Author: SGB Media

Yue Yuen’s Revenues Expand 4.2 Percent In 2019

March 31, 2020 SGB Update

Yue Yuen Industrial (Holdings) Ltd. recorded revenue of $10,105.4 million in 2019, representing an increase of 4.2 percent, compared with the previous year. Profit attributable to owners of the company declined by 2.1 percent to $300.5 million, as compared to $307.1 million recorded for the previous year.

Crocs Amends Credit Facility, Suspends Share Buybacks

March 31, 2020 SGB Update

Crocs amended its revolving credit facility and suspended share repurchases to preserve maximum liquidity and flexibility amid the COVID-19 pandemic. The company also said its retail stores in North America will remain closed until further notice.

Escalade Appoints New President & CEO

March 31, 2020 SGB Update

Escalade Inc., a maker of a wide range of sporting goods, announced the appointment of Scott Sincerbeaux as the organization’s next president and chief executive officer. Sincerbeaux joins Escalade from Wolverine World Wide, Inc., where he held several positions including president of The Stride Rite Children’s Group, president of direct to consumer and president of global retail. 

Saucony Run For Good Foundation Marks 15th Anniversary

March 30, 2020 SGB Update

Saucony marks the 15th anniversary of the brand’s Saucony Run for Good Foundation with the announcement of a new round of grant winners. Established in 2006, the Foundation has awarded more than $1.5 million dollars in grants to 180 schools and community organizations all dedicated to preventing childhood obesity through running and proper nutrition.

New Balance To Make Medical Masks

March 30, 2020 SGB Update

New Balance said it will be making medical-grade face masks at its U.S. plants as hospitals continue to face shortages of safety equipment amid the spread of the coronavirus.

Stage Stores Provides COVID-19 Business Update

March 30, 2020 SGB Update

Stage Stores Inc. announced a series of steps the company is taking to reduce costs and preserve liquidity in response to increasingly challenging market conditions and the impact of the COVID-19 pandemic.

Kohl’s Furloughs Workers Amid Extended Store Closures

March 30, 2020 SGB Update

Kohl’s said it will temporarily furlough store and store distribution center associates, as well as some corporate office associates, whose work has been significantly reduced by the store closures. Kohl’s also announced that it will extend the duration of its temporary store closures until further notice. 

USA Cycling Sees 30 Percent Revenue Decline In 2020

March 30, 2020 SGB Update

USA Cycling said it made the difficult but necessary decision to reduce its staff size by 15 percent and place an additional 25 percent on furlough for two to four months in anticipation of a 30 percent revenue reduction due to the COVID-19 coronavirus pandemic. 

Macy’s Continues Store Closures, Announces Furloughs

March 30, 2020 SGB Update

Macy’s Inc. announced that its stores, which have been closed since March 18 due to the coronavirus, will remain closed until “we have a clear line of sight on when it is safe to reopen.” The company also announced that the “majority” of its employees will go on furlough beginning this week.

Danskin Helps Drive Q4 Growth For Iconix Brand Group

March 30, 2020 SGB Update

Iconix Brand Group Inc. reported a strong improvement in earnings on an adjusted basis in the fourth quarter due to lower expenses and a small gain in revenue. The gains were helped by a sharp improvement in the Women’s segment led by the Danskin and Rampage brands.

Snow Sports Specialty Channel Coping With Lost Spring

March 30, 2020 SGB Executive

With ski resorts emptied and shops shuttered because of the coronavirus, what should be a booming season for snow sports specialty retailers has become the spring of their discontent. The channel is seeking ways to cope, but there’s no playbook for navigating this uncharted, unprecedented crisis.

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