Stio, the Jackson Hole-based outdoor apparel brand, hired Gena Calegari as its senior sourcing and production manager. Calegari was most recently the global production of maternity and plus at Old Navy.
Author: SGB Media
HanesBrands’ Q1 Sales Drop 17 Percent
HanesBrands Inc. the parent of Hanes and Champion, reported earnings tumbled 77.3 percent in the first quarter as sales declined 17.0 percent. The company estimated that COVID-19 reduced GAAP and adjusted results by $181 million in net sales, $86 million in operating profit, and 20 cents per share in EPS.
How COVID-19 Is Impacting The Outdoor Recreation Industry
The outdoor recreation industry is facing dramatically decreased sales and revenue, difficulties with production and distribution, and large numbers of furloughs and layoffs due to the coronavirus, according to member survey from the Outdoor Recreation Roundtable (ORR).
Winchester’s Q1 Revenues Climb 20 Percent
Olin Corp. reported sales in its Winchester firearms segment were $188.0 million for the first quarter compared to $157.2 million in the first quarter 2019, representing a gain of 19.6 percent. The increase in sales was primarily due to higher commercial and military sales.
Gildan Activewear Posts Q1 Loss After Charges
Gildan Activewear reported a net loss of $99.3 million, or 50 cents per share, in the first quarter after after-tax charges of approximately $110 million, or 56 cents per share. Excluding charges, adjusted earnings were down 65.9 percent as sales dropped 26.4 percent.
NCAA Outlines Plan To Let Athletes Make Endorsement Deals
The NCAA’s Board of Governors announced that it had approved recommendations under which student-athletes could receive income for third-party endorsements, as well as social media opportunities, other business ventures and personal appearances that fall within certain guidelines.
Wolverine World Wide’s Debt Ratings Lowered
S&P Global Ratings lowered the debt ratings of Wolverine World Wide Inc. because it expects the footwear company’s revenue and profitability will be significantly impaired by lower consumer demand in the U.S. and retail store closures related to measures taken to contain the spread of the COVID-19 pandemic.
Beachbody Tops Two Million Subscribers Amid Surge In Fitness Streaming
As the coronavirus has closed gyms and kept people working out at home, Beachbody announced that its Beachbody On Demand streaming platform has surpassed two million subscribers.
NFL And Amazon Renew, Expand Streaming Partnership
The National Football League (NFL) and Amazon announced they have reached a multi-year agreement to renew their exclusive partnership to deliver a live digital stream of Thursday Night Football.
Escalade Repays $5.6 Million PPP Loan In Full
Escalade Inc., a maker of a wide range of sporting goods, announced that it repaid its outstanding loan of $5,627,500 million received from the Paycheck Protection Program.
Soccer Parents See Soccer Returning This Summer
A survey of youth soccer parents from Soccer.com, the nation’s leading soccer-specialty retailer, finds 81 percent expect youth soccer to resume in their area by August 2020. Of those, 61 percent believe youth soccer will resume in their area by July 2020.
Varsity Spirit And CaptainU Announce Partnership
Varsity Spirit, a division of Varsity Brands, announced a partnership with CaptainU, a self-managed recruiting software tool that connects high school athletes and college coaches across the country.
New Study Finds Exercise Helps Reduce Chronic Health Conditions
A study from Blue Cross Blue Shield Association (BCBSA) found individuals who consistently exercise see an 8 percent reduction in serious chronic health conditions like diabetes, a high-risk condition identified by the CDC that can lead to more serious outcomes from COVID-19.
Callaway Golf To Offer $200MM In Convertible Senior Notes
Callaway Golf said it is planning to offer $200 million in convertible senior notes that mature in 2026.
Rocky Brands Leans On Essential Businesses, E-Commerce In Q1
Two-thirds of Rocky Brands Inc.’s wholesale partners have been deemed essential during the coronavirus crisis, while the company’s own e-commerce channel has seen a spike in sales, both of which helped the company navigate an otherwise difficult first quarter.
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