360 Adventure Collective has decided to cancel the 2020 New England and Mid-Atlantic regional trade shows due to safety concerns related to the spread of the novel coronavirus.
Author: SGB Media
Mouthguard Club Lands $1M Venture Capital Investment
Retainer Club, a subscription retainer service, and Mouthguard Club, which provides athletes with custom-designed mouthguards, announced the closing of a $1 million venture capital investment from Will Ventures, an early-stage venture capital firm that focuses on companies at the intersection of sports and technology.
Vida Shoes To Undergo Corporate Restructuring
Vida Shoes International, a licensee of fashion footwear brands, said it made the difficult decision to streamline teams throughout its operation with layoffs and temporary salary reductions. The announcement comes on the heels of COVID-19 as companies across industries are facing cost-cutting measures.
Hibbett Sports Posts Q1 Loss On Steep Sales Decline
Hibbett Sports Inc., posted a net loss of $15.3 million, or 92 cents a share, in the first quarter, as sales dropped 21.4 percent. E-commerce sales vaulted 110.5 percent and the retailer said its strong balance sheet provides ample liquidity to manage the COVID-19 fallout.
Asics Releases 2019 Sustainability Report
Asics Corp. released its 2019 Sustainability Report which summarizes the company’s progress towards medium- and long-term sustainability targets. The results for 2019 were highlighted by a 27.9 percent reduction in CO2 emissions per pair of shoes during the manufacturing process, far greater than targeted.
Wildwater Reopens After Brief Coronavirus Closure
Wildwater, the oldest outfitter in the Southeast, announced that it has resumed activities at all five of its adventure centers with new social distancing and health guidelines in place.
The Orvis Company Appoints Simon Perkins President
Orvis announced the appointment of Simon Perkins to president. Perkins will assume full strategic and operational leadership of the company as president and is the third generation of the Perkins family to lead Orvis since 1965. Outgoing President/CEO Bill McLaughlin will act as an advisor through the transition period.
Puma Signs Iceland Soccer Team
Puma announced that it has entered into a long-term partnership with the Football Association of Iceland (KSI) to become the official technical sponsor of men’s, women’s and youth teams.
Tecnica Group Closes 2019 With Record Turnover And Results
Tecnica Group reported that sales grew 6.4 percent to €424 million ($474.8 mm) in 2019, exceeding the target of its 2016/20 Industrial Plan. The company said Q1 2020 was tough, but the trend was positive for Rollerblade, the outdoor sector, and e-commerce despite COVID-19.
Macy’s Announces Proposed Offering Of Senior Secured Notes
Macy’s Inc. announced that it is offering $1.1 billion aggregate principal amount of senior secured notes due 2025 in a private offering. Macy’s intends to use the net proceeds from the offering of the notes, along with cash on hand, to repay all amounts outstanding under its revolving credit facility.
RunSignup Survey Shows Race Organizations Expect 45 percent Of Revenue In 2020
Revenue shortfalls for the current year are expected to be significant for race organizations of all sizes with the average expectation that they will see 45 percent of their 2019 revenue in 2020, according to a survey of ace organizers conducted in early May from RunSignup, a technology provider for U.S. races.
Hyperice Debuts First TV Commercial
Hyperice, best known for its Hypervolt vibrating massage tool, ran its first TV ad Sunday during “The Match: Champions for Charity Event.”
ICSC TV Ad Asks For Passage Of COVID-19 Recovery Fund
ICSC, the member organization serving the shopping center industry, has launched its first-ever national television campaign calling on elected leaders to create a COVID-19 Recovery Fund.
Clarks To Eliminate 900 Jobs
Clarks, the U.K.-based footwear company, said it was cutting 900 jobs globally and reviewing funding options to address liquidity needs caused by the coronavirus, according to Reuters.
Hudl Gains Investment From Bain Capital
Hudl, the sports performance analysis platform based in Lincoln, NE, announced an investment from Bain Capital Tech Opportunities, along with existing investors, to further accelerate the company’s growth.
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