<span style="color: #a2a2a3;">What will youth sports look like in a post-COVID-19 world? In a recent survey of youth sports organizers, 46 percent believe their programs are in danger of permanently shuttering. And in a separate survey of youth sports parents, 54 percent are concerned that a program their children participate in could fold. Read more in this week’s SGB Executive feature article here.
…
›VF Corp.’s Q4 Sales Sink 11 Percents | May 15
VF Corp. reported revenue in the fourth quarter ended March 31 decreased 11 percent on a reported basis and fell 10 percent in constant dollars. Among key brands, currency-neutral sales were down 6 percent at Vans, 13 percent at The North Face, 18 percent at Timberland, and 2 percent at Dickies. Companywide sales and adjusted earnings both missed Wall Street’s targets. Read more
›University Of Akron Cutting Three Athletics Programs | May 15
The University of Akron said it is eliminating men’s golf, women’s tennis and men’s cross country as part of a plan to reduce 23 percent of its athletics budget. Read more
›Olin Announces Pricing Of Private Offering Of Senior Notes | May 15
Olin Corp., the parent of Winchester, announced the pricing of its previously announced private offering of $500 million aggregate principal amount of 9.5 percent senior notes due 2025. Read more
›Nike Partners With The University Of Indianapolis | May 15
The University of Indianapolis athletics department entered into a multi-year partnership with Nike through BSN Sports. The agreement is part of BSN Sports’ Collegiate Select program. Read more
›Columbia Sportswear To Reopen 30 U.S. Stores| May 15
Columbia Sportswear Co. will reopen 30 Columbia branded stores in ten states on Friday, May 15, 2020, bringing back more than 250 of its furloughed retail workers. Read more
›Yue Yuen Q1 Revenues Slump 20.6 Percent | May 15
Yue Yuen Industrial (Holdings) Limited, the largest sports footwear manufacturer, recorded revenue of $1.97 billion in the three months ended March 31, representing a decrease of 20.6 percent compared to revenue of $2.48 billion recorded in the same period of 2019. Read more
›Technogym’s Q1 Revenues Dropped 11.2 Percent | May 15
Technogym recorded a contraction in consolidated revenues of 11.2 percent during the first three months of 2020 compared to the same period in 2019. At constant exchange rates, sales were down 11.9 percent. Read more
›Asics Ventures Invests In Israeli Synthetic Spidersilk Startup | May 15
Asics Corp. announced that its investment subsidiary, Asics Ventures Corporation, has invested in Seevix Material Sciences Ltd., which was founded in 2014 following over a decade of academic research at the Hebrew University. Read more
…
›Adidas Launches #HOMETEAMHERO Challenge | May 14
Adidas plans to launch a virtual sporting event, the #HOMETEAMHERO Challenge, to support essential workers. From May 29 to June 7, for every hour of tracked activity, Adidas will donate $1 to the COVID-19 Solidarity Response Fund for the World Health Organization (WHO), with the goal of reaching one million hours. (Read More)
›The Buckle Converts Annual Meeting To Virtual | May 14
The Buckle Inc. announced a change in the format of its 2020 Annual Meeting of Stockholders from in-person to virtual-only. Read more
›Nike Provides COVID-19 Update On Operations | May 14
Nike released an update on the company’s operations in light of the coronavirus, including where stores have reopened and the slowing of product shipments to wholesale customers. Read more
›Dillard’s Q1 Sales Cut In Half | May 14
Dillard’s Inc. reported first-quarter sales decreased 47 percent to $786.7 million from $1.5 billion in the year-ago quarter. The company reported no comparable store sales data for the quarter ended May 2 due to the temporary closure of its brick & mortar stores as well as the interdependence between in-store and online sales. Read more
›Gregory, High Sierra Sales Stymied By Coronavirus-Driven Travel Halt | May 14
Samsonite International S.A. reported sales on a currency-neutral basis fell 7.6 percent for backpack brand Gregory and fell 48.3 percent for High Sierra in the three months ended March 31 due primarily to COVID-19 headwinds, especially in travel and tourism. Read more
›Under Armour Partners With The University Of Texas Rio Grande Valley | May 14
Under Armour has become the official athletic footwear, apparel and accessory brand of the University of Texas Rio Grande Valley (UTRGV) in a collaboration with BSN Sports. Read more
›Revolve Group’s Q1 Sales Improve 6 Percent | May 14
