Aisle Talk Week Of April 6, 2020

Aisle Talk Week Of April 6, 2020

Top National Stories and the Latest Headlines from SGB Updates
across the Active Lifestyle Market during the week of April 6, 2020.

»Columbia Sportswear Furloughs 3,500 Retail Workers | April 10
Columbia Sportswear has furloughed 3,500 retail workers and reduced their pay by 75 percent. A restructuring also led to some downsizing at the corporate level. Read more

»Less than Half Of U.S. Golf Courses Remain Open | April 10
As of the end of last week, 44 percent of the nation’s golf courses were still allowing play, down slightly from the previous week, according to research from the National Golf Foundation (NGF). Read more

»Yue Yuen’s March Revenues Were Down 24 Percent | April 10
Yue Yuen reported sales slumped 23.6 percent in March, improving on the rate of decline seen in February. Read more

»Varsity Brands’s Debt Ratings Lowered | April 10
Standard & Poors lowered the debt ratings of Varsity Brands Co. Inc., the parent of Varsity Spirit, Herff Jones and BSN Sports, as the COVID-19 pandemic is leading to a growing number of school closures and event cancellations. An emphasis on social distancing and restrictions on large gatherings are also disrupting the company’s business, the rating agency noted. Read more

»Chris Paul And Trae Young Headline First-Ever NBA HORSE Challenge | April 9
ESPN, the NBA and the National Basketball Players Association (NBPA) announced that Chris Paul, Trae Young and Tamika Catchings will headline the list of eight NBA and WNBA players and legends who will participate in the new NBA HORSE Challenge. Read more

»NFL To Raise Funds For COVID-19 Relief Efforts | April 9
The NFL announced that the 2020 NFL Draft will serve as a three-day virtual fundraiser benefiting six charities — selected by the NFL Foundation — that are battling the spread of COVID-19 and delivering relief to millions in need. Read more

»New Balance Undergoes Furloughs | April 9
New Balance has decided to furlough a “portion” of its retail, factory and office workers because of the coronavirus pandemic. The decision will not impact factory workers in Lawrence, MA and Norridgewock, ME who are producing general use face masks for first responders. Read more

»Fox Factory Provides Business Update Related to COVID-19 | April 9
Fox Factory Holding Corp. provided an update on its business operations and actions taken related to the COVID-19 pandemic, including executive pay cuts, furloughs and withdrawing guidance. Read More

»Winnebago Announces Business Updates Related To COVID-19 | April 9
Winnebago Industries Inc. provided an update on additional actions the company is taking in response to the COVID-19 pandemic including its manufacturing operations and ongoing cost containment and financial management initiatives. Read more

»Canada Goose Bringing Back Up To 900 Workers To Make Medical Gear | April 9
Canada Goose Holdings Inc., based in Toronto, announced its plans to ramp up domestic production of personal protective equipment (PPE) for frontline healthcare workers across Canada. Over the next two weeks, the company will begin to reopen all of its eight Canadian facilities, and at full capacity. As many as 900 employees will be working to support the efforts. Read more

»Canadian Tire Donates $5 Million For Canada’s Frontline Healthcare And Community Workers | April 9
Canadian Tire Corp. launched the C$5 million Canadian Tire COVID-19 Response Fund to help Canadians and communities respond to the current COVID-19 pandemic. Read more

»The Buckle’s March Sales Tumble 50 Percent | April 9
The Buckle Inc. announced that total net sales for the 5-week fiscal month ended April 4, 2020 decreased 50.2 percent. As previously announced, The Buckle closed all brick & mortar stores due to the COVID-19 pandemic for an indefinite period beginning March 18, 2020. Read more

»Nordstrom Warns Coronavirus May Lead to “Distressed” Financial Condition | April 9
Nordstrom Inc., in a regulatory filing, said the spread of COVID-19 has had a “substantial impact” on its business and results for the first quarter “and beyond will be adversely impacted in a significant manner.” Read more

»Bass Pro Reduces Pay For Executives And Store Managers | April 9
Bass Pro’s senior leadership is taking a 20 percent cut in pay as part of a move to absorb the coronavirus fallout, according to a company memo attained by Forbes. Pay for store managers, distribution center managers and other salaried employees will be reduced by 7 to 15 percent. Read more

