Caleres Inc., parent company to Famous Footwear, Sam Edelman, Allen Edmunds, Naturalizer, and other footwear brands, reported Thursday that following a strong start to the year, first-quarter 2020 results were significantly impacted by COVID-19 and subsequent closures of the company’s retail stores along with the closure of its wholesale partners’ store operations. Despite this, actions […]
Author: SGB Media
Nike’s “Don’t Do It” Ad Earns Wide Praise But Some Pushback
Nike’s new “Don’t Do It” ad has drawn solid support from viewers although it if falls short of the marketer’s 2018 Colin Kaepernick ads on a couple key measures, according to findings from Ace Metrix, which tracks advertising effectiveness.
Zumiez’s Q1 Sales Drop 35 Percent
Zumiez Inc. reported sales tumbled 35.3 percent in the first quarter ended May 2 and slid 8.6 percent in May. The action sports retailer closed the quarter with 9 percent of its stores opening and ended the month of May with 69 percent open.
Sportsman’s Warehouse Q1 Revenues Soar 41.8 Percent
Sportsman’s Warehouse Holdings Inc.’s revenues jumped 41.8 percent in the first quarter due to surging demand for firearms and ammunition. Said Jon Barker, CEO, in a statement, “We introduced many new customers to the Sportsman’s Warehouse brand during the first quarter and we believe this bodes well for our long-term growth.”
Canada’s Sail Outdoors Files For Bankruptcy Protection
Sail Outdoors Inc., which operates 18 outdoor stores in Canada under the Sail and Sportium banners, has filed for bankruptcy protection in response to challenges posed by COVID-19 with a plan to restructure finances.
The Buckle’s Sales Drop 17 Percent In May
The Buckle Inc. announced that total net sales for the 4-week fiscal month ended May 30 decreased 16.8 percent to $51.2 million from net sales of $61.5 million a year ago.
G-III Apparel Group To Close Wilsons Leather And G. H. Bass Stores
G-III Apparel Group announced plans to close its 110 Wilsons Leather and 89 G.H. Bass stores. Separately, the company reported a first-quarter loss amid COVID-19 related revenue declines.
Duluth Trading Sees Modest Q1 Revenue Decline
Duluth Holdings Inc. the holding company of Duluth Trading, reported only a modest sales decline in the first quarter of May 3 as an acceleration of online sales helped to make up for store closures tied to COVID-19. Losses doubled in the traditionally-slow period for the brand.
Tilly’s Finds Online Strength Can’t Counter Store Closures
Tilly’s Inc. played every card in their hand to reduce cash burn in the fiscal first quarter ended May 2, including closing stores and its distribution center, holding back store rent payments, canceling orders, cutting executive pay, furloughing employees and tapping into its revolver, but the closure of all stores in their 239-door portfolio since March 18 was too much to overcome in the period.
The Running Event Confirms 2020 Dates
The Running Event has confirmed that it is moving forward with the 2020 planned event in Austin, Texas from December 1-3, 2020. TRE event registration will open in mid-August.
Slinger Bag Taps Paul McKeown For CFO Post
Slinger Bag has named Paul McKeown as chief financial officer, effective immediately. Most recently, he served as vice president of finance for Precor Fitness.
Columbia Sportswear Closes Stores During George Floyd’s Memorial Services
Columbia Sportswear in an internal memo said it will be closing all its stores for two hours during George Floyd’s memorial service, make donations to the NAACP Legal Defense Fund and the Marshall Project, and double-match contributions by employees to non-profits addressing racism.
MLS, Players Reach New Agreement, Sets Stage For Resuming 2020 Season
MLS and the MLS Players Association completed a new collective bargaining agreement on Wednesday after the MLSPA voted to approve a revised plan, paving a way for a return to play in July.
Nike Renews Sponsorship Of Stade Toulousain
Nike has renewed its sponsorship deal with Stade Toulousain, the French rugby club.
Rab and Lowe Alpine Join Fair Wear Foundation
British outdoor brands Rab and Lowe Alpine, owned by Equip Outdoor Technologies UK Ltd., are now an approved member of Fair Wear Foundation.
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