Revolve Group, Inc., a fashion e-tailer aimed at Millennial and Gen Z consumers, reported sales rose 6 percent in the first quarter to $146.1 million from $137.3 million a year ago. Read more
›Under Armour Amends Credit Agreement | May 14
Under Armour, Inc. entered into an amendment to its loan with JPMorgan Chase Bank that suspends the interest coverage covenant and lowers the debt to EBITDA ratio requirement under its leverage covenant. Read more
›Franklin Retail Solutions Hires Cathy Pryor As President | May 14
Franklin Retail Solutions, a leading provider of in-store services within major retailers in the sports, outdoor and fitness industries, has hired Cathy Pryor as president. Pryor was an executive officer and VP of store operations at Hibbett Sports. Read more
›Moosejaw, Walmart Collaborate To Launch Two Outdoor Brands | May 14
Moosejaw, in collaboration with Walmart, is introducing two gear and apparel lines, Lithic and Allforth. The brands mark the first product collaboration between the two companies since Walmart acquired Moosejaw in 2017. Read more
›REI To Open New Store In South Carolina In August | May 14
REI plans to open a store in the BullStreet District of Columbia, SC in August. The opening had been expected in May but was delayed in response to COVID-19. Read more
…
›Cat Footwear Appoints Chip Coe As President | May 13
Chip Coe has been named the new global brand president of Cat Footwear, a division of Wolverine World Wide Inc. Read more
›Wilson To Replace Spalding As Official NBA Ball Maker | May 13
The National Basketball Association (NBA) announced that Wilson Sporting Goods Co. will replace Spalding as the official game ball of the NBA starting with the 2021/22 season, the league announced. Spalding began making the basketballs exclusively for the NBA starting in 1983. Read more
›L.L. Bean Reopens Bike, Boat, Hunting And Fishing Stores In Freeport | May 13
L.L. Bean has re-opened its Bike, Boat & Ski Store and its Hunting & Fishing Store in its home town of Freeport, ME. The openings are in line with guidelines provided by Maine officials that deemed bike shops, fishing supply stores and federally licensed firearms dealers as essential retailers. Read more
›Gold’s Gym Upgrades Gold’s AMP Fitness App | May 13
Gold’s AMP, the first-ever digital personal training app from a brick & mortar gym, has revamped and launched an upgraded version for seamless user experience. The app, introduced initially by Gold’s Gym in 2017, will be available for free until May 31, 2020, to U.S. and Canada-based members and nonmembers looking for an at-home exercise option. Read more
›HitTrax To Become Available For Home Use | May 13
HitTrax Home, which utilizes the same core computer vision technology that powers the professional HitTrax model used by MLB organizations, is now available for private and residential users, according to the device’s developer, InMotion Systems. Read more
›J&B Importers Purchases Pure Cycles | May 13
Florida-based distributor JBI, a national bicycle distribution company, has announced the acquisition of Pure Cycles, an omnichannel bike brand. Read more
›Mavic Placed Into Receivership | May 13
Mavic, the French cycling components and accessories brand that has been under the management of a turnaround firm since February, been placed into receivership at the French commercial court. Read more
›PeopleForBikes Adds 60 New Member Companies | May 13
PeopleForBikes reported that 60 bike businesses have joined the industry coalition as new members since the organization merged with the Bicycle Product Suppliers Association (BPSA) in 2019. Read more
›Patagonia Sees Stores Opening In June At The Earliest | May 13
Patagonia does not anticipate opening any locations for in-store shopping until June, at the earliest, and it’s prepared to wait until the fall, or even early winter, according to a report in the New York Times. Read more
›Caleres To Reopen Retail Stores | May 13
Caleres Inc. said it has begun a phased reopening of its Famous Footwear and branded – Allen Edmonds, Naturalizer and Sam Edelman – retail stores in a safe and systematic manner. Read more
›Iconix’s Q1 Revenues Slump 22 Percent | May 13
Iconix Brand Group, the parent of Starter, Danskin and a number of other fashion and active brands, reported a loss after impairment charges in the first quarter on a 22 percent sales decline due, in part, to pressures from COVID-19. Iconix said it signed 41 license deals during 2020 and is making progress in improving its cost structure. Read more
›TJX Cos. Begins Reopening Stores | May 13
TJX Cos., the parent of TJ Maxx, Marshalls and Sierra, has started to reopen stores with a focus on safety. Associates are being required to wear face masks and social distancing work practices are being implemented. Read more
