Daily News Feed
Retail Crime Report Confirms Increasing Impact
The hard numbers for 2022 matched the headlines in 2023 as the National Retail Federation’s 2023 National Retail Security Survey arrived the same day as Target announced nine urban store closures and flash mobs hit Foot Locker and Lululemon stores in Philadelphia.
The two companies agreed to a five-year partnership where LULU becomes PTON’s primary athletic apparel partner, and PTON becomes the exclusive digital fitness content provider to LULU.
Total U.S. retail footwear revenues dropped by 3% from Jan. through Aug. compared to the year before, Circana reported, and unit sales were also lower.
Authentic Brands Group is partnering with Liberated Brands, in which it holds a minority stake, to be the retail and e-commerce operator for Quiksilver, Billabong, Roxy, RVCA, Honolua and Boardriders in the U.S. and Canada.
S&P Global assigned a BB rating to the proposed $350 million of 7.375% senior unsecured notes due in 2028, and gave a BB issuer credit rating to the Titleist parent.
Twenty-year Silicon Valley veteran, Nick Caldwell was named chief product officer, effective Nov. 1, succeeding the last remaining PTON O.G., co-founder Tom Cortese who will step into an advisory role with the company.
Next Level Apparel appointed retired company founder, Joe Simsoly as interim CEO, following the departure of Randy Hales from the blank supplier, according to ASI.
The family-owned tennis and pickleball retailer that has been serving the Hilton Head Island, SC community since 1982 has been acquired by Daryl and Kathy Daye, as well as Jeff and Heather Yakes from the Jilly family.
The struggling fitness equipment company received a warning letter from the NYSE because NLS shares closed below $1 over a 30 trading-day period.
Strong Performance at ABG Prompts S&P Upgrade
Better-than-expected results from Reebok, soaring margins and a $300 million debt retirement encouraged S&P Global to boosting its rating on Authentic Brands Group’s first-lien senior secured debt to BB- from B, on its second-lien senior secure debt to B- from CCC+.
SPWH appointed retail veteran Paul Stone as president, CEO and a member of the board, effective Nov. 1, succeeding chairman Joseph P. Schneider, who was serving in the roles on an interim basis since Apr.
The Japanese apparel company is selling the Le Coq Sportif trademark for Mainland China, to its consolidated subsidiary, Le Coq Sportif (Ningbo) Co., Ltd. for ¥4,900 million ($35.7 mm).
Surf Hardware International has relocated its global headquarters to Coffs Harbour, Australia and is now trading under the name Gowings Pacific Trader (GPT).
Acushnet Holdings intends to raise $350 million through an offering of senior notes due in 2028, with the proceeds used to repay existing borrowings under its secured revolving credit facility.
AOUT has reached a settlement with The Allen Company, which it accused earlier this year of infringing on several of its patents with multiple shooting accessories products.
Student Loan Payments Poised to Impact Footwear and Apparel Sales
Consumer demand this Holiday season will face an additional headwind beginning in Oct., when the 3.5-year-long pandemic-era pause in student loan payments comes to an end, disproportionately affecting a core demographic for sneakers and apparel.
Seven months after acquiring the outdoor retailer from Walmart, DKS will consolidate the banner under its existing Public Lands management team in Pittsburgh, and close most of its retail stores by Feb. 2024.
Permira, the private equity firm that bought Golden Goose from Carlyle for €1.28 billion, has hired a financial advisor to study an initial public offering (IPO) on the Milan stock exchange for the luxury sneaker brand.
National Park recreational visits increased by 1% to 36,472,869 from 36,060,607 in Aug., always one of the top months for park visitation across the U.S., and year-to-date visits are barely positive at 218,939,494 compared to 218,360,562.
The Big a filed a motion with the USPTO’s Trademark Trial and Appeal Board opposing five trademark applications by the Saudi-backed league.
The Biden administration authorized the organization through an executive order, aiming to create eco-friendly jobs for young people that help combat the effects of climate change.