Top National Stories and the Latest Headlines
from SGB Updates
across the Active Lifestyle Market during the week of April 20, 2020.

Photo courtesy TRX. Read SGB Executive’s exclusive interview with
TRX Founder and former Navy SEAL Special Ops Commander, Randy Hetrick, here.

»J.C. Penney In Negotiations Over Bankruptcy Financing | April 24
J.C. Penney Company Inc. is negotiating bankruptcy financing with banks for a debtor-in-possession loan to secure liquidity for operations during bankruptcy, according to a report in the Wall Street Journal. Read more

»Walmart Appoints New Marketing Chief | April 24
Walmart has hired former Target senior vice president of marketing William White as its chief marketing officer, according to an internal company memo. Read more

»New Balance Wins Copyright Lawsuit In China | April 24
New Balance won a copyright lawsuit against a Chinese firm in a lengthy battle. The Shanghai Pudong People’s Court ruled that New Barlun was guilty of unfairly using an “N” symbol that closely resembles New Balance’s signature logo and could mislead consumers. Read more

»Four NHL Cities Could Host Summer Restart | April 23
In an interview with Sportsnet, NHL Commissioner Gary Bettman confirmed that a four-arena plan is being discussed as part of a return of the league. Read more

»Patagonia Selling Online Again | April 23
Patagonia, which closed both its stores and e-commerce operations on March 13 in an early response to the spread of COVID-19, has resumed online selling. Read more

»RRCA Launches Survey To Understand Attitudes On Return To Group/Event Running | April 23
The Road Runners Club of America (RRCA) has launched a nationwide survey to learn how the COVID-19 pandemic has affected participation in running events as well as locally organized group runs and training programs. Read more

»RunSignup Releases Looking Forward Guidelines For Races | April 23
RunSignup has released a working draft of Looking Forward Guidelines for Races. This living document was created with input from dozens of race directors, timers, governing bodies, and other industry partners. It is intended to provide ideas for a path forward for races when coronavirus restrictions are lifted. Read more

»Skechers’ Q1 Profits Slump On Pandemic’s Spread | April 23
Skechers USA Inc. reported sales slid 2.7 percent in the first quarter as COVID-19 began impacting its China business in February and spread to much of the rest of its markets in March. Earnings on an adjusted basis were down 45.1 percent. On the positive side, Skechers noted that its online business is expanding. Read more

»Target’s Sees Q1 Earnings Impacted By COVID-Related Costs | April 23
Target Corp. said quarter-to-date, total company comparable sales have grown more than 7 percent, but warned that a number of factors will reduce first-quarter profitability. These include investments in pay and benefits to support team members during the COVID-19 crisis and a shift in category mix towards lower-margin categories. Read more

»Bass Pro’s Re-Opens Springfield Flagship With Restrictions | April 23
Bass Pro reopened its flagship store in Springfield, MO with a number of restrictions, including limiting in-store transactions to shooting and shooting accessories. Read more

»Houghton Signs New Apparel Deal With Adidas | April 23
Houghton College, in upstate New York, has entered into an agreement with Adidas and ADPRO Sports of Buffalo that makes Adidas the official supplier of apparel and uniforms for Highlander athletics teams. Read more

»Foot Locker Furloughs Majority Of North American Store Employees | April 23
Foot Locker Inc. said in a regulatory filing that in response to temporary store closures and other business disruptions resulting from COVID-19 pandemic, it will furlough the majority of the company’s store employees in the U.S. and Canada. Read more

»Crocs’ Americas’ Segment Sees Double-Digit Q1 Revenue Growth | April 23
Crocs Inc.’s first-quarter earnings slumped on a 5 percent revenue decline as it faced pressure from store closures in March due to COVID-19. Highlights in the quarter, however, included Americas’ revenues increasing 14.4 percent and e-commerce revenues rising 15.8 percent. A steeper decline in sales was forecast for the second quarter. Read more

»Gap Warns Of Liquidity Pressures | April 23
Gap Inc said its existing cash levels and credit facilities may not be sufficient to run its business and it would have to take additional measures such as job cuts and new debt financing within the next 12 months to boost its liquidity. Read more

