Nordstrom Inc. said it was suspending its dividend, drawing down $800 million from a loan facility, and suspending its share buyback program in response to the “rapidly changing market uncertainty” from the COVID-19 pandemic.
Author: SGB Media
Running Industry Association Launches COVID-19 Resource Guide for Retailers
The Running Industry Association (RIA) has assembled an online resource guide to assist the run specialty community during the COVID-19 pandemic that is causing countless retail stores across the country to close indefinitely.
Rocky Brands Deemed ‘Essential Business’ By State Of Ohio
Rocky Brands Inc. on Monday announced it will continue operations and shipments from its distribution center in Logan, OH, following Ohio Gov. Mike DeWine and the Ohio Department of Health issuing a “Stay at Home” order for all nonessential businesses from March 24 through April 6.
Summer Olympics To Be Postponed Until 2021
The Summer Olympics, scheduled to be held in Tokyo from July 24 to August 9, will be postponed until 2021 due to the ongoing coronavirus pandemic, USA Today reported Monday afternoon.
TaylorMade Golf Appoints New CFO
TaylorMade Golf Company welcomed Rick Paschal as its new chief financial officer. He was at Varsity Brands.
How To Navigate M&A During The Coronavirus Crisis
Mergers and acquisitions are slowing to a crawl due to the coronavirus outbreak, but buyers and sellers can use this time to prepare for the surge of activity that’s sure to occur once business normalcy returns. SGB Executive examines the current M&A landscape and offers tips for navigating either side of the deal.
IHRSA Implores Congress To Include Fitness Industry In Stimulus
IHRSA has requested that Congress include health clubs, fitness centers, gyms, studios, and fitness industry suppliers in the economic stimulus package.
Winnebago To Temporarily Suspend Production Because Of Coronavirus
Winnebago Industries Inc. on Monday announced it will be temporarily suspending most production activities at the company’s Winnebago, Grand Design RV, Newmar and Chris-Craft facilities in response to the national spread of the coronavirus.
Gildan Activewear Provides Update Related To COVID-19
Gildan Activewear Inc. provided an update in response to the impact of the coronavirus pandemic (COVID-19) on its business and operations.
VF Corp. Withdraws Guidance, Draws Down $1 Billion From Credit Facility
VF Corp. said it has drawn down $1 billion from its revolving credit facility “in an abundance of caution and as a proactive, precautionary measure” in response to the coronavirus. The company also withdrew its guidance for 2020.
International Olympic Committee Considers Postponing Tokyo Games
The International Olympic Committee (IOC) on Sunday said it is considering postponing the Tokyo 2020 Games and would make a final decision within four weeks.
Igloo Pledges Profits To Coronavirus Response Fund
Igloo has announced they will be donating 100 percent profits from all Playmate coolers sold on Igloocoolers.com over the course of the next 30 days to the CDC Foundation Coronavirus Response Fund.
A&G Realty Partners Begins Marketing Of 137 Modell’s Store Leases
A&G Real Estate Partners (A&G) has begun marketing 137 Modell’s Sporting Goods store leases in nine Northeastern and Mid-Atlantic states and the District of Columbia in connection with the 111-year-old retailer’s voluntary Chapter 11 bankruptcy filing and liquidation.
Peloton Suspends Treadmill Sales, Deliveries Amid Spread Of Coronavirus
Peloton announced that it will temporarily suspend the sale and delivery of Tread, its treadmill, because the size of the machine is too large to deliver to customers who are social distancing amid the coronavirus pandemic.
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