Adidas successfully placed two bonds in an amount of €1 billion in total. The 4-year bond of €500 million matures in September 2024 and has a coupon of 0.00 percent, while the 15-year bond of €500 million matures in September 2035 and has a coupon...
Pentland Brands Limited announced changes to its executive team. The changes include Chirag Patel becoming chief executive officer, having previously served as deputy chief executive officer. Patel started his career in the pharmaceutical and fitness industries before arriving at Pentland Brands and working in leadership roles...
VF Corporation, together with its Timberland brand, announced a collaboration with Redress for the Redress Design Award 2020. Through the collaboration, VF and the Timberland brand will lend their experience and expertise in sustainability to support the education and professional development of the industry’s next generation...
Under Armour, Inc. announced plans to close all UA Brand House and UA Factory House retail locations in the United States for Thanksgiving . All U.S. retail locations will re-open to the public on Friday, November 27. “This entire year has been unpredictable and for all...
Mall owners Simon Property and Brookfield Property Partners have reached an agreement in principle to acquire JC Penney out of bankruptcy proceedings in a deal valued at approximately $800 million, sources told the Wall Street Journal. The move will avoid a total liquidation and save...
Walmart has agreed to sell Shoes.com to CriticalPoint Capital, the Los Angeles based private investment firm and owner of JackRabbit and Olympia Sports, according to a report from Bloomberg. Walmart bought Shoes.com’s intellectual property for $9 million in 2017. It made Shoes.com the flagship domain for...
J.C. Penney’s discussions with potential acquirers of the company have hit a “stalemate” and the bankrupt retailer’s top lenders are considering making a “credit bid” to own the retailer as a stand-alone company. If the deal goes through, the lenders would own J.C. Penney, likely as...
Toms, the company that designs and markets shoes as well as eyewear, coffee, apparel, and handbags, based in Los Angeles, CA, generated a total of $2 million in support of COVID-19 front line workers. This follows its move in March to direct one-third of its...
In his first shareholder letter since taking over as Nike’s CEO and president in January, John Donahoe wrote that COVID-19 “offered a stress-test” of its Consumer Direct Offense strategy while stating “Nike’s underlying strengths and resilience have become even more evident in this crisis.” Donahoe wrote,...
Timberland announced a goal for its products to have a net positive impact on nature by 2030. The goal includes having all products designed for circularity and made from natural materials sourced from regenerative agriculture. “The environment today is in a degraded state. As a footwear...