»ProXR Signs MLB Bat Companies To License Bat Knob Innovation | April 23
ProXR LLC has signed five MLB-certified bat companies to license its patented ProXR angled bat knob technology. Read more

»Retailers Urge Federal Pandemic Insurance Program Similar To 9/11 Terrorism Coverage | April 22
The National Retail Federation today called on Congress to pass legislation establishing a federal program that would help businesses obtain insurance coverage for pandemics modeled on a program for terrorism insurance established following 9/11. Read more

»USA Track And Field Faces Lay Offs | April 22
USA Track and Field (USATF) has laid off seven people from its 65-person staff and CEO Max Siegel is taking a 20 percent pay cut to offset lost revenue due to the coronavirus pandemic, according to the Associated Press. Read more

»Moody’s Assigns A3 Rating To VF’s Proposed Debt Offering, Outlook Revised To Negative | April 22
Moody’s Investors Service assigned an A3 rating to VF Corp’s proposed senior unsecured note offering. All other ratings for the company were affirmed, including the A3 senior unsecured rating and Prime-2 commercial paper rating. The rating outlook was changed to negative from stable. Read more

»Modell’s Seeks Another Delay In Bankruptcy Amid Continued Shutdowns | April 22
Modell’s Sporting Goods is seeking a further delay in its Chapter 11 bankruptcy proceedings as COVID-19 continues to prevent the retailer from holding liquidation sales at physical stores, according to Law360. Read more

»Protempo U.S. Acquires Outdoor Tech | April 22
Protempo U.S. Limited, a global consumer electronics distributor, announced the completed acquisition of Outdoor Tech, a consumer electronic and helmet audio company. Financial terms of the deal weren’t disclosed. Read more

»Kawhi Leonard Loses Copyright Suit Against Nike | April 22
A federal judge ruled in favor of Nike in a dispute over NBA star’s Kawhi Leonard signature “Klaw” logo. Read more

»Tasc Taps Blake Lopez As VP Marketing | April 22
Tasc, a sustainable activewear brand, has tapped Blake Lopez as its new vice president of marketing. Read more

»Assembled Brands Announces $3M Financing Of Footwear Brand Samuel Hubbard | April 22
Assembled Brands announced the closing of a $3 million credit facility for the Samuel Hubbard Shoe Co. With this partnership, the California-based footwear brand will continue to scale its business and build its audience. Read more

»National Parks To Reopen, But Details Sketchy | April 22
At an Earth Day event at the White House on Wednesday, President Donald Trump said the country will reopen the national parks but didn’t give any details about guidelines that will be enacted around concerns over the spread of coronavirus. Read more

»Canada Goose Commits To Carbon Neutrality By 2025 | April 22
Canada Goose launched its Sustainable Impact Strategy outlined in the company’s first-ever Sustainability Report. The accelerated strategy includes tangible commitments supporting four key UN Sustainable Development Goals (SDGs) to ensure a sustainable future. Read more

»Under Armour Signs LSU Wide Receiver Justin Jefferson | April 22
Under Armour signed an endorsement deal with LSU wide receiver Justin Jefferson, who is expected to be one of the first receivers taken in Thursday’s NFL Draft. Read more

»Wolverine Worldwide’s Q1 Revenues Slump 16 Percent | April 22
Wolverine Worldwide reported a steep drop in earnings in the first quarter as sales slumped 16 percent while reiterating the company’s strength to navigate COVID-19. Blake Krueger, CEO said in a statement, “We believe the company is strong, well-positioned to navigate the current challenges and will emerge even stronger.” Read more

»Patrick Mahomes Leads NFLPA’s Top-Selling Jerseys List | April 22
Patrick Mahomes, the reigning Super Bowl MVP, dethroned Tom Brady in leading NFL players in merchandise sales this past season, according to the NFL Players Association’s list of top 50 selling players. Brady came in second. Read more

»Under Armour Lays Off More Than 300 At Tennessee Distribution Center | April 21
Under Armour permanently laid off 323 employees at a distribution center in Mount Juliet, TN, according to a notice filed with the Tennessee Department of Labor and Workforce Development. Read more

»Report: Lord & Taylor Exploring Bankruptcy | April 21
Lord & Taylor is considering filing for bankruptcy after being forced to close all of its 38 U.S. department stores amid the coronavirus crisis, according to a report from Reuters. Read more

