All Corporations articles – Page 65
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News briefs
Time2Padel plans to expand in Italy and Sweden
To meet rising international demand and orders for pádel products, CMDsport reports, Time2Padel hopes to expand its European presence this year in two key markets by opening four franchises in Sweden and 15 in Italy. The chain already has two Italian stores, in Milan and Rome. The first new franchise ...
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News briefsUA scales back plans for its new global headquarters
Under Armour plans to have a new headquarters in place by 2025 on the 50-acre waterfront property it acquired in Port Covington, South Baltimore, from Kevin Plank in 2016. Its design takes its cues from the pandemic’s lockdowns, mixing office with home working, and scales back initial plans for nearly ...
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Article
The Hickies brand of no-tie shoelaces is for sale
Acting in behalf of Midcap Funding XVII Trust, which is Hickies’ main lender, Hilco Streambank is seeking bids for the acquisition of the American brand of no-tie shoelaces and related assets on its website by May 20 at the latest, setting a date of May 25 for their auction. The ...
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Article
Moody’s upgrades Amer Sports’ outlook
Providing some interesting figures on Amer Sports’ latest performance and some interesting projections, Moody’s has changed its outlook for the company from negative to stable. However, it maintained an overall B3 corporate rating on Amer’s debt, feeling that its credit metrics will remain weak over the next 12 to 18 ...
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News briefs
Therabody acquires PowerDot, a smart muscle-stimulating device
Therabody has announced the acquisition of PowerDot, a “smart muscle stimulator” that is said to temporarily relieve muscle pain. The device uses electrical stimulation to cause muscles to contract and release. The increased blood flow helps improve muscular strength and endurance, while temporarily relieving and managing pain. PowerDot’s proprietary Smart ...
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News briefs
Completing its acquisition of Plano Synergy, Pure Fishing divests its hunting brands
Pure Fishing has announced that it has completed the acquisition of Plano Synergy Holdings. As part of the closing, Pure Fishing has also announced the sale of Plano Synergy’s archery and hunting accessories brands to GSM Outdoors. The move is consistent with Pure Fishing’s strategy that places priority on fishing, ...
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News briefs
S&P upgrades its outlook for Foot Locker
The st onger-than-expected performance of Foot Locker in the past financial year has led Standard & Poor’s to upgrade its outlook for the company from negative to stable, while affirming its BB+ issuer credit rating. Foot Locker’s leverage reached a range in the mid-1x; which was much better than the ...
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News briefs
NOBULL gets PE investment to diversify from training
NOBULL, which defines itself as “a brand for people who train hard and don’t believe in excuses,” has received an unspecified investment from Exeter Capital, a new private equity firm in Boston, to help it to grow and expand its product line. The company, which recently took over the sponsorship ...
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News briefs
Macron gets involved in digital fitness
Macron has announced a three-year apparel partnership with Fitbook, a virtual community for fitness trainers to promote and manage activities, information and events related to the world of fitness. While Macron specializes in the development and sale of team sports jerseys, it is based in the Italian city of Bologna ...
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News briefs
SmartFlex paddings change ownership
G-Form has been acquired by a Greenwich, Connecticut-based investment company, Eldridge Industries. Details of the purchase price were not disclosed. G-Form is known for its patented SmartFlex impact protection technology used for a variety of team sports including baseball, soccer, field hockey and basketball as well as action sports such ...
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News briefs
Li & Fung launches digital incubator as a separate company
Li & Fung, the sourcing giant headquartered in Hong Kong, is launching LFX, a new and separate company designed to capitalize on new digital opportunities that can transform the retail industry and enable sustainability along the supply chain. Described as “an incubation, investment and operating platform,” LFX will launch and ...
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News briefs
Asos issues a £500 million convertible bond
After its publication of excellent results for the first half ended Feb. 28, Asos announted an offer to sell £500 million (€577.5m-$686.6m) in senior unsecured guaranteed convertible bonds due in 2026. The bonds are being offered by the company’s wholly-owned subsidiary Cornwall. The proceeds will be used by the U.K.-based ...
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ArticleReportedly planning to go public, Signa Sports United boosts management
Signa Sports United (SSU), the online sporting goods retailing group controlled by Signa Retail, is in talks to go public through a merger with a blank-check SPAC company, Reuters reported. Quoting “two people familiar with the matter,” the news agency says the company is in preliminary talks with Yucaipa Acquisition ...
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News briefs
Sports Direct’s parent company warns Covid-19 could cost more than £200 million
Frasers Group, the parent company of Sports Direct, has warned that it could take a hit of more than £200 million (€230m-$275m) due to Covid-related restrictions. This would be double the previous estimate it had made in February, when the company said it expected that the pandemic crisis would determine ...
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ArticleStockX’s value surges to $3.8 billion
StockX, the American online market for sneakers, raised $195 million in a secondary tender offering by some of its employees’ shares and an additional $60 million in Series E-1 primary shares at a $3.8 billion valuation. Altimeter Capital led the all-cash offer, with the participation of existing investors and of ...
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News briefs
S&P downgrades Callaway for its merger with Topgolf
The pro forma debt/Ebitda ratio of about 8 times given for the company formed by the merger of Callaway Golf with Topgolf has led Standard & Poor’s to downgrade the credit rating of Callaway to B from B+, and the agency indicated that it could lower it further. As Callaway ...
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News briefs
Former Nike executives help found minority-owned sports marketing agency
Three former Nike executives – David Creech, president of brand creative for global men’s; Nicole Graham, vice president of global brand marketing; and Josh Moore, vice president and global head of design for digital, stores and content – have joined the sports agent Rich Paul to found Adopt, a minority-owned ...
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Article
Unmade expands collaboration with New Balance to teamwear
A London-based software company, Unmade, is expanding its collaboration with New Balance Team Sports from footwear to team clothing in the U.S. A spokeswoman for New Balance says there are no plans to implement the project in Europe, but we find it interesting enough to report about it. The project ...
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News briefsVF’s new fulfillment center for the U.K. begins operations
Working through a local subsidiary, VF Northern Europe, VF Corporation has begun operations at its new fulfillment center in Bardon, Leicestershire, which will employ about 250 people at peak times. The new 55,800-square-meter center will have “state-of-the-art automation capabilities putting it at the forefront of the footwear and apparel industry,” ...
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News briefsPuma starts shipping online orders from its new German DC
After more than two years of construction, Puma’s new distribution center in Geiselwind, Germany, started to operate on Apr. 6. It will help the company to better fulfill its online orders, which have remained until now relatively low as compared to those of Adidas or Nike. With 480 shuttles navigating ...
