<span style="color: #a4a4ab;">Top National Stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market during the week of April 20, 2020.
Photo courtesy Brooklyn Running Co. Read SGB Executive’s exclusive interview here with the Owners of Big Peach Running Co., Brooklyn Running Co., Charm City Run, and Playmakers about the adjustments they’ve made at retail to survive COVID-19 and get ready for reopening.
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›Modell’s Secures Suspension Of Bankruptcy Until May 31
A New Jersey bankruptcy judge extended the suspension of the bankruptcy case of Modell’s Sporting Goods under May 31 as COVID-19 continues to prevent the retailer from holding liquidation sales at physical stores. Read more
›Little League Cancels 2020 World Series And Region Tournaments
Due to the ongoing impact of the COVID-19 pandemic, Little League International has decided to cancel its World Series and Region Tournaments for the first time in the organization’s history. Read more
›NRA Cancels National Rifle & Pistol Championships Due To COVID-19
The National Rifle Association (NRA) has decided to cancel the 2020 NRA Precision Pistol Championships, July 1-5; NRA High Power Championships, August 9-25; and the 2020 NRA Smallbore Championships scheduled for July 23-August 4 due to the coronavirus. Read more
›Unifi Posts Loss On Impairment Charge Tied To Sale
Unifi Inc. reported that it completed the sale of its 34 percent interest in Parkdale America, LLC (PAL) to the existing majority partner, Parkdale, Inc., in an all-cash transaction for $60.0 million. The fibers manufacturer also posted a loss in the third quarter ended March 2 after a charge related to the sale. Read more
›Iconix Inks Deal To Sell Umbro China
Iconix Brand Group Inc. reported in a regulatory filing that it entered an agreement to sell Umbro China Limited to HK Qiaodan Investment Limited for $62.5 million. Read more
›Tecnica Group Canada Announces Rollerblade National Sales Manager
Tecnica Group Canada announced the appointment of Martin Lafleur to the position of national sales manager for the Rollerblade brand, a logical addition following his recent nomination as national sales manager for Nordica. Read more
›Dillard’s To Reopen 55 Stores
Dillard’s Inc. announced plans to re-open 55 stores in select locations following their temporary closure due to the COVID-19 pandemic. Read more
›Amazon.com’s Q1 Sales Jump 26 Percent
Amazon.com Inc. reported net sales increased 26 percent with North American sales surging 29 percent. Read more
›Dillard’s Amends Revolving Credit Facility
Dillard’s Inc. announced that it has amended its $800 million senior unsecured revolving credit facility consistent with the company’s liquidity needs. Read more
›Columbia Sportswear Posts Q1 Operating Loss, Sales Slide 13 Percent
Columbia Sportswear Company reported an operating loss of $2 million in the first quarter as sales fell 13 percent. Chairman, President and CEO Tim Boyle said, “It is important to note that we entered into this crisis in a position of strength with a fortress balance sheet and top quartile operating margin performance in our industry in 2019. As consumers look to make every dollar they spend count within this challenging economic environment, we believe the Columbia brand’s differentiated innovation and exceptional value are as important as ever.” Read more
›CODI’s Q1 Revenue Slips Amid COVID-19 Pressure
Compass Diversified Holdings reported net income for the first quarter of $4.9 million on revenue of $333.4 million, which was a 1.6 percent decline from the same quarter a year ago and missed expectations by $3.6 million. Read more
›Golf Rounds Played Slide-In March
Golf rounds played for March 2020 fell 8.5 percent nationally compared to a year ago, according to Golf Datatech. Double-digit increases in the New England, East North Central and Mid Atlantic regions were offset by a steep decline in the Pacific region and smaller declines in the South Central and South Atlantic. Read more
›Delta Apparel Ekes Out EPS Beat In Q1
