Kathmandu Holdings Ltd said its New Zealand retail stores and distribution centers were closed on March 24 and is in the process of closing its Australian stores as a result of the coronavirus. The company also introduced a number of steps to conserve liquidity and streamline the business in the current environment.
Author: SGB Media
Modell’s Bankruptcy Suspended Due To Coronavirus
Modell’s Sporting Goods’s bankruptcy proceedings were suspended until April 30 after COVID-19 restrictions temporarily shuttered stores to prevent going-out-of-business sales.
Li-Ning’s Sales Expand 32 Percent In 2019
Li-Ning reported net earnings vaulted 110 percent in its year ended December 31 as revenues increased 32 percent.
Under Armour Draws Down Revolver
Under Armour said in a regulatory filing that it borrowed $700 million under its credit facility as a precautionary measure in order to increase its cash position and preserve liquidity given the uncertainty in global markets resulting from the COVID-19 outbreak.
Montane Appoints Andy Towne As Chair Of Board
Montane, European specialist brand of outdoor apparel and equipment, announced the appointment of Andy Towne as Chair of its Board of Directors on March 20, 2020.
Aisle Talk Week Of March 23, 2020
Top National Stories and the Latest Headlines From SGB Updates across the Active Lifestyle Market during the week of March 23, 2020.
March 27 Coronavirus Notebook: Crisis Brings Out The Best In Brands
For this latest installment of the Coronavirus Notebook, SGB Executive looks at the myriad contributions from brands across the active-lifestyle marketplace in response to the COVID-19 pandemic, including pivoting production lines to make personal protective equipment, providing gear for first responders and making cash donations.
Sportsman’s Warehouse On A Roll, But Uncertainty Brewing
A savvy combination of opportunistic and strategic moves fueled Sportsman’s Warehouse Holdings Inc. in the fourth quarter and should bolster the company as the coronavirus crisis escalates. But like most retailers, uncertainty related to the COVID-19 outbreak has tempered the company’s expectations for this quarter and beyond.
Addaday Hires Marketing and Communications Chiefs
Addaday, the manufacturer of injury prevention and recovery technology, announced the appointment of Hugh Williams as CMO and Kristin Goett as Communications Director.
OutDoor By ISPO 2020 Is Canceled
Outdoor By ISPO issued the following statement today: “Due to the spread of the coronavirus and following the recommendation of the Bavarian State Government and the competent health authorities, Messe München is compelled to cancel OutDoor by ISPO 2020.
Golf Rounds Played Surge In February
Golf rounds played vaulted 19.1 in February, according to Golf Datatech. The biggest gains were seen in East North Central, New England, Mid Atlantic and West North Central.
Ross Stores To Cancel Orders Through Mid-June
Ross Stores in a letter to vendors on Thursday said it would cancel all merchandise purchase orders through June 18 as a result of the impact of the coronavirus on sales.
City Of Fresno Declares Sporting Goods Essential Retail
Sporting goods stores in Fresno, CA have been allowed to reopen as essential businesses, city leaders announced. Officials said many of the stores sell essential items including food, water, emergency supplies, ice, food storage, propane, and cooking supplies.
Lululemon’s Q4 Earnings Top Estimates On Online Sales Surge
Lululemon Athletica Inc. reported net earnings rose 36.4 percent and slightly exceeded Wall Street’s targets. Same-store sales soared 20 percent, lifted by a 41 percent hike in online sales. The retailer joined other companies in not providing a forecast for the current fiscal year due to the coronavirus.
Acquisitions, Firearms, E-Commerce Fuel Sportsman’s Warehouse In Q4
Sportsman’s Warehouse Holdings Inc. reported net sales for the fiscal fourth quarter of $258.2 million, up 6.4 percent from $242.7 million in the prior-year quarter. The net sales increase was primarily due to a strong performance from eight acquired stores, momentum in the firearm and ammunition categories in January and growth in its e-commerce business.
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