February 18, 2019
The president of Fila North America and global chief commercial officer of the brand died Friday, several days after undergoing heart surgery.
She has been COO of Fila North America since 2015 as well as a member of the managing board and head of licensing for the holding company.
The second filing in two years will leave some 1,400 franchised and licensed stores around the world open but close all of the U.S. and Puerto Rico locations.
Sir Sneaker has acquired an 8.3% stake in the smaller U.K. sneaker chain, which has been buffeted by the slowdown in the U.K. economy, and said it might acquire as much as 29.9% of the chain.
Sumitomo Rubber’s sports division revenues declined 14% to ¥19.9 billion ($180.2 mm) in the final quarter due to lower sales in the home Japanese market, which became increasingly promotional as the year progressed, and operating income was halved to just ¥0.7 billion ($6.3 mm).
Descente’s central executive committee refused the tender offer from Itochu’s BS Investment Corporation, claiming the bid threatened the progress it has made building its brands and its relationships with its customers and labor union.
A 1.2% decline in Dec. retail sales amid a tumbling stock market and trade war saber rattling pulled down overall sales for the 2018 Holiday season to $707.5 billion, a 2.9% increase from 2017, according to the NRF’s analysis of Commerce Department data.
Although overall inactivity rates remained unchanged at 27.3%, there were slight increases in all seven major activity groupings of fitness, individual, outdoor, racquet, team, water and winter sports, according to the top line report issued by SFIA.
The Chinese footwear and apparel brand blamed worsening results through the end of the year on a more conservative Chinese consumer sentiment arising from the trade war with the U.S.