Centric Brands has completed its financial restructuring and emerged from bankruptcy protection after filing in May. The company reduced its debt by roughly $700 million, leaving the bankruptcy process with a “stronger capital structure,” as well as access to “substantial” cash and liquidity. Under the restructuring,...
Amazon said third-party sellers surpassed $3.5 billion in sales on Prime Day, a nearly 60 percent year-over-year increase, growing even more than Amazon’s retail business. Prime members saved more than $1.4 billion during Prime Day. Some of the top categories for this year’s Prime Day included...
Asics announced the appointment of Richard Sullivan to president and chief operating officer for Asics North America (ANA). Barbara Turner will assume the role of chief administrative officer and Sean Condon has been named vice president, omnichannel. These changes to the Asics North America leadership...
VF Corp. reported earnings and sales declined in the second quarter ended September 26 as a result of the impact of COVID-19. However, both came in ahead of Wall Street’s consensus estimates. “Our year to date results have surpassed our internal expectations across all brands, driven...
Caleres Inc. announced Amy Hunter will join the company as VP of Diversity, Equity and Inclusion to drive its strategy development and organization and oversee the company’s affirmative action plans. She will also be tasked to recruit diverse candidates for open positions within the company...
Adidas is exploring a sale of its Reebok division, according to reports in Germany’s Manager Magazin and Bloomberg. A source familiar with the matter told Bloomberg the internal review is in the early stages with a decision to proceed with the sale to be decided in...
Imports reached an all-time high this summer as retail sales bounced back from the pandemic and merchants replenished inventories and stocked up early for the holiday season, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates. “After staying...
eBay announced the expansion of its Authenticity Guarantee service for sneaker sales on its platform. Through this program, all new and pre-owned collectible sneakers sold on eBay for over $100 in the U.S. will be fully vetted and verified by an independent team of industry...
CriticalPoint Capital, (CPC) the Los Angeles-based private investment firm and owner of JackRabbit and Olympia Sports, has completed the acquisition of Shoes.com from Walmart, Inc. Shoes.com is an online retailer of footwear, apparel and accessories in the U.S. and internationally offering shoe brands spanning athletic to...
VF Corp. appointed Steve Murray global brand president, The North Face. Previously VF’s president of the Americas Region, Murray replaces Arne Arens who has stepped down to pursue other opportunities outside of VF. In line with the company’s ongoing transformation initiative, VF has eliminated the role...