Delta Apparel Inc. reported earnings per share for its fiscal second quarter ended March 28 of 19 cents, beating analysts’ estimates by 1 cent while revenue of $96.7 million was in line with Wall Street’s targets—two notable achievements as the coronavirus impacted business in the latter half of the period. Read more
›Jim Gerson Returns As President Of Speedo North America
Pentland Group, which recently completed its acquisition of the Speedo North America business from PVH Corp., announced that Jim Gerson will be returning to the business as president of Speedo North America. Read more
›Macy’s Plans To Reopen 68 Stores On Monday
Macy’s Inc plans to reopen 68 stores on Monday in states that reduced coronavirus lockdown restrictions, according to the Wall Street Journal. Read more
›Stio Hires Senior Sourcing And Production Manager
Stio, the Jackson Hole-based outdoor apparel brand, hired Gena Calegari as its senior sourcing and production manager. Calegari was most recently the global production of maternity and plus at Old Navy. Read more
›HanesBrands’ Q1 Sales Drop 17 Percent
HanesBrands Inc. the parent of Hanes and Champion, reported earnings tumbled 77.3 percent in the first quarter as sales declined 17.0 percent. The company estimated that COVID-19 reduced GAAP and adjusted results by $181 million in net sales, $86 million in operating profit, and 20 cents per share in EPS. Read more
›How COVID-19 Is Impacting The Outdoor Recreation Industry
The outdoor recreation industry is facing dramatically decreased sales and revenue, difficulties with production and distribution, and large numbers of furloughs and layoffs due to the coronavirus, according to member survey from the Outdoor Recreation Roundtable (ORR). Read more
›Winchester’s Q1 Revenues Climb 20 Percent
Olin Corp. reported sales in its Winchester firearms segment were $188.0 million for the first quarter compared to $157.2 million in the first quarter of 2019, representing a gain of 19.6 percent. The increase in sales was primarily due to higher commercial and military sales. Read more
›Gildan Activewear Posts Q1 Loss After Charges
Gildan Activewear reported a net loss of $99.3 million, or 50 cents per share, in the first quarter after after-tax charges of approximately $110 million, or 56 cents per share. Excluding charges, adjusted earnings were down 65.9 percent as sales dropped 26.4 percent. Read more
›NCAA Outlines Plan To Let Athletes Make Endorsement Deals
The NCAA’s Board of Governors announced that it had approved recommendations under which student-athletes could receive income for third-party endorsements, as well as social media opportunities, other business ventures and personal appearances that fall within certain guidelines. Read more
›Wolverine World Wide’s Debt Ratings Lowered
S&P Global Ratings lowered the debt ratings of Wolverine World Wide Inc. because it expects the footwear company’s revenue and profitability will be significantly impaired by lower consumer demand in the U.S. and retail store closures related to measures taken to contain the spread of the COVID-19 pandemic. Read more
›Beachbody Tops Two Million Subscribers Amid Surge In Fitness Streaming
As the coronavirus has closed gyms and kept people working out at home, Beachbody announced that its Beachbody On Demand streaming platform has surpassed two million subscribers. Read more
›NFL And Amazon Renew, Expand Streaming Partnership
The National Football League (NFL) and Amazon announced they have reached a multi-year agreement to renew their exclusive partnership to deliver a live digital stream of Thursday Night Football. Read more
›Escalade Repays $5.6 Million PPP Loan In Full
Escalade Inc., a maker of a wide range of sporting goods, announced that it repaid its outstanding loan of $5,627,500 million received from the Paycheck Protection Program. Read more
›Soccer Parents See Soccer Returning This Summer
A survey of youth soccer parents from Soccer.com, the nation’s leading soccer-specialty retailer, finds 81 percent expect youth soccer to resume in their area by August 2020. Of those, 61 percent believe youth soccer will resume in their area by July 2020. Read more
›Varsity Spirit And CaptainU Announce Partnership
