Wolverine World Wide Inc. provided a business update that it said: “further highlighted the company’s strong liquidity, supply chain stability and agile business model while detailing the proactive and precautionary measures it is taking to navigate the current environment.”
Author: SGB Media
Equip Outdoor Technologies Launches Risk Management Action Plan For Retailers During COVID-19
Against the background of the current crises caused by the global spread of COVID-19 and the challenges the outdoor industry is facing, Equip Outdoor Technologies, Owner of outdoor brands Rab and Lowe Alpine, has set up a Risk Management Action Plan to support its retailers and issued the following release.
USA Triathlon Statement On Postponement of Tokyo Olympics
USA Triathlon issued a statement in response to the International Olympic and Paralympic Committees’ respective announcements that the Olympic and Paralympic Games Tokyo 2020 will be postponed to 2021 due to ongoing logistical and public health concerns surrounding the COVID-19 global pandemic.
U.S. Road Race Participation Declines 2.7 Percent For 2019
The number of runners registering for organized races in the U.S. was down slightly in 2019, continuing a six-year gradual drawback of mass participation in recreational road racing. According to Running USA data analysis, the industry peaked in 2013, when 19 million runners crossed the finish line at U.S. running events over all distances.
Tultex Producing Face Masks For The Healthcare Industry
Tultex, an apparel brand under TSC Apparel, is redirecting its efforts to produce face masks for the healthcare industry amid the widespread shortage.
Advance To Acquire The Ironman Group
Advance, the owners of Conde Naste, entered into a definitive stock purchase agreement with Wanda Sports Group Company Limited to acquire The Ironman Group in an all-cash transaction.
Coronavirus Slams The Brakes On Winnebago’s Momentum
Winnebago Industries Inc. began its fiscal third quarter on March 1 with high hopes and enough momentum to fuel a fleet of motorhomes. But like it has for many companies, the coronavirus knocked Winnebago off course. On the fiscal Q2 earnings call with analysts, CEO Mike Happe explained the difficult decision to shutter operations just as spring and the prime RV season kicks off.
Shoe Carnival’s Q4 Earnings More Than Double
Shoe Carnival Inc. wrapped up a strong fourth quarter to mark its 11th consecutive year of comparable-store sales growth. The off-price footwear also stressed it’s financially and operationally prepared to manage any impact from the coronavirus outbreak.
Moody’s Assigns A1 Rating To Nike’s Proposed Debt Offering, Outlook Revised To Negative
Moody’s Investors Service assigned an A1 rating to Nike Inc.’s proposed senior unsecured note offering. The outlook change to negative reflects the material increase in term debt at a time when there is significant uncertainty around the duration and severity of the coronavirus spread, as well as the impact of store closures and reduced consumer spending on Nike’s revenue and earnings.
DSW Parent Places 80 Percent Of Workforce On Unpaid Leave
Designer Brands Inc., the parent of DSW, said it is implementing temporary leaves of absence for over 80 percent of its workforce, effective March 29. The move follows the temporary closure of its North American stores in March 2017.
Nordstrom To Extend Store Closures Another Week
Nordstrom Inc. announced it will extend its temporary store closure for at least one week through April 5. The retailer also said its top leaders will decline their salary from April through September and a portion of corporate employees will be furloughed starting April 5 for six weeks.
Canadian Tire Offers Special Support Program For Employees
Canadian Tire Corporation announced that the Canadian Tire Associate Dealers have implemented a temporary special support payment of $2 per hour for all active Canadian Tire store employees.
Modell’s Seeks Suspension Of Bankruptcy Case
Modell’s Sporting Goods is seeking a 45-day suspension in its Chapter 11 case claiming the COVID-19 pandemic has made it impossible to conduct going-out-of-business sales.
SFIA Provides Small Business Relief Resources Amid COVID-19
The Sports & Fitness Industry Association (SFIA) released resource links to provide the sports industry with a wide range of information regarding small business relief amid the coronavirus outbreak.reak.
Target Provides Business Update To COVID-19
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.
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