Author: SGB Media

Deckers Brands’ Q4 Profits Slide

May 21, 2020 SGB Update

Deckers Brands Inc. reported earnings on an adjusted basis were off 35.3 percent as sales slid 4.9 percent.  A 51.8 percent hike in Hoka One One’s sales was unable to offset a 17.9 percent decline at Ugg tied to store closures.

SFIA Survey: COVID-19 Hits Industry Hard, Yet Fitness Surges

May 21, 2020 SGB Update

Over 70 percent of sports and fitness manufacturers and businesses reported a sales drop of over 25 percent for the month of April (comparing April 2020 sales to April 2019 sales), with 30 percent of respondents reporting a sales drop of over 75 percent, according to SFIA’s COVID-19 Response Survey. However, there were pockets of strength: home fitness equipment and at-home sports equipment sales grew in the same period.

Nike To Let Liverpool End Season With New Balance

May 21, 2020 SGB Update

Liverpool, the English Premier League club positioned to win its first title in more than 30 years, has reached a settlement with Nike that will allow the team to continue to wear their New Balance kit until the end of the season.

Pop Warner Partners With Super Fan Sports Fundraising

May 21, 2020 SGB Update

Pop Warner Little Scholars, Inc., the nation’s oldest youth football, cheer and dance organization, recently named Super Fan Sports Fundraising as an official fundraising partner through 2022, giving programs an online fundraising option that allows them to reach their needs even during times of widespread public health emergency.

Macy’s Seeing Strong Reopenings

May 21, 2020 SGB Executive

Macy’s said its store reopenings are generating sales higher than expected and its digital momentum has not fallen off. The department store giant provided an update while pre-releasing first-quarter results that included a forecast for an operating loss of up to $1.1 billion for the period

Shoe Carnival Sees Decision Not To Furlough Workers Paying Off

May 21, 2020 SGB Executive

Shoe Carnival Inc. reported a loss in the first quarter on a steep sales decline due to stores closures tied to COVID-19. But online sales are increasing more than three-fold and officials believe a decision not to furlough any workers is helping drive above-plan sales as stores reopen.

TJX’s Q1 Sales Tumble 52.5 Percent

May 21, 2020 SGB Update

The TJX Companies Inc. reported a net loss of $887 million, or 74 cents a share, in the first quarter against earnings of $700.2 million, or 57 cents, a year ago. Sales declined 52.5 percent to $4.4 billion from $9.28 billion a year ago. 

Canada Goose Lays Off 125 Employees

May 21, 2020 SGB Update

Canada Goose Holdings Inc has laid off 125 workers, about 2.5 percent of its global workforce, as part of steps to cope with the impact of COVID-19 on its business.

Macy’s Warns Of $1 Billion Quarterly Loss

May 21, 2020 SGB Update

Macy’s Inc. predicted a first-quarter operating loss in the range of $905 million and $1.11 billion as the department store giant was forced to shut stores to slow the spread of the coronavirus. First-quarter sales are expected in the range of $3 billion to $3.03 billion, down from $5.50 billion a year earlier, a decline of 45 percent.

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