Varsity Spirit, a division of Varsity Brands, announced a partnership with CaptainU, a self-managed recruiting software tool that connects high school athletes and college coaches across the country. Read more
›New Study Finds Exercise Helps Reduce Chronic Health Conditions
A study from Blue Cross Blue Shield Association (BCBSA) found individuals who consistently exercise see an 8 percent reduction in serious chronic health conditions like diabetes, a high-risk condition identified by the CDC that can lead to more serious outcomes from COVID-19. Read more
›Callaway Golf To Offer $200MM In Convertible Senior Notes
Callaway Golf said it is planning to offer $200 million in convertible senior notes that mature in 2026. Read more
›HanesBrands Pivots To Production Of Medical Gowns
HanesBrands is using its apparel design and manufacturing expertise to produce more than 20 million medical gowns to be distributed by the U.S. Federal Emergency Management Agency to hospitals and health care facilities in need during the COVID-19 pandemic. Read more
›Garmin’s Revenues Jump Double-Digits In Q1
Garmin Ltd. reported a 12 percent increase in sales and strong operating income growth for the first quarter while withdrawing its fiscal 2020 guidance due to COVID-19 economic uncertainty. Segment sales in the quarter grew 24 percent in fitness, 22 percent in marine and 14 percent in outdoor. Read more
›VF Corp. Brands Donate Nearly $55,000 To OIA
VF Corp. announced that some of its brands, including The North Face, Timberland, Icebreaker, Smartwool, Eagle Creek and Altra, will donate 15 percent of their Outdoor Retailer Summer Market refund to Outdoor Industry Association (OIA). Read more
›Winnebago Industries Confirms Operations Will Resume In May
Winnebago Industries Inc. confirmed Wednesday that the remainder of its business divisions would resume operations in early to mid-May. Read more
›NPD: Leisure Footwear Sales Slump 15 Percent In First Quarter
U.S. sales of leisure footwear, which includes many of the industry’s athletic-lifestyle and outdoor categories, were down 15 percent in the first quarter, according to the NPD Group. Fashion footwear tumbled 24 percent and the smaller sport-specific performance footwear category declined 19 percent. Read more
›MLB Discussing Plan To Start Season In Home Cities In June
MLB is considering starting its season in late June or early July with teams playing in their home ballparks albeit with no fans., according to a USA Today report. Read more
›Shimano’s Revenues Slump 12 Percent In Q1
Shimano Inc. reported operating income decreased 22.3 percent in the first quarter as sales fell 12.3 percent. (Read More)
›Spartan Offers 1 Million Free Event Entries To Support The Fitness Industry
Spartan, known for its obstacle course race (OCR) and endurance races, will offer up to one million free event entries to members of fitness facilities who continue to pay their dues, in an effort to support the industry that has been devastated by the COVID-19 pandemic. Read more
›Rocky Mountain Bicycles Appoints Chief Commercial Officer
Rocky Mountain Bicycles has announced the hiring of David Cathcart as its new chief commercial officer. Since 1998, Cathcart has pursued a career in sports and cycling at both the Saris Cycling Group and Garneau, as a member of their executive teams. Read more
›American Pacific Acquires SaltStick
American Pacific Group has purchased SaltStick, a Malibu, CA-based provider of electrolyte supplement products designed for high-endurance athletes. American Pacific made the acquisition through its Roadrunner Holdings platform, which it will use to target other sports nutrition brands and related products. Read more
›Inaugural Rock ‘n’ Roll Virtual Running Series Race Draws 11,000
A total of more than 11,000 people from 80 nations and all 50 states took part in the Rock ‘n’ Roll VR1, the inaugural event in the Rock ‘n’ Roll Virtual Running (VR) Series held last weekend. Rock ‘n’ Roll VR1 consisted of a 5K with participants having the ability to compete anywhere, indoors or outdoors. Read more
›Helen of Troy’s Houseware Sales Climb 15 Percent In Q4
Helen of Troy Ltd. reported sales at its Housewares segment, which includes Hydro Flask and OXO, increased 15.0 percent in the fourth quarter ended February 29. Read more
