J.C. Penney is reportedly close to accepting a $1.75 billion bid from Sycamore Partners to acquire the company in an auction in bankruptcy court. Sycamore intends to merge Penney with Belks, which operates 300 department stores mostly in the South. While the deal is still subject...
Nike Inc. said it is canceling plans to open a plant in Goodyear, AZ, just outside of Phoenix, AZ to make soles for its Nike Air shoes as part of its Nike Air Manufacturing Innovation (Air MI) program. “We are experiencing unprecedented times and due to...
Canada Goose today announced the appointment of Adam Meek to the new role of GM Footwear & Accessories. Meek will lead the development and execution of the global footwear strategy as well as oversee the brand’s accessories collection. “Now, with all of the pillars in place...
Seventy-two percent of companies now anticipate that sales will not return to pre-COVID-19 numbers until 2021, and 53 percent report not until Q2 of 2021, according to the SFIA’s 3rd Edition of its monthly COVID-19 Industry Impact Report. The expectation for sales to bounce back has...
Under Armour Inc. said it will commit to ensuring 12 percent of its employees at the director level or higher are Black by 2023 as part of a series of initiatives “to support a more diverse and inclusive future.” The goal is in addition to an...
Theft, fraud and losses from other retail “shrink” totaled $61.7 billion in 2019, up from $50.6 billion the year prior as industry security executives reported increases in the number of shoplifting, organized retail crime and employee theft incidents, according to the annual National Retail Security...
Afterpay, the buy-now-pay-later platform, announced that its customers can now use Apple Pay to make purchases through Afterpay in physical retail stores and online. Beginning in July 2020, select U.S. retailers will begin offering Afterpay. Customers can initiate a purchase by tapping the “card” icon in...
Nike Inc. joined eight other major corporations including Microsoft, Starbucks and Unilever, to form a new consortium with a goal of accelerating the transition to a net-zero global economy. Founding members also include A.P. Moller–Maersk, Danone, Mercedes-Benz AG, Natura &Co, and Wipro, as well as the...
The Outdoor Industry Association (OIA), in partnership with Utah State University (USU) and Western Colorado University (WCU), has launched select courses from its Outdoor Industry Business Certificate (OIBC) program. The OIBC offers a suite of continuing education certificates tailored to outdoor industry professionals and those...
VF Corp. plans to open its first multi-brand store this fall in Milan, Italy. The store, inside a historic building at 11 Orefici Street, will feature The North Face, Timberland and Napapijri with other VF brands periodically showcasing their collections. Surrounded by international offices and high-street...