FINKELSTEIN’S NEW ROLE: William Finkelstein, most recently chief operating officer of the Calvin Klein Jeanswear and Underwear divisions of Warnaco Group, and before that, senior vice president and chief financial officer of Warnaco, has joined American Enterprises Inc., maker of children’s sleepwear, as chief operating officer, a new post. In addition to having operating responsibilities, he will be responsible for business development and acquisitions. He reports to Victor Azrak, president of American Enterprises.
This story first appeared in the August 6, 2003 issue of WWD. Subscribe Today.
SANDPOINT SPLIT: Coldwater Creek Inc. declared a 50 percent stock dividend on its common stock, having the effect of a three-for-two stock split, the Sandpoint, Idaho-based multi-channel retailer said Monday. Stockholders of record on Aug. 18 will be entitled to one additional share of common stock for every two shares of the company’s common stock held on that date. The payment date for the stock dividend will be Sept. 8, at which time shares will be issued to stockholders by the transfer agent, Mellon Investor Services. Coldwater had approximately 16.1 million shares of its common stock outstanding as of Aug. 4, 2003. As a result of the stock dividend, 24.1 million shares of common stock will be outstanding.
ADIDAS SIGNS GARNETT: Minnesota Timberwolves star Kevin Garnett has signed a lifetime endorsement deal with Adidas. The move is part of the Adidas plan to gain ground against its arch rival, Nike, in basketball footwear sales. Terms of the deal were not disclosed, but Garnett has shown interest in taking an executive role with Adidas after his NBA career ends, according to his agent, Andy Miller. Garnett is in the last year of his six-year, $126 million contract with the Timberwolves. The 27-year-old athlete, who was last season’s MVP runner-up, has endorsed Nike and sports brand And 1 in the past. Nike’s NBA poster boy, Kobe Bryant, a former Adidas-sponsored athlete, is facing sexual assault charges.