Sporting Goods Industry News for December 05, 2022
After nearly six years at VF’s helm and more than two decades at the Vans, North Face and Timberland parent, Rendle is retiring immediately “by mutual agreement with the board,” and will be succeeded as president and CEO on an interim basis by lead independent director, Benno Dorer.
Adidas still expects a €400 million boost to revenues from the World Cup in Qatar even though the German national team failed to make it through to the knockout stage, Reuters reported.
The Eager Beavertons have severed all ties with the Brooklyn Nets point guard, The Athletic first reported, one month after suspending their relationship due to his controversial social media posts endorsing a film and book which contains anti-Semitic tropes.
The Brazilian shoemaker is selling BRL800,000,000 million (US$154.7 mm) in new debt, consisting of two series of non-convertible bonds that will mature on Dec. 12, 2027, and Dec. 12, 2029.