»Stay Home, Play At Home, Nike Gives All Athletes The Digital Resources To Stay Active Indoors | April 9
Supporting the shift to stay home amidst the coronavirus, Nike is giving all athletes the digital resources they need to stay active indoors with free tools that span a range of digital content and platforms. Read more

»REI Postpones Billings Opening | April 9
REI Co-op’s planned opening of a store in Billings, MT, in spring 2020 has been postponed due to the ongoing pandemic. Read more

»Nike To Sponsor Temple University | April 9
Nike has signed a deal to replace Under Armour as the sponsor of Temple University effective July 2020. Read more

»Badger Sport Donates Over $14,000 To First Responders | April 8
Founder Sport Group, the parent of Badger Sport, Alleson Athletic, Garb Athletics and ProSphere, announced that initial sales of its Badger Performance Activity Masks have now generated over $14,000 in net proceeds, all of which is being donated to the All Clear Foundation a 501c3 organization dedicated to improving the life expectancy and wellbeing of all First Responders. Read more

»The Conservation Alliance Grants $945,000 To 49 Conservation Groups | April 8
The Conservation Alliance announced it has sent grants totaling $945,000 to 49 organizations working to protect and defend wild places in North America. Read more

»Burton Donates 500,000 Respirator Masks To Health Care Workers | April 8
Burton Snowboards announced that in the wake of the COVID-19 pandemic, the company is donating 500,000 KN95 respirator masks to health care workers on the frontlines across the Northeast. Read more

»Outdoor Recreation Roundtable Welcomes Two New Members | April 8
The Outdoor Recreation Roundtable announced two new members—Outdoor Industry Association (OIA) and Society of Outdoor Recreation Professionals (SORP)—bolstering ORR’s efforts to unify the industry and strengthen its influence. Read more

»Nautilus’ First-Quarter Results Exceed Guidance | April 8
Nautilus Inc. reported first-quarter sales rose 11 percent and earnings exceeded expectations, although it said it will no longer be providing guidance for the year as the “longer-term impacts of COVID-19 are highly uncertain and cannot be predicted with confidence.” Read more

»Nike, Lululemon Make Strides In Piper Sandler Teen Survey | April 8
Nike and Lululemon each made gains as preferred brands among Generation Z in Piper Sandler Cos.’ 39th semi-annual Taking Stock With Teens survey released Wednesday. Read more

»UGG, Deckers Pledge $1 Million COVID-19 Relief Efforts | April 8
Southern California-based footwear brand UGG and parent company Deckers Brands announced they have launched the “Better Together” initiative to donate more than $1 million to COVID-19 relief efforts through monetary and product donations. Read more

»Utah Companies Partner To Produce Face Shields For Health Care Workers | April 8
Four Utah-based companies—DPS Skis, Goal Zero, Petzl and Eastman Machine Co.—have joined forces to manufacture medical-grade reusable polycarbonate face shields for the Utah Department of Health. Read more

»Teamworks Raises $25 Million | April 8
Teamworks, the athlete engagement platform for collegiate and professional organizations, announced it has raised $25 million in Series C funding led by Delta-v Capital. Read more

»Headspace Appoints CeCe Morken President And Chief Operating Officer | April 8
Headspace, a leading meditation and mindfulness app, announced that CeCe Morken has been appointed to the newly-created role of president and chief operating officer (COO), effective April 15. Read more

»Puma Reopens First Location In Wuhan, China | April 8
Puma has re-opened its store in Wuhan, China, the city where the coronavirus was first reported. The company plans to re-open its five other stores in the greater Wuhan region by mid-April. Read more

»TRX To Provide Professional Education Course Virtually For Free | April 8
TRX, the maker of functional training equipment and training content, announced its professional education course — TRX Suspension Training Course (STC) — will be available virtually, and free of charge, in response to the current global climate amid COVID-19. Read more

»HanesBrands Takes Actions to Navigate COVID-19 Pandemic | April 8
HanesBrands, the parent of Champion, announced that it is taking actions to navigate the global economic environment caused by the COVID-19 pandemic, including limiting discretionary spending, reducing executive pay, managing inventory, leveraging the company’s e-commerce business across the online channel, and diversifying production to include face masks. Read more

