Moody’s Changes VF Corp.’s Debt Rating Outlook To Negative
Moody’s Investors Service changed VF Corp.’s outlook to negative from stable, reflecting the company’s weaker-than-expected near-term operating performance expectations, increasingly challenging operating environment and higher-than-expected debt levels.
Year-Over-Year Retail Sales Growth Continues In September
The U.S. Census Bureau said overall retail sales in September were unchanged from August but up 8.2 percent year-over-year. That compared with increases of 0.4 percent month-over-month and 9.4 percent year-over-year in August.
Neiman Marcus Group Sees Strong Growth In Fiscal Year
Neiman Marcus Group reported a strong recovery in its year that ended July 31 as sales increased 33 percent to $5 billion, including sales from leased vendor shops.
PacSun Showcases New Store Design In Fashion Valley
Pacsun opened its newest location in San Diego’s Fashion Valley. The retail space features a modernist design formula and layout for the youth-centric retailer. The Fashion Valley store is first brick-and-mortar location to pay homage to its foundation in mall culture.
Vuori Opens East Coast Flagship In New York City
Vuori has opened its first New York City flagship. The store, located in SoHo at 106 Spring Street, is the brand’s first East Coast flagship.
Goat Group To Acquire Grailed
Goat Group, Inc., which operates Goat and Flight Club, has agreed to acquire Grailed, the peer-driven resale marketplace for men’s luxury, streetwear, sneakers and vintage fashion.
Reebok Lists Its Boston Seaport Office To Sublease
Reebok has listed its entire Boston Seaport District office as available for sublease after moving into the space in 2017, according to a report from Boston Business Journal.
True Spec Chicago North Shore Opens At The Golf Practice
True Spec Golf has partnered with The Golf Practice, one of Chicago’s golf academies, on a new and larger location for True Spec Chicago North Shore.
Jack Wolfskin Hires Director Of Sales, South Europe & New Markets
German outdoor apparel, footwear and equipment brand Jack Wolfskin announced it hired Massimo Carnelli as director of sales, South Europe and New Markets.
Recall: Ancheer E-bikes
About 22,000 Ancheer E-bikes are being recalled.
Recall: Scuba Buoyancy Compensator Devices
About 1,350 Scuba Buoyancy Compensator Devices (BCDs) with LP inflator hose from Cressi-Sub USA are being recalled.
Thule Warns Of Lower Profits As Bike Market Weakens
Thule quantified its September announcement that the excess of inventory in Europe and North America would negatively impact its top line. Third-quarter sales are expected to decline 25 percent.
Snow Peak USA Announces New Leadership Structure
Snow Peak, the outdoor lifestyle brand based in Portland, OR, announced new leadership, including naming Noah Reis as vice president and chief operating officer, Snow Peak USA; Matt Liddle assumes the role of chief futures officer; and Yuichi Uchida was named chief brand officer.
Alterra Mountain’s Debt Ratings Upgraded
S&P Global Ratings raised its issuer credit rating on Alterra Mountain Co. to ‘B+’ from ‘B’ due to its improving leverage. S&P said it believes Alterra Mountain Co. will be able to sustain total leverage well below 6x even though S&P’S baseline assumption is for the U.S. economy to enter a shallow recession in early 2023.
Decathlon’s ‘A-2’ Short-Term Rating Affirmed On Strong Operating Performance
S&P Global Ratings affirmed Decathlon’s ‘A-2’ short-term credit rating on strong operating performance. S&P said consistent outperformance in 2021 and the first half of 2022 had positioned Decathlon favorably as market headwinds arise.