›Simon Property Group To Reopen 49 Malls
Numerous reports on Tuesday afternoon said Simon Property Group would reopen 49 malls that have been shuttered for more than a month due to the coronavirus. Read more
›Rocky Brands Hits COVID-19 Headwinds In Q1
Rocky Brands Inc. reported first-quarter net sales of $55.7 million, down from $65.9 million in the year-ago period. The company reported first-quarter net income of $1.2 million, or 16 cents per diluted share, compared to net income of $3.6 million, or 48 cents per diluted share, in the first quarter of 2019. Read more
›Concept One Disputes Charges In Northwest Company Bankruptcy
Sam Hafif, CEO, Concept One Accessories, in a statement denied his company made any “inaccurate representations” prior to the 2017 sale of its team sports bag business to The Northwest Company (TNC). The charge against Concept One was included in court papers related to TNC’s bankruptcy filing. Read more
›RV Shipments Plummet 20 Percent In March
RV shipments totaled 30,288 units in March, a decrease of 20.3 percent from the 38,015 units shipped in March 2019, according to the RV Industry Association’s March 2020 survey of manufacturers. Read more
›WSL Postpones All Events Through June
Due to the continued evolution of the COVID-19 pandemic, the World Surf League (WSL) said it is postponing or canceling all events, at all levels of competition, through the end of June. The WSL will continue to monitor the situation and make the next call in early June. Read more
›Vail Resorts Announces Pass Credits To Make Amends For Shortened Season
After the 2019/20 ski season was cut short due to the coronavirus, Vail Resorts Inc. is making amends for skiers and snowboarders who felt they deserved compensation after not getting their money’s worth from their Epic Pass investment. The company said Monday it would offer credits to 2019/20 pass holders who purchase a 2020/21 Epic Pass. Read more
›JD Sports Suspends Dividend, Cuts Salaries
JD Sports said it will suspend its dividend, reduce the salaries of its senior management team and defer bonuses in order to support liquidity as a precautionary measure amid the COVID-19 pandemic. Read more
›Thule’s Revenues Decline In Q1
Thule Group reported sales declined 7.5 percent on a currency-neutral basis in the first quarter. Sales were down 13 percent in the Americas region and 5.7 percent in the Europe and ROW regions. Read more
›Macy’s Debt Ratings Lowered
S&P Global lowered the debt ratings of Macy’s as the rating agency expects prolonged effects of social distancing and a weak environment for discretionary spending will intensify pressures on the department store sector. S&P said Macy’s also faces sizable upcoming debt maturities over the next several years and potential covenant compliance issues under its revolving credit facility. Read more
›TrueCoach Acquired By TSG
TrueCoach, the health and fitness software provider, has been acquired by TSG, an Advent portfolio company. TrueCoach becomes part of TSG, following the acquisition of boutique fitness software providers Mariana Tek, Triib, Zingfit, and BrandBot. Read more
›Adidas’ Q1 Revenues Drop 19 Percent
Adidas AG reported first-quarter earnings tumbled 97 percent. Sales slumped 19 percent on a currency-neutral basis. Adidas also warned that the second-quarter results would decline to a greater degree. Read more
›NBA Could Begin Allowing Workouts By May 8
The NBA informed its teams on Monday that it is planning to modify its guidance regarding the use of team practice facilities and player training. The league is targeting no earlier than Friday, May 8, as the commencement date for the new rules and that it may push the timing back if developments warrant. Read more
›VF Corp. Extends Pay, Benefits to Retail Employees Through May 30
VF Corp. said in a statement Monday it will extend “full pay and benefits to all retail associates in the U.S., Canada and Mexico through May 30” as the company prepares a careful and coordinated strategy for reopening some North American offices and owned retail stores. Read more
›REI Sets Another Sales Record In 2019
