Shoe Carnival’s Q4 Earnings Top Expectations

Shoe Carnival Inc. reported net earnings more than doubled in the fourth quarter as same-store sales grew 3.2 percent. Cliff Sifford, Shoe Carnival’s vice chairman and CEO, said, “Our strong balance sheet and prudent expense management provides us the financial flexibility to keep our steady footing during this challenging economic time.”

Survey: Fans Embrace Streaming, Reading And Exercise To Offset Sports Blackout

U.S. sports fans said they are turning to watching non-sports TV and streaming services, reading and working out during the “sports blackout” created by the coronavirus outbreak, according to a new survey by Altman Vilandrie & Company. The survey also shows that three-quarters of regular sports viewers are still following their favorite leagues.

Macy’s Freezes Hiring, Reduces Management Pay

Macy’s Inc. announced it is freezing both hiring and spending, as well as reducing pay for all levels of management director level and above, effective April 1 and lasting for the duration of the crisis. Jeff Gennette, chairman and CEO, will not receive compensation during this period.

Nike CEO John Donahoe Opens Up Coronavirus ‘Playbook’

Nike Inc. didn’t escape the fiscal third quarter entirely unscathed, and headwinds remain globally in Q4 and beyond, but the company managed to evade a revenue and earnings plunge thanks to the “playbook” it deployed as the coronavirus spread across China in recent months.

Big 5 Withdraws First-Quarter Guidance

Big 5 Sporting Goods Corp., in a regulatory filing, said that it is withdrawing its fiscal 2020 first-quarter guidance due to the “anticipated material negative impact of COVID-19 on the company’s financial results and the uncertainty related to its duration.”

Camping World’s Debt Ratings Lowered

Moody’s Investors Service downgraded the debt ratings of Camping World due to the potential for ongoing softness in the RV market as the coronavirus likely impacts purchases of big-ticket items.

Winnebago Industries Sees 45 Percent Q2 Gain

Winnebago Industries Inc. reported revenues for the fiscal 2020 second quarter ended February 29, increased 44.9 percent to $626.8 million compared to $432.7 million for the fiscal 2019 period. Revenues for Newmar, which was acquired in the first quarter of fiscal 2020, were $138.4 million.

Dick’s Sporting Goods Cuts Salaries And Expenses, Suspends Stock Buybacks

Dick’s Sporting Goods, in a regulatory filing, announced the temporary reduction in the base salaries of certain executive officers in response to the current business environment as impacted by COVID-19. The retailer also said it’s embarking on a “significant reduction” in expenses and planned inventory receipts, reducing planned capital expenditures, temporarily suspending its share buybacks, and evaluating its dividend program.