SGB Update

Quiksilver Appoints VP, Global Marketing

Quiksilver has named Bobby Gascon as VP, global marketing. He joins the company following 13 years at Vans where, most recently, he was senior director of global marketing, Action Sports

Nike Shutting Down Run Club App In China

Nike is deactivating its Run Club app in China.  In a statement to Reuters, Nike said it plans to provide runners in China with an “enhanced and localized digital solution.”

Under Armour To Be Dropped From S&P 500 Stock Index

Under Armour will be deleted from the S&P 500 stock index before the start of trading June 21 and be added to the S&P MidCap 400, S&P Dow Jones said. The S&P 500 tracks the performance of 500 large companies listed on U.S. stock exchanges.

VF Corp. Debt Outlook Revised To Negative On Tax Ruling

S&P Global Ratings revised its debt ratings outlook on VF Corp. to negative from stable. The rating agency estimated VF will likely have to increase debt by more than $845 million to pay the assessed tax in order to appeal an unfavorable decision from the U.S. Tax Court regarding its post-acquisition restructuring of Timberland Co. in September 2011.

Puma Adds Swimwear License

Puma and United Legwear & Apparel Co., LLC (ULAC) announced that they entered into a licensing agreement in North America for the production, sales, marketing, and distribution of Puma swimwear for men’s, women’s and kid’s. 

IDC: Wearables Market Sees First Quarterly Decline As Demand Normalizes

The global wearables market faced its first-ever decline during the first quarter of 2022 (1Q22) as unit shipments totaled 105.3 million units, down 3.0 percent year over year, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker.

RealReal Founder Steps Down As CEO And Chairman

Luxury fashion consignor RealReal announced that after 11 years of leadership, its Founder Julie Wainwright has decided to step down from her role as CEO, chairperson and member of the board of directors.

Signa Sports Appoints CEO

Signa Sports United (SSU) has appointed Max Heimann as chief executive officer of the Internetstores Group. Heimann will lead SSU brands, including Fahrrad.de, Probikeshop, Addnature, and CAMPZ across Europe for SSU.