Moody’s Outlook For U.S. Retail And Apparel Industry Cut To Negative
Moody’s Investors Service has lowered its outlook from stable to negative for the US retail and apparel industry. The rating agency said inflation, geopolitical risks, supply chain challenges and falling demand point to broad profit declines, and operating margins will erode across every subsector.
Stitch Fix Appoints Chief Marketing Officer
Stitch Fix, Inc. announced Debbie Rose Woloshin is joining the company as chief marketing officer. Woloshin was previously the chief marketing officer at Marc Jacobs.
Varsity Brands’ Debt Ratings Upgraded
S&P Global Ratings upgraded the debt ratings of Varsity Brands Holding Co. Inc. as the company’s financial performance continues to improve as it recovers from COVID-19 pandemic lows.
Cotopaxi Appoints President
Cotopaxi announced it appointed Damien Huang as president of the company reporting to CEO and Founder Davis Smith. Huang was, most recently, CEO of Eddie Bauer.
Puma Opens Virtual Place On Roblox
Puma launched a sports-based experience on Roblox, the online gaming platform where participants compete in mini-games and training activities.
Nautilus Sales Fell 41 Percent In Fiscal Fourth Quarter
Nautilus Inc. reported sales were down 41.9 percent in the fourth quarter ended March 31. Sales grew 28 percent versus the fourth quarter of 2020 or 41 percent excluding the sold Octane business. The company lost money in the quarter but expects to achieve positive adjusted EBITDA for the second half of the current fiscal year.
Wilson Combat Acquires New Ultralight Arms
Wilson Combat has acquired the assets of New Ultralight Arms, LLC, based in Granville, WV.
Ebay To Open First Sneaker Store In Los Angeles
Ebay’s “Wear ‘Em Out” sneaker store is scheduled to open on Fairfax Avenue in Los Angeles this Memorial Day weekend. It is the e-tailer’s first retail store devoted to sneaker sales.
Belk’s President Named Interim Chief Executive Officer
Belk announced that president Don Hendricks had been appointed interim chief executive officer. Hendricks replaces Nir Patel, who left the company to join GameStop as chief operating officer.
Five Iron Golf Tees To Open In Cleveland
Five Iron Golf signed a lease at 1101 Euclid Avenue in Euclid Grand, OH, occupying approximately 16,000 square feet of ground-floor retail space; this is its second location in Ohio and the seventh in the Midwest with three current Chicago locations and two more in development in Michigan.
Camping World Acquires Richardson’s RV Centers
Camping World Holdings, Inc. announced an agreement to acquire Richardson’s RV Centers, adding to its position as the largest RV dealer in California.
Woolrich Sees 22 Percent Growth In 2021
Woolrich, acquired by Luxembourg private equity fund L-Gam in 2018, saw sales rise 22 percent sales in 2021, due mainly to investments in expanding direct-to-consumer sales, according to a report from WWD.
True Spec Golf Opens Denver Custom Fitting Studio
True Spec Golf announced that its seasonal Denver studio will open on May 24 for the 2022 season.
Rally House Opens Additional Store In Indianapolis
Rally House opened a new store in Plainfield, IN, joining several locations in the Indianapolis area.
Mammut Appoints New CEO
The Swiss outdoor company Mammut Sports Group AG has appointed Heiko Schäfer as CEO, effective September 1, 2022. Previously, Schäfer was the chief operating officer of Hugo Boss AG.
