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.
Author: SGB Media
TJX’s Q1 Sales Tumble 52.5 Percent
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
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
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.
Under Armour To Offer $400 Million Convertible Senior Notes Due 2024
Under Armour Inc. announced that it proposes to offer $400 million aggregate principal amount of its convertible senior notes due 2024.
New York Road Runners To Deliver Virtual Experiences On Global Running Day
New York Road Runners (NYRR) announced its virtual and digital experiences for Global Running Day on June 3. This year’s observance will digitally unite people across the world to encourage physical wellness, strengthen community, and offer support.
4iiii Innovations Announces Cervélo Co-Founder, Phil White, As Acting President
4iiii Innovations Inc., the Canadian-based maker of cycling power meters, heart rate monitors, and cycling trainers, welcomed Phil White as its acting president. White was the co-founder of Cervélo Cycles.
Equinox Holdings’ Debt Rating Lowered
S&P Global Ratings lowered the debt rating of Equinox Holdings Inc. following the fitness club operator’s closing on an amendment to its partial guarantee on the credit facility of its affiliate company SoulCycle Inc. that will allow it to defer its required repurchase of the affiliate’s debt to February 2021. S&P said it views the move as tantamount to a default.
Decathlon Introduces Scan & Go In Germany
Decathlon, the world’s largest sporting goods retailer, announced it is rolling out a mobile self-checkout solution across its 81 German stores.
Vans Gives Back With An Appreciation Discount
Vans will be extending its give-back program and offering a 30 percent discount to all first responders in the United States to thank them for their dedication and bravery in the fight against COVID-19.
Report: Orlando/Disney World Seen As Frontrunner For NBA’s Return
Orlando’s Walt Disney World has reportedly emerged as a front-runner to host NBA games if the 2019-20 season resumes this summer. Las Vegas also remains an option.
Shoe Carnival’s Q1 Revenues Drop 42 Percent
Shoe Carnival Inc. reported a loss of $16.2 million in the first quarter. Revenues fell 41.9 percent as the impact of substantially all stores being closed for approximately 50 percent of the quarter was only partially offset by increased e-commerce sales. As of May 5, over 50 percent of the off-pricer’s stores had re-opened.
DePaul University Extends Partnership With Nike and BSN Sports
DePaul University announced that it has entered into a multi-year partnership with Nike through BSN Sports to continue to make Nike the official apparel of DePaul Athletics.
Survey: 50 Percent Of Parents Fear Kids Will Get Sick By Returning To Sports
While most parents of children who participate in organized sports look forward to a return to play, approximately half fear they or their child will get sick from such activity when restrictions are lifted due to the coronavirus pandemic, according to a survey from North Carolina State University, in partnership with the Aspen Institute’s Project Play, Utah State University and George Mason University.
Eric O’Toole Becomes President North America, Edgewell Personal Care
Eric O’Toole, most recently general manager of Walmart’s Sports & Fitness e-commerce division, has been appointed president North America, Edgewell Personal Care Company.
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