»Unifi Appoints CEO | April 21
Unifi Inc., the producer of recycled and synthetic yarns, announced that its Board of Directors has appointed Eddie Ingle as chief executive officer and a member of the Board of Directors effective July 1, 2020. Read more

»HydraPak Announces Colorado Facility Expansion, New Hires And More | April 21
HydraPak announced a number of business developments, including recent sales management hires and its latest product initiatives and custom capabilities for Polar Bottle. Read more

»VF Sees Fiscal 2020 Just Missing Expectations | April 21
VF Corp. provided a revenue outlook for its year ended March 31 that was slightly below Wall Street expectations in conjunction with a debt offering. Earnings guidance likewise was slightly below average estimates. Read more

»Peloton To Resume Live Classes | April 21
Peloton Interactive Inc. said it plans to resume live classes on the Peloton app, bike, and treadmill starting Wednesday, about a week earlier than planned. Read more

»NSGA Sports Participation Study Shows Growth In 2019 | April 21
Participation increased in 7 of 10 segments in 2019 according to the 2020 National Sporting Goods Association’s (NSGA) Sports Participation in the U.S. Report* released today. One segment remained relatively flat and two segments decreased compared to the prior-year the survey noted. Read more

»Mountain Hardwear Supports Retail Partners With Commission Program | April 21
Mountain Hardwear is launching a program that enables retailers to receive a 40 percent commission on any transactions they can generate leads for on The amount is similar to what a traditional sale may earn for the retailer. Read more

»RYU Announces New CEO And Chairman | April 21
RYU Apparel Inc. appointed Cesare Fazari as chairman of the board and CEO. As part of this reorganization, Marcello Leone has resigned as executive chairman and director and Martino Ciambrelli has also resigned as director of the company. Read more

»Equinox’s Debt Rating Lowered | April 21
Standard & Poors Corp. reduced its debt rating on Equinox Holdings Inc. due to operating restrictions imposed by the coronavirus. Read more

»Pure Fishing’s Debt Ratings Downgraded| April 21
Moody’s Investors Service downgraded the debt rating as SP PF Buyer LLC, which does business as Pure Fishing. The rating agency said the downgrade reflects Pure Fishing’s “unsustainable capital structure” and the fallout from the coronavirus outbreak. Read more

»Sporting Goods Leaders Rank High For Transparency | April 21
Adidas, Nike, VF Corp, Patagonia and Puma ranked among the world’s most transparent major fashion brands, according to the 2020 Fashion Transparency Index from the campaign group Fashion Revolution. Read more

»Dick’s Donates Supplies To Support COVID-19 Pandemic Response | April 21
Dick’s Sporting Goods has joined the growing list of organizations stepping up to help health care providers like Allegheny Health Network (AHN) respond to the novel coronavirus (COVID-19) pandemic in western Pennsylvania. Dick’s donated cots and blankets to AHN, as well as fanny packs for caregivers to carry essential personal protective equipment (PPE) such as masks, gloves, face shields and hand sanitizer. Read more

»University Study Suggests Regular Exercise Reduces Risk For COVID-19 | April 20
Regular exercise can possibly prevent coronavirus patients from developing severe complications like acute respiratory distress syndrome (ARDS), according to a new study. Read more

»New Era Undergoes Furloughs | April 20
New Era Cap Company announced it will temporarily furlough most of its U.S. workers, according to The Buffalo News. Read more

»Bass Pro’s Johnny Morris Donates 1 Million Face Masks To Healthcare Workers | April 20
Convoy of Hope, a not-for-profit supporting disaster relief, announced Bass Pro Shops Founder Johnny Morris is personally donating one million FDA-approved ASTM Level 1 Procedure Face Masks to healthcare workers and first responders working on the front lines of the COVID-19 crisis across the U.S. Read more

»Adidas Signs Tua Tagovailoa | April 20
Adidas signed an endorsement deal with former Alabama quarterback Tua Tagovailoa, who is expected to be one of the first players selected in the 2020 NFL Draft. Read more