»Dick’s Sporting Goods Furloughing ‘Significant Number’ Of Employees | April 8
Dick’s Sporting Goods said it will furlough “a significant number” of employees at its stores, distribution centers and corporate headquarters starting Saturday “due to the uncertainty surrounding the length of its store closures.” Read more

»Hylete Raises $12 Million In Equity Funding | April 7
Hylete, Inc., the fitness lifestyle brand based in Solana Beach, CA, announced a $12 million equity raise under a Regulation A Tier 2 offering. Hylete was founded in 2012 as a direct-to-consumer brand and had 2019 net revenues of over $12.5 million. Read more

»NBA Doesn’t See Decision On League Resumption Until At Least May | April 7
NBA Commissioner Adam Silver said Monday night that the decision on whether the league can resume won’t happen until May 1 at the earliest. Read more

»TJX To Furlough Most Stores, Distribution Center Employees | April 7
The TJX Cos. said it will be implementing temporary furloughs after April 11 for the majority of store and distribution center associates in the U.S. after announcing plans to continue its store closures in response to the pandemic. Its top executives have agreed to salary reductions. Read more

»Life Time Launches Family-Focused On-Demand Classes | April 7
Life Time announced it has launched four family-focused classes to help keep families healthy and active together at home. The addition adds to Life Time’s on-demand fitness classes, which launched within a week of the clubs nationwide closings on March 17, getting up to 50,000 streams daily. Read more

»The Basketball Embassy Partners With Ballogy On Virtual Player Development | April 7
Ballogy Inc., which helps youth and amateur athletes prepare for their sports, announced that it is teaming up with The Basketball Embassy (TBE), the resource for coach and player training development worldwide, to offer virtual camps and competitions from remote locations. Read more

»Planet Fitness Changes Annual Meeting To Virtual-Only Format | April 7
Planet Fitness Inc. announced that, due to the public health and safety concerns related to the COVID-19 pandemic, the company will change its 2020 annual meeting of shareholders to a virtual-only format. Read more

»RILA Releases #ShopSafe Video | April 7
The Retail Industry Leaders Association (RILA) released a video highlighting five tips for shoppers to #ShopSafe in an effort to slow the spread of the COVID-19 virus. Read more

»Big Gear Show Issues Statement On Inaugural Event | April 7
The Big Gear Show will go on this summer in Salt Lake City, UT. At least, that’s the plan for now based on an email the show’s organizers sent Tuesday afternoon. Read more

»Estimated March Imports Hit Five-Year Low | April 7
Estimates show that imports at major U.S. retail container ports dropped to their lowest level in five years in March, and imports are projected to remain significantly below normal levels through early summer as the coronavirus pandemic continues, according to the Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates. Read more

»Report: MLB Potentially Playing All Games In Arizona | April 7
According to the Associated Press, Major League Baseball and the MLB Players Association have been discussing the idea of playing the 2020 season entirely in Arizona. Read more

»Pure Archery Group Name Eastburn Octane Product Manager | April 7
Pure Archery Group announced that Jeff Eastburn has been appointed Octane product manager. Read more

»Macy’s Announces CFO Exit | April 7
Macy’s Inc. announced that Paula Price, executive vice president and chief financial officer, has made the decision to leave the company as of May 31, 2020. Read more

»VF Announces Action Plan In Response To COVID-19 | April 7
VF Corp. said it will reduce the salaries of its executive team over the next four months, keep its stores closed in North America and EMEA until May 3 and has drawn the remaining $1 billion under its revolving credit facility in response to the coronavirus outbreak. Read more

»Report: Dick’s Moves To Reduce Or Stop Paying Rent | April 6
Dick’s Sporting Goods is sending letters to landlords indicating that it will reduce, or outright not pay, rent due to the “unprecedented situation” created by the COVID-19 pandemic. Read more

»Peloton Cancels Live Classes After Employee Tests Positive For COVID-19 | April 6
Peloton Interactive Inc. said it would pause live production of its exercise videos at its New York and London studios through April 30 amid the outbreak of the coronavirus, according to Reuters. Read more