…
›Russell Athletic Expands “Hope for Hospitals” Initiative | May 12
Russell Athletic is further expanding its Hope for Hospitals initiative by dedicating up to $700,000 of product donations for the duration of the campaign. Read more
›Fleet Feet Celebrates Global Running Day With Nationwide Virtual Running Event | May 12
With physical distancing precautions still in place across the country, Fleet Feet announced its fourth annual Global Running Day event. The Big Run will take place virtually this year. Shifting names to My Big Run, the June 3 Global Running Day initiative will take place in partnership with Brooks. Read more
›Survey Finds Runners Hesitant To Return To Running In Groups | May 12
According to a survey of runners from the Road Runners Club of America (RRCA), 60 percent are comfortable running with five or fewer people once a return to larger group running is permitted. Fifty-one percent are comfortable with 10 or fewer runners, but the percentage of comfort drops significantly when group runs start to see 20 or more participants. Read more
›Tracksmith Announces Addition Of Mary Cain, Nick Willis | May 12
Tracksmith, the independent Boston, MA-based running brand, announced that elite athletes Mary Cain and Nick Willis have joined the company as full-time employees—a move that will spearhead a broad-based effort from Tracksmith to support amateur runners. Read more
›Delta Apparel Announces Contract Extension For Chairman And CEO | May 12
Delta Apparel Inc. announced a two-year extension of the employment contract with its Chairman and CEO, Robert W. Humphreys. Read more
›REI To Begin Reopening Stores | May 12
REI Co-op announced a plan to slowly begin reopening brick & mortar stores across its U.S. footprint as the company prepares a “safe return to customer-facing services.” Read more
›MLB Proposes 82-Game Season Starting In July | May 12
Major League Baseball agreed on a proposal for an 82-game season that would start without fans in early July. Read more
›Yue Yuen’s April Sales Decline 19 Percent | May 12
Yue Yuen Industrial Ltd., the world’s largest sports footwear manufacturer, reported April’s revenues were down 19.1 percent. Pou Sheng International Ltd., the retail subsidiary of Yue Yuen, saw an 11.2 percent decline. Read more
›Outerstuff’s Debt Ratings Lowered | May 12
Moody’s Investors Service lowered the debt ratings of Outerstuff LLC, the supplier of branded youth apparel for the major sports leagues. The downgrade reflects Outerstuff’s missed term loan principal and interest payments that were due March 28, 2020, and it enters into a forbearance agreement with term loan lenders on April 6, 2020. Read more
›Equinox Sets Reopening Strategy | May 12
Equinox Sports Club has unveiled its reopening plan which comes with ramped up cleaning and sanitation, health checks, limited club capacity, PPE, contactless features, and changes in etiquette, the fitness club posted on its website. Read more
›Hanesbrands CEO Plans To Serve As Consultant In 2021 | May 12
Hanesbrands Inc. announced that Gerald Evans, Jr. will stay on as a consultant for a year after he retires as CEO at the close of this fiscal year. Read more
›Arc’teryx Equipment Appoints Katie Becker As First VP Creative | May 12
Arc’teryx Equipment has named Katie Becker as the brand’s first VP creative. Becker joins Arc’teryx after a 12 plus year career with Adidas, where she recently served as senior global design director. Read more
…
›Mueller Sports Recognized By The Professional Football Athletic Trainers Society | May 11
Mueller Sports Medicine was recognized as a Platinum Partner by the Professional Football Athletic Trainers Society. Read more
›Nike Tops Stage Stores’ Unsecured Creditors List | May 11
Nike Inc. was left with the largest unsecured claim in the bankruptcy filing of Stage Stores. Skechers, Adidas and Columbia Sportswear were also among the Top 20 unsecured creditors. Read more
›OIA, Outdoor Brands Press For Federal Funding Of Recreation Infrastructure | May 11
Outdoor Industry Association (OIA) and more than 60 industry companies sent a letter to congressional leaders urging them to consider the critical role of America’s public lands and outdoor recreation in upcoming legislative proposals to aid the nation’s economic recovery. Read more
›Report: Penney Bankruptcy Possible This Week | May 11
J.C. Penney is preparing to file for bankruptcy and plans to close about 200 of its 850 locations, Reuters reported. Read more
›Wolverine Enhances Capital Structure For Increased Liquidity | May 11
