Pou Chen Corp., the world’s largest maker of athletic shoes, has been ordered to suspend production at its Pouyuen Vietnam business over COVID-19 concerns, Vietnamese state media reported. Pouyuen Vietnam was ordered to suspend production for two days from Tuesday after failing to meet local rules...
Superfeet has lived by this truth: “People first — together we are more than a company, we are a community,” which is why the employee-owned business is rolling out two new programs to help support their specialty retail partners during this challenging time. For retail partners...
The North Face announced it will join in the fight against the COVID-19 pandemic with the donation of $1 million in grants through its social advocacy platform, The Explore Fund, as well as the donation of 60,000 gloves to U.S. healthcare professionals and first responders. Glove...
Puma has re-opened its store in Wuhan, China, the city where the coronavirus was first reported. The company plans to re-open its five other stores in the greater Wuhan region by mid-April. “The resilience and the motivation of the Chinese people are key elements in making...
PVH Corp. completed the sale of its Speedo North America business to Pentland Group, the parent company of the Speedo brand, for $170 million in cash, subject to a working capital adjustment. The proceeds from the transaction will further bolster PVH’s core balance sheet strength and...
Consumers in the U.S. are shifting their share of e-commerce spending toward apparel, footwear and accessories as the COVID-19 outbreak continues, according to new data from Klarna, a payments platform. The company, which has 4,000 retail partners in the U.S., analyzed all the transactions made through...
Under Armour Inc. announced actions it is taking to address the financial impact of the COVID-19 pandemic. Additionally, the company’s Board of Directors has approved a previously planned restructuring initiative designed to rebalance its cost base to further improve future profitability and cash flow generation. “In...
Nordstrom Inc. announced the appointment of two new members to its Board of Directors: Jim Donald, co-chairman of Albertsons Companies, Inc., and Mark J. Tritton, president and chief executive officer of Bed Bath & Beyond. “Donald built his career in the retail, food and hospitality industries...
Nike Inc. will provide an additional $1.6 million to help local organizations meet immediate needs, such as food assistance and medical care, in key cities and communities around the world where its employees live and work. “Our local communities are a critical part of our everyday...
Yue Yuen Industrial (Holdings) Ltd. recorded revenue of $10,105.4 million in 2019, representing an increase of 4.2 percent, compared with the previous year. Profit attributable to owners of the company declined by 2.1 percent to $300.5 million, as compared to $307.1 million recorded for the...