Denver, CO-based ski resort owner and operator Alterra Mountain Co. has enacted a series of measures from layoffs to pay cuts to reducing capital expenditures as an aggressive reaction to “zero revenue for the foreseeable future,” CEO Rusty Gregory told employees in a companywide email sent over the weekend.
Author: SGB Media
The North Face Commits $1 Million In Grants To COVID-19 Recovery Efforts
The North Face announced it will join in the fight against the COVID-19 pandemic with the donation of $1 million in grants through its social advocacy platform, The Explore Fund, as well as the donation of 60,000 gloves to U.S. healthcare professionals and first responders.
Authentic Brands’ Debt Ratings Downgraded
Authentic Brands, which owns a portfolio of over 50 brands that include Spyder, Tretorn, Tapout, Prince and Volcom, had its debt rating downgraded and outlook reduced by Moody’s Investors Service due to disruptions caused by the coronavirus.
April 6 Coronavirus Notebook: Who Else Is ‘Winning’ During Crisis?
For this latest installment of the Coronavirus Notebook, SGB Executive looks at more “winners” that have emerged during the COVID-19 pandemic—including a water filtration and purification brand—plus a recap of our recent coronavirus coverage in case you missed it.
BSN Sports Steps-Up To Help Coaches And Athletic Directors
BSN Sports, a division of Varsity Brands, announced a series of initiatives to allow coaches and athletic directors across the country to remain connected to and engaged with their teams during the coronavirus outbreak and resulting school closures. The digital offerings are being offered free of charge.
PVH Completes Sale Of Speedo North America Business To Pentland Group
PVH Corp. completed the sale of its Speedo North America business to Pentland Group, the parent company of the Speedo brand, for $170 million in cash, subject to a working capital adjustment.
Nike Announces Additional Round Of COVID-19 Donations
Nike Inc. will provide an additional $1.6 million to help local organizations meet immediate needs, such as food assistance and medical care, in key cities and communities around the world where its employees live and work.
Genesco Takes Steps In Response To COVID-19
Genesco Inc., the parent of Journeys, announced additional proactive steps in its efforts to significantly reduce expense, capital and inventory levels to mitigate the negative financial and operational impacts of COVID-19 and improve liquidity.
Survey Explores How COVID-19 Crisis Is Shaking Up Cities Hosting Major Sports Events
Global communications agency BCW (Burson Cohn & Wolfe) released results of a new survey focused on the impact of COVID-19 on cities hosting major sporting events. The key findings revealed that the current situation and disruption in the international sports event market by the COVID-19 virus will likely lead to significant strategic adjustments for many cities significantly involved in event hosting.
NRA Sues New York Over Deeming Gun Stores ‘Non-Essential’
The National Rifle Association of America (NRA) is suing New York for shuttering gun stores amidst the ongoing coronavirus outbreak.
Acushnet Withdraws Guidance Due To Coronavirus Disruption
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, said in a regulatory statement it has withdrawn its guidance for 2020 and increased borrowings under its credit facility due to the “unprecedented uncertainty” caused by the coronavirus pandemic.
Herff Jones To Launch New Virtual Commencement Platform
Herff Jones, a division of Varsity Brands and provider of graduation and educational products, announced an exclusive collaboration with MarchingOrder and StageClip on a virtual commencement solution.
Trek Bicycle Launches Free Home Delivery
Trek Bicycle is launching free home delivery throughout the continental U.S. for online bike orders through May 1, 2020 in response to the COVID-19 pandemic.
Nordstrom Appoints Two New Board Members
Nordstrom Inc. announced the appointment of two new members to its Board of Directors: Jim Donald, co-chairman of Albertsons Companies, Inc., and Mark J. Tritton, president and chief executive officer of Bed Bath & Beyond.
ClassPass Lets Go 53 Percent Of Employees
ClassPass, the fitness membership subscription service, is reducing its staff by 53 percent of its staff, with 22 percent laid off and 31 percent furloughed, according to CNBC.
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