Adidas Places Yeezy Partnership Under Review
Adidas issued a statement saying it had placed its partnership with Kanye West supporting the Yeezy range “under review” after West had recently been publicly critical of the company and its CEO.
Peloton Issues Statement Denying Timeline On Sale Of Business
Peloton issued a statement denying reports that the company had a timeline to complete a turnaround or it would sell the business.
Levi Strauss Cuts Outlook On Macroeconomic Pressures In The U.S. And Europe
Levi Strauss & Co. reported earnings for the third quarter that ended August 28 came in slightly ahead of Wall Street’s estimates despite sales coming up short. Guidance was reduced for the year due to more modest expectations for the fourth quarter.
Golden Goose Acquires Italian Fashion Team
Golden Goose, the Italian luxury sneaker maker, acquired its main supplier, the Italian Fashion Team. Terms were not disclosed.
Norrøna Adds Midwestern Reps
Norrøna hired Grand Rapids, MI-based sales agency Kozy Outdoors, LLC, to its network of outdoor specialty retailers serving the Midwest region. The company also promoted Patrick Gould as U.S. sales rep, a newly created role.
RareWaters Expands Team, Hires CEO
RareWaters hired RJ Hosking as CEO and added to its sales and marketing team timed with its expansion into fly fishing in the Rocky Mountain region.
Academy Sports’ Debt Ratings Upgraded
S&P Global Ratings raised the debt ratings of Academy Sports + Outdoors, Inc. due to its recent better-than-expected performance, including S&P Ratings’-adjusted EBITDA margins of almost 19 percent over the last six quarters.
New York Road Runners Appoints CEO
New York Road Runners announced that Rob Simmelkjaer, a former NBC Sports Ventures and ESPN executive, was hired as chief executive officer, effective November 15, 2022.
Jordan Brand Hires VP/GM, Women’s
Nike’s Jordan Brand hired Tonia Jones as VP and GM of its women’s business. Jones is a 33-year Nike veteran.
Veil Camo Acquires Crane Graphics Converting Company
Veil Camo, based in Wichita, KS, has acquired has Crane Graphics. Crane Graphics is a heat transfer paper and hydrographic film converter that has been supplying Veil patterns since Veil was founded.
Peloton To Cut Another 500 Jobs
Peloton Interactive plans to cut another 500 jobs as part of its turnaround efforts; this is the company’s fourth round of layoffs in 2022.
The Buckle’s Comps Increase 2.7 Percent In September
The Buckle Inc. announced that comparable store net sales, for stores open at least one year, for the 5-week period ended October 1, 2022 increased 2.7 percent from comparable store net sales for the 5-week period ended October 2, 2021.
Under Armour Announces Two Executive Leadership Roles
Under Armour, Inc. named David Baxter as president of the Americas, succeeding Stephanie Pugliese who resigned from her position. Mehri Shadman was promoted as chief legal officer and corporate secretary, replacing John Stanton, who retires at the end of 2022.
Head Sportswear Increases North American Sales And Marketing Team
Head Sportswear hired Greg Johnson and Madison Steven to its North American sales and marketing team.
Accell Group Assigned “B” Debt Rating From S&P
S&P Global Ratings assigned a ‘B’ long-term issuer credit rating to Sprint HoldCo B.V., the holding company of Accell Group.
