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...
Tim Boyle, president and CEO of Columbia Sportswear, will be reducing his annual salary to $10,000. The company plans to continue to offer regular pay its employees, including those at stores, during the COVID-19 pandemic. Boyle’s total compensation was $3.3 million in 2019. A spokesman told...
Hoka One One, a division of Deckers Brands, signed a multi-year sponsorship deal with Jan Frodeno, Olympic champion and three-time winner of the Ironman World Championship in Kona. Known as ‘Frodo’, the globally-renowned German sealed his third Ironman World Championship title last year. “I want to be...
Saucony marks the 15th anniversary of the brand’s Saucony Run for Good Foundation with the announcement of a new round of grant winners. Established in 2006, the Foundation has awarded more than $1.5 million dollars in grants to 180 schools and community organizations all dedicated...