September 19, 2022
After revising the department store’s outlook to negative in July, S&P Global followed through by lowering its issuer credit rating and secured unsecured debt rating on Kohl’s to BB+ from BBB-.
The $3.6 billion sale of the sourcing giant’s logistics unit to Maersk, which closed at the end of Aug., led both S&P Global and Moody’s to downgrade Li & Fung due to the loss of the source of more than half of last years EBITDA.
The Swedish helmet technology company is guiding a hit to sales and profitability for H2 from retailers’ inventory glut in bicycles and accessories.
To celebrate National Public Lands Day, Dick’s SG’s outdoor specialty store concept announced that it’s doubling its 1% of sales giveback in-store and online for the week of Sep. 18 through Sep. 25, and plans to open four new locations this fall.
Firearms imports posted another down month in June, according to ITC data compiled by the NSSF, with handguns falling 30% to 338,762 units, including a 32% drop in pistol imports to 310,934, while revolvers were flat at 27,828 units.