Allbirds Expands And Extends Credit Line
Allbirds, in a regulatory filing, reported entering into an amendment agreement with JPMorgan Chase Bank, N.A., that increases borrowings available under its credit line and extends the maturity date from February 20, 2024 to April 17, 2026.
Li Ning Sees Franchise Stores And E-Commerce Drag On Q1 Retail Business Growth
Li Ning Company Limited reported retail sell-through at Li-Ning stores for the first quarter that ended March 31, excluding Li-Ning Young, increased in the mid-single-digits on a year-over-year basis.
Levi Strauss Snaps Up New SVP And Chief Marketing Officer
Levi Strauss & Co. hired Kenny Mitchell as Levi’s brand’s senior vice president and chief marketing officer, effective June 5, reporting to Michelle Gass, president of Levi Strauss & Co.
JCPenney Appoints Chief Customer Officer
JCPenney hired Katie Mullen as chief customer officer. Mullen previously was JCPenney’s chief digital officer and will continue overseeing e-commerce strategy and omnichannel development driving digital, data and analytics.
Club Champion Adds Three Locations
Club Champion opened two new locations in Kingwood and Midland, Texas, respectively, and one in Farragut, TN. Club Champion reported it is “primed to open over 125 domestic and international locations by the end of the year.”
American Outdoor Brands Secures Trademark And Patent Settlement Agreement With GSM Outdoors
American Outdoor Brands, Inc. executed an agreement on April 6 with Good Sportsman Marketing, LLC (GSM) to settle litigation related to GSM’s improper use of trademarks owned by AOB and allegations of infringement of AOB’s patent rights.
Norrøna Acquires Canvas Hotel Telemark
Norrøna reported it acquired the Canvas Hotel Telemark, a wilderness lodge, including luxury yurts, for mountain bikers, with over 100 kilometers of slick rock trails connected by singletrack.
Cascade Designs, Inc. Hires Director Of Varilite
Cascade Designs, the parent company of MSR, Therm-a-Rest, Platypus, SealLine, PackTowl, and Varilite, hired Kevin Cooke as director of Varilite, the manufacturer of air-foam floatation wheelchair seat cushions and back supports.
Arc’teryx Opens Third Store In Chicago
Arc’teryx opened a third store in Chicago located west of downtown. The new store occupies 4,788 square feet in the Oakbrook Center and is the brand’s 28th store in the U.S.
Solidcore Founder Sells Company To Kohlberg & Co.
Solidcore, the fitness boutique, announced that Anne Mahlum, who founded the fitness boutique in 2013, is selling all of her shares to Kohlberg & Company for an undisclosed amount. As part of this transaction, the proceeds will support an incentive pool for employees created in 2018. All full-time employees with the company for at least a year prior to the transaction will receive a portion of the proceeds.
Kohl’s Debt Ratings Downgraded By Moody’s
Moody’s Investors Service downgraded Kohl’s Corp. due to the continued deterioration in credit metrics and the erosion of the retailer’s market position as it enacts a turnaround to its operating performance in 2023.
Farfetch Hires Chief Marketing Officer
Farfetch, the luxury fashion platform, hired Nick Tran as chief marketing officer. Most recently, Tran was the global head of marketing at TikTok.
NSSF: Firearms Industry Economic Impact Surges 322 Percent Since 2008
The total economic impact of the firearm and ammunition industry in the United States increased to $80.73 billion in 2022 from $19.1 billion in 2008, a 322 percent increase, while the total number of full-time equivalent jobs rose to over 393,696 from approximately 166,000, a 136 percent increase in that same period, according to a report released by the NSSF, the firearm industry’s trade association.
Malibu Boats’ Chief Financial Officer Departs; Company Appoints Interim CFO
Effective immediately, Malibu Boats, Inc. hired David Black as interim chief financial officer. Malibu’s current CFO, Wayne Wilson, notified the company of his resignation to pursue a similar role at a private equity-backed company.
Topgolf To Become Global Medaled Event In Special Olympics
In 2024, Topgolf will be sanctioned with the Special Olympics, the first time a brand has become a medaled event. That means Special Olympic athletes can compete in Topgolf as an individual or with a team through Special Olympics Unified Sports.
