Moody’s, in a new report, predicted that “another dismal year” for U.S. department stores will accelerate change in 2020. The sector heavily underperformed the broader retail industry last year, despite continued investments and offering updates, the still-solid growth of the U.S. economy and strong consumer...
StockX, the sneaker resale marketplace, announced it surpassed $1 billion in gross merchandise value (GMV) in 2019 and grew global buyer and seller registrations by more than 100 percent. The platform, which also resells apparel, accessories and collectibles, focused heavily in 2019 on expanding its global...
Payless ShoeSource announced that it has emerged from bankruptcy proceedings, appointed a new executive management team, and plans to re-open stores in the U.S. The company filed for Chapter 11 protection in February 2019 and closed all its U.S. doors. The company has emerged from bankruptcy...
Zumiez Inc. announced that the company’s comparable sales increased 6.8 percent for the nine-week period ended January 4, 2020, compared to the nine-week period ended January 5, 2019. In the prior year, comparable sales increased 4.0 percent for the nine-week period ended January 5, 2019. Based...
K-Swiss announced it has signed both Ajla Tomljanovic and Cameron Norrie to endorsement pacts. Tomljanovic had been with Nike while Norrie was sponsored by Ellesse. Tomljanovic, 26, is the 52nd ranked women’s singles player in the world. “She has had strong results throughout her career and we...
The Nike Foundation made a $5 million donation to help build an athletic facility at the planned Obama Presidential Center on the south side of Chicago. Jorge Casimiro, Nike’s chief social and community impact officer and Nike Foundation president, said in a statement, “When President Obama’s...
Adidas announced the start of the third tranche of its current multi-year share buyback program initially announced in March 2018 and intends to repurchase own shares worth up to €1.0 billion in 2020. In total, under the current program, Adidas plans to buy back own shares...
PVH Corp. announced Thursday that it has entered into a definitive agreement to sell its Speedo North America business to Pentland Group, parent company of Speedo International Limited, for $170 million in cash, subject to a working capital adjustment. Speedo International licenses the Speedo trademark to...
JD Sports Fashion Plc announced an update on performance following the Christmas trading period. JD Sport said: “Against a backdrop of widely reported retail challenges in the Group’s core UK market, it is encouraging to report positive like-for-like trends in the Group’s global Sports Fashion fascias,...
Nike and the Chinese Athletics Association (CAA) signed a long-term partnership extension through to 2033. Nike first partnered with China’s athletics governing body in 2013 in a deal set to run from 2014 to 2021. The new agreement will last from 2022 to 2033, covering all...