Wolverine World Wide Inc. announced recent measures to increase its liquidity and the flexibility of its capital structure, primarily through the amendment of its Senior Credit Facility. (Read More)
›CODI Completes Strategic Capital Raise, Adds $290 Million In Gross Proceeds | May 11
Compass Diversified Holdings and Compass Group Diversified Holdings LLC (CODI) reported a capital raise of $290 million in gross proceeds from its previously announced capital markets activity. Read more
›COVID-19 Headwinds Hit Clarus’ Black Diamond, Sierra Brands | May 11
Clarus Corp., parent of Black Diamond Equipment and Sierra Bullets among other assets, reported sales for the first quarter of $53.6 million, a 12.4 percent decline from the same quarter a year ago. Revenue missed Wall Street’s expectations by $1.4 million. Read more
›Terence Reilly Appointed Global President Of Stanley | May 11
PMI Worldwide announced Terence Reilly has been appointed as global president for the company’s Stanley brand, reporting to CEO Bob Keller. (Read More)
›Study Finds Shoppers Still Don’t Feel Safe Trying On Apparel In Stores | May 11
As stores reopen across the country, a recent study by First Insight found that the majority of consumers (54 percent) are ready to buy apparel in-store, followed by home improvement (36 percent) and footwear (32 percent). Read more
›Ducks Unlimited Joins Forces To Promote #ResponsibleRecreation | May 11
Ducks Unlimited (DU) has joined forces with other leading conservation organizations to spearhead #ResponsibleRecreation – a media campaign encouraging Americans to enjoy outdoor recreation while adhering to proper COVID-19 safety protocols. Read more
›Royal Robbins Adds Sales And Marketing Talent | May 11
Royal Robbins announced two executive leadership hires, effective immediately. Tom Janettas has joined Royal Robbins as director of sales and Anne Soderstrom has been hired as director of marketing. Read More
›Genesco Inc. Provides Store Reopening Plan Update | May 11
Genesco Inc., the parent of Journeys, provided details on store reopening plans as well as business updates in response to the COVID-19 pandemic. Read more
›Yeti Launches Secondary Offering Of Shares | May 11
Yeti Holdings Inc. announced the commencement of an underwritten public offering of 15 million shares of Yeti’s common stock by certain of its stockholders. Read more
›Under Armour’s Q1 Revenues Tumble 23 Percent | May 11
Under Armour, Inc. reported sales fell 23 percent in the first quarter with approximately 15 percentage points of the decline related to COVID-19. The loss came to $589.7 million after restructuring charges in the first quarter, and the loss before charges was below Wall Street’s target. Read more
›Belk Reopens Additional Stores Across The South | May 11
Belk announced it will continue to open stores across its 16-state footprint following temporary closures due to COVID-19. On May 8, stores in Florida, Texas, Alabama, and Mississippi opened. North Carolina stores will officially open on May 11. Read more
›Nordstrom Reveals Locations Of 16 Stores To Close | May 11
Nordstrom provided a list of 16 full-line stores it plans to close. On May 6, Nordstrom announced plans to permanently close 16 of its 116 full-line stores and announced other additional actions to increase flexibility and agility in response to COVID-19. Read more
›DSW To Implement Store Safety Measures | May 11
DSW announced it will implement sterilization procedures and safety measures as it starts to re-open almost 200 stores in the U.S. and Canada. Read more
›Stage Stores Files For Bankruptcy | May 11
Stage Stores Inc. filed for bankruptcy protection. The company will simultaneously solicit bids for a going concern sale of the business or any of its assets and initiate an orderly wind-down of operations. The company will terminate the wind-down of operations at certain locations if it receives a viable going-concern bid. Read more
›Tilly’s Q1 Revenues Drop 41 Percent | May 11
Tilly’s Inc. reported sales in the first quarter fell 41 percent due to COVID-19-related store closures despite a 55 percent hike in online sales. The action sports retailer also announced certain store reopening plans and provided other business updates, including plans to withhold rent payments for April and May. Read more
›Dorel Sports Swings To Loss On Covid-19 | May 11
Dorel Sports showed an operating loss of $611,000 due to the impact of COVID-19. The business showed its fourth consecutive quarter of revenue growth as April bicycle sales surged with stay-at-home families seeking exercise and alternatives to vacations. Read more