REI Co-op reported 2019 sales grew 12.3 percent year-over-year to reach a record $3.1 billion, but net income of $21 million marked a 55.3 percent decrease from $47.1 million the previous year. Read more
›Hibbett Announces Nomination Of Jamere Jackson To Board
Hibbett Sports Inc. announced the nomination of Jamere Jackson for election as a Class III director at the company’s 2020 annual stockholders meeting on May 28. (Read More)
›Chaco Footwear Launches Retail Support Program
Chaco Footwear announced it has created a partnership program to help support its retailers affected by the COVID-19 crisis. Read more
›Callaway Announces Preliminary Q1 Results, Provides COVID-19 Update
Callaway Golf Co. announced preliminary financial results for the quarter ended March 31 and provided additional commentary on the company’s performance amid the COVID-19 pandemic. Read more
›Retail Associations Unveil Blueprint For Shopping Safe
The Retail Industry Leaders Association (RILA) and the National Retail Federation (NRF) released a Blueprint for Shopping Safe outlining a phased-in approach to reopening retail. Read more
›Fleet Feet, The Run Experience Partner On Virtual Training Program
Fleet Feet and The Run Experience announced they have joined forces to create Together We Move, a free virtual training program featuring daily original content from experienced runners, professional athletes and coaches, and health and wellness experts. Read more
›Northwest Company Files For Bankruptcy Protection
The Northwest Company LLC, a manufacturer of league licensed blankets, packs and other items, filed for bankruptcy protection in the Southern District of New York. The filing was blamed on a failed acquisition, quality issues at a third-party vendor, tariffs and general weakness at retail in recent years. Read more
›Vista Outdoor Sees Q4 Earnings Exceeding Guidance, Appoints CFO
Vista Outdoor expects fourth-quarter earnings to exceed expectations after seeing “strong demand” within its commercial ammunition, cycling and outdoor cooking categories and also said it believes it has the financial flexibility required to navigate COVID-19’s impact. Vista Outdoor also appointed Sudhanshu Priyadarshi as CFO. Read more
›Nearly 50 NHL Players To Participate In NHL Player Gaming Challenge
In coordination with ESL Gaming, the National Hockey League (NHL) announced the first-ever NHL Player Gaming Challenge presented by Honda, the NHL’s Official Automotive Partner, featuring NHL players representing all 31 clubs. Read more
›Ross Stores Donates $1.5MM To COVID-19 Relief Efforts
Ross Stores, Inc. announced that the company and the Ross Stores Foundation have jointly pledged $1.5 million of donations to local and national organizations providing essential COVID-19 relief services and additional support to our associates. Read more
›Firearm Industry Honors Senator Shelley Moore Capito As Legislator Of The Year
The National Shooting Sports Foundation (NSSF), the trade association for the firearm, ammunition, hunting, and recreational shooting sports industry, recognized U.S. Senator Shelley Moore Capito (R-WV) as the 2019 National Shooting Sports Foundation Legislator of the Year. Read more
›Peloton Holds Largest Class Ever
Peloton, on April 22, held its largest class ever. More than 23,000 people tuned in for more than 10 minutes each to a live workout. Read more
›NBA Opening Some Practice Facilities
The NBA is reportedly planning to re-open a number of team practice-facilities. Read more
›Survey Finds Consumers Feel Least Safe Shopping in Malls
According to a nationwide survey from First Insight taken on April 20, the majority of consumers surveyed would feel the safest shopping in grocery stores (54 percent) and drug store chains (50 percent). Read more
›Creedmoor Sports Appoints Bill Gravatt As Managing Director
Creedmoor Sports, serving the precision rifle shooting community for more than 40 years, hired Bill Gravatt as managing director. He was most recently President of Capstone Precision Group (Berger Bullets). Read more
›Century Boats Acquires Vanquish Boats
Century Boats, based in Zephyrhills, FL, announced the acquisition of Vanquish Boats. The existing Vanquish models will soon be reintroduced as Century Coronado. Read more
