The LEAD1 Association, which represents the athletics directors of the 130-member schools of the Football Bowl Subdivision (FBS), announced a series of initiatives to best prepare for the unknown financial challenges that the FBS now faces due to COVID-19.
Author: SGB Media
College Sports Won’t Resume Until Students Return
On a conference call with the College Football Playoff Management Committee, Vice President Mike Pence was told that college football wouldn’t come back until students are allowed on campus.
J.C. Penney Skips Interest Payment Amid Bankruptcy Fears
J.C. Penney said in a regulatory filing that it is considering “strategic alternatives” and has decided not to make a scheduled $12 million interest payment on a 2036 bond.
March Retail Sales Plummet During Coronavirus Pandemic
Retail sales saw their biggest monthly drop on record during March as the coronavirus pandemic forced restaurants, bars and many stores to temporarily close across the nation and stay-at-home orders also impacted gasoline sales, the National Retail Federation said.
Dr. Anthony Fauci Sees Sports Returning Initially Without Fans
Dr. Anthony Fauci, the government’s top infectious disease expert, on Snapchat’s show “Good Luck America” said that he sees sporting events returning without fans is within the realm of possibility in 2020.
PVH Corp. Pledges $2 Million Toward COVID-19 Relief Efforts
The PVH Foundation—PVH Corp.’s philanthropic fund specifically dedicated to nonprofit donations and volunteer programs—announced an additional $1 million, for a total commitment of more than $2 million, toward COVID-19 relief efforts.
Brand Finance Report Sees Significant COVID-19 Impact On Apparel Sector
Nike retained its title as the world’s most valuable apparel brand, brand value up 7 percent, according to the Brand Finance Global 500 2020. However, the report found the apparel sector will be among the most affected by the COVID-19 pandemic.
Skechers’ Animal Welfare Movement Has Raised $5.45 Million
Skechers has made a donation of more than $509,000 to the Petco Foundation, bringing the company’s total contribution to over $5.45 million for animal welfare agencies.
Nifty Games Raises More Than $12 Million
Nifty Games Inc., a developer and publisher focused on head-to-head sports games for mobile devices, has secured more than $12 million in Series A financing, with $15 million raised to date.
Retail Sales Plunge In March, But Bloodbath Just Beginning
U.S. retail sales plummeted 8.7 percent to $483.1 billion in March from the previous month, their largest dip in three decades since the government started tracking the data, the Department of Commerce reported Wednesday. But that is just the first sign of what is sure to be a season-long bloodbath across the retail sector for any business not selling essential items such as groceries.
Dick’s Announces Pricing Of $500 Million Private Offering
Dick’s Sporting Goods Inc. announced the pricing of its offering of $500 million aggregate principal amount of 3.25 percent convertible senior notes due 2025 in a private offering.
Ecco’s 2019 Revenues Climb 3.8 Percent
ECCO reported a slight decline in earnings in 2019. Revenues rose 3.8 percent to €1.36 billion from €1.31 billion.
DSW To Open In-Store Shops Inside Hy-Vee Locations
Designer Brands Inc. in a new partnership plans to roll out several DSW shop-in-shops in Hy-Vee stores over time. The partnership will launch initially with an online experience, offering customers DSW’s digital experience via Hy-Vee.com.
Under Armour Names Lisa Collier As Chief Product Officer
Under Armour Inc. announced the appointment of Lisa Collier as chief product officer. Collier joins Under Armour after leading NYDJ (Not Your Daughter’s Jeans) as President and CEO from 2016/19. Prior to joining NYDJ, she held numerous positions over her 13-year career with Levi’s Strauss & Co.
Caleres Expands Liquidity Position
Caleres announced it has exercised a portion of the accordion feature on its asset-based revolving credit facility. The exercise increases the available borrowing capacity under the facility by $100 million to a total of $600 million.
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