Wolverine World Wide reported that Todd Spaletto and the company mutually agreed he will resign as president of WWW’s Michigan Group on or before May 30, according to a regulatory filing.
Author: SGB Media
Lululemon’s CFO Joins Asbury Automotive Group
Patrick Guido, Luluemon’s CFO, will join Asbury Automotive Group. On April 16, Lululemon had announced that Guido was departing the company, effective May 8, for another opportunity.
Stein Mart Calls Off Buyout Plans
Stein Mart Inc. called off plans for a buyout by a private equity firm amid the “unpredictable economic conditions” caused by the COVID-19 pandemic.
Optimistic Start To Summer For Southeast Destinations Completely Reversed
In less than 30 days, the COVID-19 pandemic swept across the entire U.S. and the world and left five destination resorts in three Southeast states with a completely reversed scenario for the coming summer months, according to the Monthly Market Briefing released by DestiMetrics and Inntopia.
April 17 Coronavirus Notebook: Retail Woes, Reopening Plans And More
As the White House looks to reopen the country, our latest Coronavirus Notebook looks at this week’s grim economic news that drove the president’s decision. We also recap our recent COVID-19 business coverage in case you missed anything.
Aisle Talk Week Of April 13, 2020
Top National Stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market during the week of April 13, 2020.
Kohl’s Enters $1.5 Billion Asset-Based Revolving Credit Facility
Kohl’s Corp. in a regulatory filing said it has entered a $1.5 billion asset-based revolving credit facility.
Delta Apparel Sees Sales Decline In Second Quarter
Delta Apparel said it expects to see a 6 percent decline in sales in its fiscal second quarter ended March 28. Prior to the March impact of COVID-19, the company was on pace to achieve sales growth of approximately 9 percent for the quarter.
IHRSA Continues The Fight To Gain Federal Relief For Industry
IHRSA, the International Health, Racquet & Sportsclub Association, said that since Congress is moving quickly on the next rounds of stimulus relief, it has bulked up its federal lobbying power to ensure the next package provides relief for all of the country’s 40,000 health and fitness club operators.
Bench Sold To Wraith
Bench, the British streetwear brand, has been sold to Wraith, the brand’s primary European licensee.
FESI Survey Finds Significant COVID-19 Impact On European Sporting Goods Market
A survey from The Federation of the European Sporting Goods Industry (FESI) of its members found 45 percent of the companies declaring a loss of turnover ranging between 50 percent and 90 percent since the beginning of the COVID-19 crisis.
Nordstrom Announces Additional Liquidity And Flexibility Measures
Nordstrom Inc. announced the amendment of its $800 million revolving line of credit and the closing of its 8.75 percent secured debt offering of $600 million. The company said these actions will provide additional liquidity and flexibility in response to uncertainty related to the novel coronavirus (COVID-19).
Stage Stores Seeks Vendors’ Support To Skirt Bankruptcy
Stage Stores Inc. is counting on leeway from vendors to help it avert a bankruptcy filing, according to a report from Reuters.
Lululemon’s CFO Departs
Lululemon Athletica Inc. announced that its CFO, Patrick “PJ” Guido, will depart the company, effective May 8, in order to assume a leadership position outside of the apparel industry. Guido joined Lululemon in 2018.
Gold’s Gym Permanently Closes 30 Gyms
Gold’s Gym is closing about 30 gyms across the U.S., including all locations in Alabama, St. Louis, and Colorado Springs, CO due to the impact of the novel coronavirus.
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