buildings on the Nike campus.