United States
Iconix Brand Group is exploring sale
The Board of the Iconix Brand Group has decided to broaden its exploration of strategic alternatives available to the company to enhance shareholder value, including a potential sale
Coronavirus driven lockdowns return to the US
Some US states such as California and Oregon are bringing back orders to lockdown as new cases of people infected with coronavirus continue to climb. Consumers in badly hit areas might not feel comfortable to visit stores
JCPenney to close 152 stores and cut 1 000 jobs
The US-based retailer is becoming a smaller operator as it goes through a bankruptcy restructuring. JCPenney plans to lay off about 1 000 employees as it shuts down more than 150 stores
RTW Retailwinds voluntarily files Chapter 11 Bankruptcy
As a result, the retailer expects to close a significant portion of its brick-and-mortar stores. Company expects to fully repay approximately 12.7 million US dollars in remaining loan outstanding
AAFA claims lack of trade credit insurance could hinder economy restart
A new report by economists Dr. Robert Litan and Dr. Yong Xu highlights the need for a government-sponsored backstop to support trade credit insurance (TCI) to ensure a safe recovery from the economic fallout caused by the COVID-19 crisis
AAFA calls for national guidance on face masks
In a letter sent to President Donald J. Trump, the American Apparel & Footwear Association (AAFA) requested that the administration institute federal face mask guidelines to assist retail stores as the country continues efforts to reopen
Informa cancels Las Vegas shows
Trade show organizer Informa Markets Fashion announced that it will cancel its Magic trade show events planned for Las Vegas in September, mentioning uncertainties related to the pandemic
Brazil: footwear exports increased in June compared to May
After four consecutive months of decline, footwear exports from Brazil increased in June compared to the previous month, in both volume and value. When compared to similar period last year, the decline rate in pairs and revenue was above 40%
Brooks Brothers files for bankruptcy
The two-century-old company filed for bankruptcy after taking the hit of the COVID-19 pandemic’s impact on clothing sales. Pandemic kept customers at home reducing the demand for suits and formal attire
Sperry names new VP Design & Development
Sean McDowell was named the new Vice President of Design and Product Development of Sperry, a division of Wolverine. In this role, he will focus on driving product innovation for the brand
VF creates new position of President Greater China
With a specific focus on advancing its stated strategy of growing its business in China, VF has created the new position of President, Greater China. VF will announce the leader appointed to this position later this summer
Deckers Brands appoints Victor Luis to its Board of Directors
US-based footwear, apparel and accessories group has appointed Victor Luis, former CEO of Tapestry, to its Board of Directors. Coinciding with this appointment, Deckers also announced that James Quinn has resigned from the Board
US: spending gets more personal
The importance of enhancing a homebound lifestyle remains, but consumers are increasingly showing their interest in products with a more personal focus. The conclusion is from the NPD Group
33% of supply chain leaders moved business out of China or plan to do it by 2023
A Gartner survey with 260 global supply chain leaders held in February and March 2020 found that 33% had moved sourcing and manufacturing activities out of China or are planning to do so in the next two to three years
Nike's revenue falls by 38% in the last quarter
Revenue for Nike decreased by 38% to 6.3 billion US dollars, down by 36% on a currency-neutral basis, primarily due to owned and partner physical store closures across North America, EMEA and APLA due to COVID-19-
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