Nike Posts Q3 Revenue Beat, But COVID-19 Headwinds Loom Large

Nike Inc. reported diluted earnings per share for the fiscal third quarter of 53 cents, which was in-line with Wall Street’s expectations. Revenues rose 5 percent to $10.1 billion ahead of estimates by $530 million. COVID-19 primarily affected the company in China during the period, but executives will provide an update on the coronavirus’ impact on operations elsewhere in the world on its earnings call.

Puma Reduces Work Hours For 1,400 Associates

Puma announced that 1,400 associates in Germany would shift to shorter work hours until April 13 as sales slump due to the coronavirus, according to a report from Reuters. Its three top executives will also waive their pay for April.

JD Sports Provides COVID-19 Update

JD Sports Fashion Plc provided an update on the impact of COVID-19 on its business along with the measures it is taking to actively manage the risks to its customers, colleagues and operations.

Deckers Re-Opens Distribution Center

Deckers Brands said that after incorporating enhanced safety protocols, the company has resumed modified operations with limited capacity at its distribution center located in Moreno Valley, CA.

XTRATUF … Connecting Consumers To Fishermen During COVID-19

“The fishing industry and fishermen need continued consumer access for purchasing fish and seafood, and many businesses are offering alternative delivery options. XTRATUF is hoping to help support the community by connecting consumers across the country to healthy, fresh protein, shipped directly to your doorstep.”

March 24 Coronavirus Notebook: New Impacts To Business

Fallout from the coronavirus pandemic continues to rankle the active-lifestyle marketplace. Most retailers have temporarily closed their doors. Sports leagues show no signs of resuming play. And now the Summer Olympics has been postponed until 2021. The ripple effect of the coronavirus (COVID-19) is reaching new pockets of the U.S. economy and will linger for months to come.

The Buckle Provides Dividend Update In Response To COVID-19 Outbreak

The Buckle, Inc. announced that at its quarterly meeting of the board of directors, held on March 23, 2020, the Board deferred making a decision on dividend payments until its next regularly scheduled Board meeting. The company also announced that both its Chairman, President and CEO have elected to forgo their salary until such time as normal business operations resume.