The ongoing evolution of VF Corp.—which began in 2017 and was elevated last year through several measures—has the Denver, CO-based well-positioned during this ongoing pandemic. CEO Steve Rendle and CFO Scott Roe discussed VF’s playbook for getting the company back on track after a hard-hit Q4.
Author: SGB Media
April Retail Sales Drop Nearly Twice As Much As March
Retail sales dropped almost twice as much during April as they did in March as the nation’s economy saw its first full month when most businesses were closed because of the coronavirus pandemic, the National Retail Federation said today.
Aisle Talk Week of May 11, 2020
Top National Stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market during the week of May 11, 2020.
Sequential Brands Group Sales Plummet 20 Percent In Q1
Sequential Brands Group Inc., the New York, NY-based parent of Avia, And1 and Gaiam, reported first-quarter revenue from continuing operations of $20.2 million, down 20.7 percent from the same period last year.
VF Corp.’s Q4 Sales Sink 11 Percent
VF Corp. reported revenue in the fourth quarter ended March 31 decreased 11 percent on a reported basis and fell 10 percent in constant dollars. Among key brands, currency-neutral sales were down 6 percent at Vans, 13 percent at The North Face, 18 percent at Timberland, and 2 percent at Dickies. Companywide sales and adjusted earnings both missed Wall Street’s targets.
University Of Akron Cutting Three Athletics Programs
The University of Akron said it is eliminating men’s golf, women’s tennis and men’s cross country as part of a plan to reduce 23 percent of its athletics budget.
Olin Announces Pricing Of Private Offering Of Senior Notes
Olin Corp., the parent of Winchester, announced the pricing of its previously announced private offering of $500 million aggregate principal amount of 9.5 percent senior notes due 2025.
Nike Partners With The University Of Indianapolis
The University of Indianapolis athletics department entered into a multi-year partnership with Nike through BSN Sports. The agreement, which will commence on July 1 is part of BSN Sports’ Collegiate Select program.
Columbia Sportswear To Reopen 30 U.S. Stores With An Eye On Safety And Helping Communities
Columbia Sportswear Co. will reopen 30 Columbia branded stores in ten states on Friday, May 15, 2020, bringing back more than 250 of its furloughed retail workers.
Yue Yuen Q1 Revenues Slump 20.6 Percent
Yue Yuen Industrial (Holdings) Limited, the largest sports footwear manufacturer, recorded revenue of $1.97 billion in the three months ended March 31, representing a decrease of 20.6 percent compared to revenue of $2.48 billion recorded in the same period of 2019.
Technogym’s Q1 Revenues Dropped 11.2 Percent
Technogym recorded a contraction in consolidated revenues of 11.2 percent during the first three months of 2020 compared to the same period in 2019. At constant exchange rates, sales were down 11.9 percent.
Asics Ventures Invests In Israeli Synthetic Spidersilk Startup
Asics Corp. announced that its investment subsidiary, Asics Ventures Corporation, has invested in Seevix Material Sciences Ltd., which was founded in 2014 following over a decade of academic research at the Hebrew University.
Adidas Launches #HOMETEAMHERO Challenge
Adidas plans to launch a virtual sporting event, the #HOMETEAMHERO Challenge, to support essential workers. From May 29 to June 7, for every hour of tracked activity, Adidas will donate $1 to the COVID-19 Solidarity Response Fund for the World Health Organization (WHO), with the goal of reaching one million hours.
The Buckle Converts Annual Meeting To Virtual
The Buckle Inc. announced a change in the format of its 2020 Annual Meeting of Stockholders from in-person to virtual-only.
Nike Provides COVID-19 Update On Operations
Nike released an update on the company’s operations in light of the coronavirus, including where stores have reopened and the slowing of product shipments to wholesale customers.
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