Target Corp. said that as the COVID-19 crisis has evolved, the company has been experiencing unusually strong traffic and sales. As a result, the company has adjusted the expected timing of some of its strategic initiatives.
Author: SGB Media
Under Armour’s Chief Product Officer To Leave In August
Under Armour Inc. said Kevin Eskridge, chief product officer, will be leaving the company on August 15, 2020 to pursue other interests.
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.”
HanesBrands Increases Balance Sheet Flexibility, Withdraws Guidance
HanesBrands announced that it is proactively drawing down on its revolving credit facility as a precautionary measure to increase balance sheet flexibility during the coronavirus global pandemic. The company also is withdrawing its guidance for the 2020 first-quarter and full-year.
Kitsbow Partners With Local Outdoor Industry Manufacturers To Accelerate COVID-19 Face Shield Production
After pivoting its bike apparel production to make face masks and shields for first responders and medical providers in Western North Carolina, Kitsbow experienced unanticipated engagement from across the U.S., with demand totaling more than 100,000 units in the first week.
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.
Crocs Announces ‘Free Pair For Healthcare’ Program
Crocs Inc. announced the launch of a new program for those on the front lines of the battle against the coronavirus: “A Free Pair for Healthcare.”
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.
Canada Goose Dedicates Manufacturing Resources To Help Fight Coronavirus
Canada Goose announced the company will leverage its manufacturing facilities to begin production of necessary medical gear for frontline health care workers and patients across Canada in the fight against the coronavirus.
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.
Camping World CEO Marcus Lemonis To Donate Personal Funds To Employees
Camping World Holdings Inc. on Wednesday announced that Marcus Lemonis, the company’s chairman and CEO, plans to provide financial assistance to employees who are experiencing personal and financial difficulties as the result of the coronavirus pandemic.
Founder Sport Group Commits Manufacturing Facilities To Fight Spread Of COVID-19
Founder Sport Group, a manufacturer of performance athletic apparel, in tandem with All Clear Foundation, announced that it is committing part of its manufacturing facilities to join in the effort to help fight the spread of COVID-19.
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.
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