On Saturday, Nike released a new ad campaign to express the importance of social distancing during the coronavirus pandemic. The campaign also promotes the brand’s workout app and timed with the announcement that programming is now accessible to users free of charge.
Author: SGB Media
Foot Locker Increases Cash Position In COVID-19 Pre-Caution
Foot Locker Inc. said in a regulatory filing that it borrowed $330 million under its revolving credit facility. The retailer said the borrowings were made as a precautionary measure to increase its cash position and preserve financial flexibility in light of the uncertainty in the global markets resulting from the COVID-19 pandemic
Trade Associations Send Letter To President Trump Over Coronavirus Impact On Business
The National Retail Federation, along with dozens of other trade associations, sent a letter to President Trump over the weekend outlining their concerns over the impact the coronavirus is having their members’ businesses.
Team Canada Withdrawing From 2020 Summer Olympics
The Canadian Olympic Committee (COC) and Canadian Paralympic Committee (CPC), backed by their athletes’ commissions, National Sports Organizations and the Government of Canada, decided to not send Canadian teams to the Olympic and Paralympic Games in the summer of 2020 due to coronavirus concerns.
Thule Group AB Withdraws Proposal For Dividend
The board of directors of Thule Group AB has decided to withdraw previously communicated proposal for a dividend of SEK 7.50 (US$0.72) per share, or a total of SEK 774 million (US$74.2 million).
Vibram Provides Production Updates For Italian, Chinese and U.S. Facilities
Due to the coronavirus, Vibram announced that it has decided to temporarily suspend production at its Italian facility, located in Albizzate, for at least a week, in order to allow all workers to stay at home safely. The company also provided updates for its U.S. and Chinese operations.
Mountain Hardwear Backs Out Of ORSM, GOA Shows
Even as Outdoor Retailer said last week it was still planning to host its Summer Market this June in Denver, CO, one prominent outdoor brand—Mountain Hardwear—announced it would not attend the show as well as the Grassroots Outdoor Association in Knoxville, TN, also scheduled to be held in June.
Why Hibbett Has Decided To Keep Stores Open
The coronavirus has forced many retailers to temporarily close their doors, but Birmingham, AL-based Hibbett Sports Inc. believes its locations are better positioned than big-box competitors and isn’t issuing a companywide shutdown. Hibbett CEO Mike Longo spoke on the fourth-quarter earnings call Friday morning—his first since being named to the top post last December—about the company’s resiliency amid this current crisis.
Aisle Talk | Week Of March 16, 2020
The Week’s Top Headlines across the Active Lifestyle Industry as reported in SGB Updates during the week of March 16, 2020.
Outdoor Retailer Summer Market Still On—For Now
Outdoor Retailer Summer Market, scheduled for June 23-25 at Colorado Convention Center in Denver, CO, is still on as of March 20 despite the spread of the coronavirus, the company announced in a Friday morning email.
Fiscal 2020 Becomes ‘Year to Forget’ For Vail Resorts
The coronavirus has taken a huge toll on Vail Resorts Inc., which closed its 34 North American resorts (with the chance of reopening three of them). Vail remains in a strong financial position, but such an abrupt end to the ski season quickly turned the company’s fiscal 2020 into a “year to forget.”
Best Running Stores Event Postponed
Diversified Communications has decided to postpone its Best Running Stores event due to the escalating COVID-19 outbreaks and contagion.
Simon Property Group Temporarily Closes All U.S. Properties
Simon Property Group announced Thursday that it will close all of its retail properties, including malls, premium outlets and mills in the U.S. to address the spread of COVID-19.
Hibbett Sports Delivers 4 Percent Q4 Comp Gain
Hibbett Sports Inc. reported earnings on an adjusted basis, slid 14.5 percent in the fourth quarter, missing Wall Street’s guidance. Same-store sales grew 4 percent, its fifth consecutive quarter of comparable sales growth. The chain is not providing 2020 guidance due to the coronavirus. Mike Longo, CEO, said, “We believe we have ample liquidity and financial flexibility to navigate this period of uncertainty while positioning Hibbett for future success.”
Ross Stores To Temporarily Close Locations
Ross Stores Inc. announced that given the rapidly escalating developments related to the COVID-19 pandemic, the company will now temporarily close all Ross Dress for Less and dd’s DISCOUNTS locations throughout the United States effective March 20, 2020 through April 3, 2020.
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