Neiman Marcus Group filed for bankruptcy Thursday in the U.S. Bankruptcy Court for the Southern District of Texas. The luxury chain has struggled to pay down $5 billion in debt, much of it from leveraged buyouts in 2005 and 2013.
Author: SGB Media
NPD: Sporting Goods, Home Fitness And Cycling Sales Surge In The U.S.
As U.S. consumers tackle ways to keep themselves and their families busy, active, and fit during this time of social distancing, sports and home fitness equipment as well as children’s and adult leisure bicycles have seen double- and triple-digit sales increases, according to retail sales data from The NPD Group.
New Balance Donates $1 Million In Sneakers To Healthcare Workers
New Balance announced that it is teaming up with its athletes, including Milos Raonic, Sydney McLaughlin, Dejounte Murray, Rose Lavelle, Rob Pannell, Trayvon Bromell, Joey Gallo and Zdeno Chara, to collectively donate more than $1 million worth of footwear to front line medical workers.
Kohl’s Announces Phased Approach For Store Reopenings
Kohl’s announced its plans to reopen stores in 10 states on Monday, May 11, after opening stores in four states earlier this week.
GoPro Q1 Revenue Cut In Half On COVID-19 Softness
GoPro Inc. reported first-quarter revenue was $119 million, in-line with the preliminary results published on April 15, slightly ahead of Wall Street’s expectations but down from $243 million for the same period a year ago.
Camping World Motors To Q1 Beat Despite COVID-19 Headwinds
Camping World Holdings Inc. reported first-quarter revenue decreased 3.5 percent to $1.03 billion primarily as a result of the company’s strategic shift in 2019 and the impact of the COVID-19 pandemic. That crushed Wall Street’s expectations by $53.5 million.
Callaway Golf Sees Sales Tumble But Remains Profitable In Q1
Callaway Golf Co. reported first-quarter net sales decreased 14 percent to $442 million from the year-ago quarter due to the negative impact of the COVID-19 pandemic on both the golf equipment and soft goods operating segments globally. The total beat Wall Street’s expectations by $1.6 million
New Balance Taking Ownership Of High School Nationals
New Balance said it will be parting ways with the National Scholastic Athletic Foundation (NSAF), which has handled registration, coordinates meet planning and public relations for New Balance’s national high school indoor and outdoor championships. The brand will be taking sole ownership in directing and coordinating its own meet starting in 2021.
The Aldo Group Announces Intention To Restructure Under Companies’ Creditors Arrangement Act
The Aldo Group Inc., the fashion footwear brand, announced that it sought and obtained an initial order pursuant to the companies’ Creditors Arrangement Act (CCAA) from the Superior Court of Québec. In addition, the company has voluntarily applied for similar protection in the United States and is about to do the same in Switzerland. The company intends to use the proceedings to stabilize the business.
Clif Bar Appoints New CEO
Clif Bar & Company announced that Sally Grimes, most recently at Tyson Foods, has been named the company’s new chief executive officer, effective June 1, 2020. With the appointment, Clif Bar founder, owners and current co-CEOs Gary Erickson and Kit Crawford will remain on the company’s Board of Directors.
Osprey Launches “Buy Online, Fit In-Store Program” To Support Independent Specialty Retailers
Osprey announced a new program aimed to support independent specialty retailers as they begin to open following the COVID-19 pandemic. The new “Buy Online, Fit In-Store Program” is designed to drive customers to Osprey specialty retail partners.
Vista Outdoor Closes Book On Transformational Fiscal Year
When Vista Outdoor Inc. ended its fiscal fourth quarter on March 31, the Anoka, MN-based company closed the book on a transformational year that included a portfolio shakeup, business segment realignment and, of course, an economy-crushing pandemic that drastically altered the demand environment.
Peloton Gains Steam As New Exercise Trends Create Tailwind
In the early days of the coronavirus, when shelter-in-place orders were announced and gyms around the country were forced to close, Peloton Interactive Inc. was identified as a potential beneficiary. Things didn’t go quite so well for Peloton initially, but the company’s fortunes have improved, as evidenced by its fiscal third-quarter earnings.
YNIQ Announces North American Distribution
YNIQ Sweden (Spoxury TR Group AB) announced the formation of its North American distribution, YNIQ North America, under the umbrella ownership of Wedge Brands, LLC, formerly ZG Holdings.
Vista Outdoor Posts Q4 Loss On Impairment Charges
Vista Outdoor Inc. reported a steep loss in the fourth quarter ended March 31 after impairment charges as sales fell 8 percent adjusted for the sale of the firearms business. The company also provided an update on its business operations and announced a realignment of its reporting segments to better reflect the company’s strategic focus.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal