January 09, 2020
PVH has agreed to sell the North American and Caribbean business, including the trademark rights which it held in perpetuity, for $170 million in cash, uniting the Speedo brand globally under a single owner just prior to the Tokyo Olympics when the brand gets by far its most important exposure.
The new apparel brand was developed in-house by Target’s designers, and launches later this month, replacing C9 by Champion in the mass merchant’s 1,800-plus stores and online.
Although the details remain obscure, China finally confirmed that it will send a delegation to Washington next week to sign the Phase One trade deal between the two countries.
A competitive and discount-driven firearms and ammunition market along with the shorter Holiday selling season hurt store traffic more that expected, and SPWH now forecasts Q4 comps to be -6% to -7% with total sales in the range of $250 to $254 million.
Nikki Neuburger, a 14-year Eager Beaverton whose career there culminated as global vice president of Nike Running, joins LULU as chief brand officer, a newly created position.