Hearing high schools are facing budget cuts ranging from 20 percent to 50 percent, Karissa Niehoff, Executive Director at the National Federation of State High School Associations (NFHS), said in an Aspen Institute webinar she is “very worried” a wide range of high school sports programs will be eliminated as a result of COVID-19.
Author: SGB Media
VR Fitness Developer FitXR Secures Funding
FitXR, a VR fitness company based in London, has secured $6.3 million in investment funding, led by Hiro Capital, with continued support from U.S.-based BoostVC, Maveron and TenOneTen Ventures, together with an additional $1.2 million in the form of an innovation loan, from Innovate UK.
Mindbody Announces New Leadership Appointments
Mindbody, the technology platform for the wellness industry, announced that the company’s Co-Founder, Rick Stollmeyer, is transitioning from the role of chief executive officer to executive chair and that the Mindbody Board of Directors has appointed current President Josh McCarter to CEO effective August 1.
Everest Appoints Chief Marketing Officer
Everest.com, the online marketplace for the shooting sports industry, announced that Kristi Heuring has been appointed to the role of chief marketing officer. Heuring joins the Everest team after senior marketing roles with Aguila Ammunition and Aimpoint, Inc.
AAFA: Lack Of Trade Credit Insurance Could Hinder Economy Restart
The American Apparel and Footwear Association in a statement urged federal leaders to support credit insurance for businesses to avoid hindering recovery efforts. The organization cited a new report published by economists Dr. Robert Litan and Dr. Yong Xu highlights on the need for a government-sponsored backstop to support trade credit insurance (TCI).
J.C.Penney Seeks More Time To Negotiate With Lenders
J.C.Penney submitted its business plan to lenders, but is asking Texas bankruptcy court for more time to continue negotiations with lenders on a restructuring plan.
Delta Apparel To Report Sharp Sales Decline For Fiscal Q3
Delta Apparel, Inc. said it expects sales to drop 39.6 percent in the third quarter ended June 27, but noted that its business strengthened over the last two months of the period. DTG2Go’s preliminary sales grew 30 percent over prior year and Salt Life Group’s delivered June sales growth of 7 percent over the prior year.
Big 5 Sees Robust Q2 Profit Turnaround Despite Comps Decline
Big 5 Sporting Goods released upbeat preliminary results for the fiscal second quarter ended June 28. The company said it expects earnings per share of 52 cents to 54 cents for the quarter, including a benefit of 15 cents related to rent abatements and litigation recovery, compared with breakeven EPS a year ago.
Nike Launches Nike Rise Concept Store In Guangzhou, China
Nike launched a new Nike Rise retail concept in Guangzhou that promises a curated “1-to-1, personalized shopping journey that connects consumers to sport, their communities and one another.”
Hydro Flask Recovering Smartly As Stores Reopen
Hydro Flask’s sales were down in the first quarter ended May 31, but sales have been rebounding steadily since May as stores have reopened. Officials at Helen of Troy, the brand’s parent, also see heightened interest in outdoor activities due to COVID-19 as a new driver for Hydro Flask’s growth.
RVCA Retains Northwest Sales Agency
RVCA has appointed Northwest Road Reps to represent the Pacific Northwest.
RIA’s KICK On-Demand Event Starts Tuesday
The Running Industry Association’s (RIA) virtual buying show, KICK On-Demand will kick off this Tuesday, July 14th. Eight live sessions are scheduled for the first week.
Grassroots Outdoor Alliance Adds 10 New Retail Members
Grassroots Outdoor Alliance (GOA) welcomed 10 new members this month increasing the organization to 83 retailers with 187 total doors in 45 states nationwide.
Sea Otter Classic Cancels 2020 Edition
The Sea Otter Classic’s 2020 event, which had been rescheduled for October 1 to 4, will be canceled, according to the event’s organizers. The Bicycle Leadership Conference, traditionally held prior to the Sea Otter Classic, has also has been canceled.
Costco’s U.S. Same-Store Sales Climb 11 Percent In June
Costco Wholesale Corp. said its June sales rose 11 percent to $16.2 billion, from $14.6 billion in June 2019. Same-store sales rose 12 percent, including an 11 percent increase in U.S. same-store sales.
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