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.
Author: SGB Media
University Of Akron Cutting Three Athletics Programs
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.
Olin Announces Pricing Of Private Offering Of Senior Notes
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.
Nike Partners With The University Of Indianapolis
The University of Indianapolis athletics department entered into a multi-year partnership with Nike through BSN Sports. The agreement, which will commence on July 1 is part of BSN Sports’ Collegiate Select program.
Columbia Sportswear To Reopen 30 U.S. Stores With An Eye On Safety And Helping Communities
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.
Yue Yuen Q1 Revenues Slump 20.6 Percent
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.
Technogym’s Q1 Revenues Dropped 11.2 Percent
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.
Asics Ventures Invests In Israeli Synthetic Spidersilk Startup
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.
Adidas Launches #HOMETEAMHERO Challenge
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.
The Buckle Converts Annual Meeting To Virtual
The Buckle Inc. announced a change in the format of its 2020 Annual Meeting of Stockholders from in-person to virtual-only.
Nike Provides COVID-19 Update On Operations
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.
Dillard’s Q1 Sales Cut In Half
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.
Gregory, High Sierra Sales Stymied By Coronavirus-Driven Travel Halt
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.
May 14 Coronavirus Notebook: Petzl’s Preparation, M&A Moderation And More
As part of SGB Executive’s ongoing coronavirus coverage, we are highlighting companies and categories that are doing well. Our latest Coronavirus Notebook looks at how Salt Lake City, UT-based gear maker Petzl prepared for the pandemic. We also look at the potential freeze on M&A and recap our recent COVID-19 stories.
Under Armour Partners With The University Of Texas Rio Grande Valley
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.
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