Imports at major U.S. retail container ports are expected to see double-digit year-over-year declines this spring and summer as the economic effects of the coronavirus pandemic continue, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Author: SGB Media
How Camping World’s Pre-Pandemic Shift Paid Off
The timing of a strategy shift can be just as important as what it entails, and Camping World Holdings Inc.’s decision to exit outdoor retail last year—well ahead of the current COVID-19 pandemic—has proved rather auspicious.
Ruger Sees Significant Acceleration In Gun Purchases Amid Pandemic
Sturm, Ruger & Company Inc. has seen a tremendous surge in demand since mid-March with the firearms purchasing activity accelerating much faster than the last gun surge in late 2012 through 2013 that was tied to the mass shooting at Sandy Hook Elementary School.
Aisle Talk Week Of May 4, 2020
Top National Stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market during the week of May 4, 2020.
Peloton’s Marketing Chief To Exit
Carolyn Tisch Blodgett, Peloton’s head of global marketing, is leaving the company after four years. Her last day is May 29.
Neiman Marcus Files For Bankruptcy
Neiman Marcus Group filed for bankruptcy Thursday in the U.S. Bankruptcy Court for the Southern District of Texas. The luxury chain has struggled to pay down $5 billion in debt, much of it from leveraged buyouts in 2005 and 2013.
NPD: Sporting Goods, Home Fitness And Cycling Sales Surge In The U.S.
As U.S. consumers tackle ways to keep themselves and their families busy, active, and fit during this time of social distancing, sports and home fitness equipment as well as children’s and adult leisure bicycles have seen double- and triple-digit sales increases, according to retail sales data from The NPD Group.
New Balance Donates $1 Million In Sneakers To Healthcare Workers
New Balance announced that it is teaming up with its athletes, including Milos Raonic, Sydney McLaughlin, Dejounte Murray, Rose Lavelle, Rob Pannell, Trayvon Bromell, Joey Gallo and Zdeno Chara, to collectively donate more than $1 million worth of footwear to front line medical workers.
Kohl’s Announces Phased Approach For Store Reopenings
Kohl’s announced its plans to reopen stores in 10 states on Monday, May 11, after opening stores in four states earlier this week.
GoPro Q1 Revenue Cut In Half On COVID-19 Softness
GoPro Inc. reported first-quarter revenue was $119 million, in-line with the preliminary results published on April 15, slightly ahead of Wall Street’s expectations but down from $243 million for the same period a year ago.
Camping World Motors To Q1 Beat Despite COVID-19 Headwinds
Camping World Holdings Inc. reported first-quarter revenue decreased 3.5 percent to $1.03 billion primarily as a result of the company’s strategic shift in 2019 and the impact of the COVID-19 pandemic. That crushed Wall Street’s expectations by $53.5 million.
Callaway Golf Sees Sales Tumble But Remains Profitable In Q1
Callaway Golf Co. reported first-quarter net sales decreased 14 percent to $442 million from the year-ago quarter due to the negative impact of the COVID-19 pandemic on both the golf equipment and soft goods operating segments globally. The total beat Wall Street’s expectations by $1.6 million
New Balance Taking Ownership Of High School Nationals
New Balance said it will be parting ways with the National Scholastic Athletic Foundation (NSAF), which has handled registration, coordinates meet planning and public relations for New Balance’s national high school indoor and outdoor championships. The brand will be taking sole ownership in directing and coordinating its own meet starting in 2021.
The Aldo Group Announces Intention To Restructure Under Companies’ Creditors Arrangement Act
The Aldo Group Inc., the fashion footwear brand, announced that it sought and obtained an initial order pursuant to the companies’ Creditors Arrangement Act (CCAA) from the Superior Court of Québec. In addition, the company has voluntarily applied for similar protection in the United States and is about to do the same in Switzerland. The company intends to use the proceedings to stabilize the business.
Clif Bar Appoints New CEO
Clif Bar & Company announced that Sally Grimes, most recently at Tyson Foods, has been named the company’s new chief executive officer, effective June 1, 2020. With the appointment, Clif Bar founder, owners and current co-CEOs Gary Erickson and Kit Crawford will remain on the company’s Board of Directors.
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