G-III Apparel’s Adjusted Earnings Climb In Q4
G-III Apparel Group, Ltd. reported a strong gain in earnings on an adjusted basis in the fourth quarter ended January 31 despite a 1.6 percent dip in revenues. The company, a major supplier of fan apparel, is not providing guidance for the year due to the coronavirus outbreak.
Dick’s To Close For Two Weeks
Ed Stack, Dick’s Sporting Goods’ CEO, announced that the retailer will close its locations from March 19 until April 2 “in support of the nation’s efforts to stop the spread of COVID-19.” In a regulatory filing, Dick’s also said it has experienced a “significant reduction in customer traffic and demand” since March 10 and was withdrawing its guidance for the year.
New Wave Group Sees Significant Impact From Coronavirus
New Wave Group, the Swedish-based owner of Ahead, Auclair, Craft and Cutter & Buck, said it is largely affected by the spread of the coronavirus. The demand for the group’s products and services is expected to be significantly reduced for all operating segments during the remainder of the first calendar quarter of 2020.
Tara McRae Becomes TB12’s First Chief Marketing Officer
TB12, the performance lifestyle brand co-founded by six-time Super Bowl champion Tom Brady and business partner Alex Guerrero, announced Tara McRae, a former executive at Clarks and Puma, as the company’s chief marketing officer.
Amazon Warehouses Will Stop Accepting Non-Essential Items Amid Covid-19 Outbreak
Amazon is stopping sellers from sending non-essential items to its U.S. warehouses until April 5 to make space for vital items needed by its customers during the coronavirus outbreak.
Adidas To Temporarily Shutter Doors In The U.S., Canada And Europe
Adidas is temporarily shuttering all stores in the U.S., Canada and Europe according to Business Insider. The closures came one day after a leaked internal memo saw CEO Kasper Rorsted assuring employees stores would stay open.
Gap Inc. Announces Temporary Closure Of Stores In North America
Gap Inc. announced that, as a result of the escalating Covid-19 pandemic, it will temporarily close its Old Navy, Athleta, Banana Republic, Gap, Janie and Jack and Intermix stores across North America , effective March 19.
Adidas To Keep U.S. Stores Open, For Now
In an e-mail to Adidas and Reebok retail employees Monday morning, Adidas CEO Kasper Rorsted wrote that the company is not yet shuttering its U.S. stores because of the coronavirus. Rorsted wrote, “We have to keep the company going and open for business to ensure that we can pay our monthly bills and salaries to everyone. Closing down is easy, staying open in a healthy environment requires courage, persistence and focus.”
Sportsman’s Warehouse To Acquire Two Field & Stream Stores In Kentucky And Michigan
Sportsman’s Warehouse Holdings Inc. announced that it has entered into agreements with Dick’s Sporting Goods Inc. to acquire two Field & Stream locations. The stores in Crescent Springs, KY, and Kalamazoo, MI, will be rebranded as Sportsman’s Warehouse.
Foot Locker To Shutter Stores Due To Coronavirus, Withdraws Guidance
Foot Locker Inc. says it will close stores across North America, EMEA (Europe, Middle East and Asia) and Malaysia from March 17 through March 31.
L.L. Bean Closing U.S. Stores Over Coronavirus Concerns
L.L. Bean is closing all U.S. retail locations beginning midnight Monday, March 16 through March 29 out of precaution for the spread of the coronavirus, L.L. Bean President and CEO Steve Smith wrote in a letter to customers on Monday.
Academy Sports Outlines Coronavirus Response To Customers
In a letter to customers, Ken Hicks, Academy Sports’ chairman, president, and CEO, announced a number of precautions the chain is taking in response to coronavirus. He wrote in part, “We are fortunate that we currently have no reported team member or customer cases and our stores and facilities remain open for business.”
Dick’s Reduces Store Hours And Closes 10 Stores In Response To Coronavirus
Dick’s Sporting Goods said that as of March 17 it will be closing 10 stores and reducing daily hours across the chain due to the coronavirus outbreak. The revised store hours include 11:00 a.m. to 8:00 p.m. on weekdays.
Modell’s Gains Court Approval For GOB Sales
Modell’s Sporting Goods, which filed for Chapter 11 bankruptcy protection on March 11, won court approval to begin liquidation sales on its remaining 141 stores despite concerns from landlords.
PVH Corp. Response To Covid-19 Outbreak
PVH Corp. announced that in response to the escalating global coronavirus outbreak, it will close temporarily all company-operated retail stores across North America and Europe, effective March 17 through March 29.