»NSSF’s Project ChildSafe Launches New Tools For First-Time Gun Owners | April 6
The National Shooting Sports Foundation (NSSF) unveiled a new infographic for first-time gun owners in response to the surge in firearms sales across the U.S. Read more

»Alterra Mountain Co. Enacts Measures In Face Of ‘Zero Revenue’ | April 6
Denver, CO-based ski resort Owner and Operator Alterra Mountain Co. has enacted a series of measures from layoffs to pay cuts to reducing capital expenditures as an aggressive reaction to “zero revenue for the foreseeable future,” CEO Rusty Gregory told employees in a company-wide email sent over the weekend. Read more

»The North Face Commits $1 Million In Grants To COVID-19 Recovery Efforts | April 6
The North Face announced it will join in the fight against the COVID-19 pandemic with the donation of $1 million in grants through its social advocacy platform, The Explore Fund, as well as the donation of 60,000 gloves to U.S. healthcare professionals and first responders. Read more

»Authentic Brands’ Debt Ratings Downgraded | April 6
Authentic Brands, which owns a portfolio of over 50 brands that include Spyder, Tretorn, Tapout, Prince and Volcom, had its debt rating downgraded and outlook reduced by Moody’s Investors Service due to disruptions caused by the coronavirus. Read more

»BSN Sports Steps-Up To Help Coaches And Athletic Directors | April 6
BSN Sports, a division of Varsity Brands, announced a series of initiatives to allow coaches and athletic directors across the country to remain connected to and engaged with their teams during the coronavirus outbreak and resulting school closures. The digital offerings are being offered free of charge. Read more

»PVH Completes Sale Of Speedo North America Business To Pentland Group | April 6
PVH Corp. completed the sale of its Speedo North America business to Pentland Group, the parent company of the Speedo brand, for $170 million in cash, subject to a working capital adjustment. Read more

»Nike Announces Additional Round Of COVID-19 Donations | April 6
Nike Inc. will provide an additional $1.6 million to help local organizations meet immediate needs, such as food assistance and medical care, in key cities and communities around the world where its employees live and work. Read more

»Genesco Takes Steps In Response To COVID-19 | April 6
Genesco Inc., the parent of Journeys, announced additional proactive steps in its efforts to significantly reduce expense, capital and inventory levels to mitigate the negative financial and operational impacts of COVID-19 and improve liquidity. Read more

»Survey Explores How COVID-19 Crisis Is Shaking Up Cities Hosting Major Sports Events | April 6
Global communications agency BCW (Burson Cohn & Wolfe) released results of a new survey focused on the impact of COVID-19 on cities hosting major sporting events. The key findings revealed that the current situation and disruption in the international sports event market by the COVID-19 virus will likely lead to significant strategic adjustments for many cities significantly involved in event hosting. Read more

»NRA Sues New York Over Deeming Gun Stores ‘Non-Essential’ | April 6
The National Rifle Association of America (NRA) is suing New York for shuttering gun stores amidst the ongoing coronavirus outbreak. Read more

»Acushnet Withdraws Guidance Due To Coronavirus Disruption | April 6
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, said in a regulatory statement it has withdrawn its guidance for 2020 and increased borrowings under its credit facility due to the “unprecedented uncertainty” caused by the coronavirus pandemic. Read more

»Herff Jones To Launch New Virtual Commencement Platform| April 6
Herff Jones, a division of Varsity Brands and provider of graduation and educational products, announced an exclusive collaboration with MarchingOrder and StageClip on a virtual commencement solution. Read more

»Trek Bicycle Launches Free Home Delivery | April 6
Trek Bicycle is launching free home delivery throughout the continental U.S. for online bike orders through May 1, 2020 in response to the COVID-19 pandemic. Read more

»Nordstrom Appoints Two New Board Members | April 6
Nordstrom Inc. announced the appointment of two new members to its Board of Directors: Jim Donald, co-chairman of Albertsons Companies, Inc., and Mark J. Tritton, president and chief executive officer of Bed Bath & Beyond. Read more

Photo courtesy MEL

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