»Sportfishing Industry Trade Show ICAST Canceled | April 20
The sportfishing industry trade show ICAST, scheduled for July 14-17 in Orlando, FL, has been canceled due to the spread of the coronavirus, the organization announced. Read more

»Nordstrom Unveils Sustainability Initiatives, Including Phasing Out Plastic Bags | April 20
In recognition of Earth Day, Nordstrom has announced five new goals to demonstrate its continued commitment to combating climate change and increasing environmental stewardship. Read more

»Wolverine Worldwide Announces Key Leadership Changes | April 20
Wolverine World Wide Inc. announced the appointment of Chris Hufnagel, Joelle Grunberg and Tom Kennedy to the company’s executive leadership team. Read more

»Compass Diversified Holdings Completes Acquisition Of Marucci Sports | April 20
Compass Diversified Holdings (CODI) announced the completion of the company’s previously announced acquisition of Baton Rouge, LA-based Marucci Sports LLC for $200 million. Read more

»Running Industry Association Defers Dues For Current, New Retail Members | April 20
The Running Industry Association (RIA) has announced it will defer member dues for all new retailers and offer current members an option to defer until January 2021 as well. Read more

»Retail Trade Groups Applaud Tariff Relief | April 20
The National Retail Federation, Retail Industry Leaders Association and U.S. Chamber of Commerce all applauded the Trump administration’s move to postpone some tariff collections for 90 days amid the COVID-19 pandemic. Read more

»NFL Signs Merchandising Deal With Gaming Company | April 20
FaZe Clan, the gaming organization, partnered with the NFL on limited-edition “Draft-A-Thon” collection “Draft-A-Thon.” The alliance marks the NFL’s first-ever apparel collaboration with a gaming organization. Read more

»Shoe Carnival Further Enhances Financial Liquidity | April 20
Shoe Carnival Inc. announced it has exercised the accordion feature of its credit agreement with Wells Fargo Bank, N.A. and Fifth Third Bank, National Association to further enhance its financial liquidity position. Read more

»Merrell Names Alex Brown Vice President Of U.S. Sales | April 20
Merrell announced the appointment of Alex Brown to vice president of U.S. sales reporting directly to Merrell’s global brand president, Chris Hufnagel. Read more

»Fitness International’s Debt Rating Downgraded | April 20
Standard & Poors lowered the issue credit rating of Fitness International LLC, the parent of LA Fitness, to ‘CCC+’ from ‘B”B-‘ with a developing outlook. Read more

»Fanatics Partners With NBA To Make Team-Branded Facemasks | April 20
Fanatics has partnered with the NBA to make cloth face coverings featuring NBA team and league logos to benefit Feeding America in the U.S. and Second Harvest in Canada. Read more

»Report: 24 Hour Fitness Weighs Bankruptcy | April 20
24 Hour Fitness has retained Lazard and Weil, Gotshal & Manges to explore financial options including a bankruptcy, according to CNBC. Read more

»Life Time’s Debt Rating Downgraded | April 20
Life Time Inc.’s debt rating was downgraded by Standard & Poors due to pandemic-related closures. Read more

»VF Corp.’s Debt Rating Outlook Revised To Negative | April 20
Standard & Poors Corp. revised its debt rating outlook on VF Corp. to negative. The rating agency said it expects VF’s operating results to be “significantly weaker” than it expected due to the economic fallout from the spread of the coronavirus. Read more

»Foot Locker’s Debt Rating Outlook Revised To Negative | April 20
Standard & Poors Corp. revised its outlook to negative from stable and affirmed all its ratings on Foot Locker, including the ‘BB+’ issuer credit rating. The rating agency said the retailer will face significant top-line headwinds this year, as restrictive government mandates to contain the coronavirus pandemic lead to temporary store closures, deflated consumer confidence, and a swift and severe drop in discretionary consumer spending. Read more

»Nike Signs 2020 WNBA First Draft Pick | April 20
Nike has signed Sabrina Ionescu, who was selected first overall in the 2020 WNBA draft and has been the most hyped women’s basketball prospect in recent years. Read more

»Neiman Marcus Could File For Bankruptcy This Week | April 20
Neiman Marcus Group is preparing to file for bankruptcy as soon as this week, Reuters reported Sunday. Read more