Standard & Poors Corp. lowered all of its debt ratings on Callaway Golf by one notch to ‘B+’ and placed them on CreditWatch with negative implications. The change was due to its expectation a “severe slowdown in economic activity and consumer spending” as a result of the COVID-19 pandemic will reduce Callaway’s sales and EBITDA.
Author: SGB Media
Diane Pelkey Joins Chewy
Diane Pelkey, the former long-time SVP of communications at Under Armour, has been appointed head of communications and PR at Chewy, the online pet products retailer.
Duluth Trading Announces Additional Coronavirus Measures
Duluth Trading announced the furlough of 68 percent of salaried staff, a pay reduction for senior leadership ranging from 10 to 20 percent, and temporary raises for workers at distribution centers in response to the extended impact from COVID-19.
Endurance Sports Coalition Unites 475 Organizations To Secure COVID-19 Relief
The Endurance Sports Coalition, a coalition of endurance sports industry participants advocating for COVID-19 relief, has grown to more than 475 members across the running, triathlon, multi-sport, obstacle course and cycling event industries.
Academy Sports Said It Remains Open As Essential Retailer
In an update, Ken Hicks, CEO of Academy Sports + Outdoors, said Academy Sports has been deemed an essential retailer by CISA in most of its markets and the majority of its stores remain open.
OIA’s Lise Aangeenbrug On Outdoor Industry’s Challenges, Path Forward
In another installment of SGB Executive’s series of interviews with industry leaders exploring how businesses are coping with the coronavirus, Outdoor Industry Association’s new executive director Lise Aangeenbrug discusses the challenges facing the outdoor industry, how OIA is helping member businesses cope and the industry’s path forward out of this unprecedented crisis.
Aisle Talk Week Of April 6, 2020
Top National Stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market during the week of April 6, 2020.
Columbia Sportswear Furloughs 3,500 Retail Workers
Columbia Sportswear has furloughed 3,500 retail workers and reduced their pay by 75 percent. A restructuring also led to some downsizing at the corporate level.
Less than Half Of U.S. Golf Courses Remain Open
As of the end of last week, 44 percent of the nation’s golf courses were still allowing play, down slightly from the previous week, according to research from the National Golf Foundation (NGF).
Yue Yuen’s March Revenues Were Down 24 Percent
Yue Yuen reported sales slumped 23.6 percent in March, improving on the rate of decline seen in February.
Varsity Brands’s Debt Ratings Lowered
Standard & Poors lowered the debt ratings of Varsity Brands Co. Inc., the parent of Varsity Spirit, Herff Jones and BSN Sports, as the COVID-19 pandemic is leading to a growing number of school closures and event cancellations. An emphasis on social distancing and restrictions on large gatherings are also disrupting the company’s business, the rating agency noted.
Chris Paul And Trae Young Headline First-Ever NBA HORSE Challenge
ESPN, the NBA and the National Basketball Players Association (NBPA) announced that Chris Paul, Trae Young and Tamika Catchings will headline the list of eight NBA and WNBA players and legends who will participate in the new NBA HORSE Challenge.
NFL To Raise Funds For COVID-19 Relief Efforts
The NFL announced that the 2020 NFL Draft will serve as a three-day virtual fundraiser benefiting six charities – selected by the NFL Foundation – that are battling the spread of COVID-19 and delivering relief to millions in need.
New Balance Undergoes Furloughs
New Balance has decided to furlough a “portion” of its retail, factory and office workers because of the coronavirus pandemic. The decision will not impact factory workers in Lawrence, MA and Norridgewock, ME who are producing general use face masks for first responders.
Fox Factory Provides Business Update Related to COVID-19
Fox Factory Holding Corp. on Thursday provided an update on its business operations and actions taken related to the COVID-19 pandemic, including executive pay cuts, furloughs and withdrawing guidance.
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