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.
Author: SGB Media
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Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, said in a regulatory statement it has withdrawn its guidance for 2020 and increased borrowings under its credit facility due to the “unprecedented uncertainty” caused by the coronavirus pandemic.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.
Outdoor Industry’s Signature Event Finally Called Off
Outdoor Retailer ended weeks of speculation Thursday afternoon when it finally pulled the plug on Summer Market in response to the coronavirus pandemic, which is ravaging U.S. business activity, including the cancellations of large gatherings like trade shows. OR will now pivot to a digital format, as other events have done in response to the crisis.
Aisle Talk Week Of March 30, 2020
Top National Stories and the Latest Headlines From SGB Updates across the Active Lifestyle Market during the week of March 30, 2020.
Under Armour Announces COVID-19 Actions, Details 2020 Restructuring Plan
Under Armour Inc. announced actions it is taking to address the financial impact of the COVID-19 pandemic. Additionally, the company’s Board of Directors has approved a previously planned restructuring initiative designed to rebalance its cost base to further improve future profitability and cash flow generation.
Shoe Carnival Extends Store Closures, Moves To Preserve Liquidity
Shoe Carnival Inc. announced it would be extending its store closures until further notice. It’s also taken a number of actions to preserve cash and liquidity.
Ironman Announces Technogym As Official Global Fitness Equipment Partner
The partnership will debut with the recently announced Ironman Virtual Racing (VR) Series. The partnership will also include Technogym’s involvement with the 2020 Ironman World Championship in Kailua-Kona, Hawai’i, as well as the 2020 Ironman 70.3 World Championship in Taupō, New Zealand, scheduled for October and November, respectively.
Fanatics Partners With New England Patriots
The New England Patriots and Fanatics announced a 10-year e-commerce partnership that will have Fanatics operate the online and mobile retail merchandise business for the six-time Super Bowl champions. The team will continue to operate their Patriots Pro Shop stores at Gillette Stadium and Patriot Place.
Puma SE To Suspend Dividend Payment
Puma SE said it is suspending dividend payment, as well as reducing expenses and securing additional financing, as the coronavirus pandemic has caused a “major decline in net sales and cash inflow.”
CODI Issues COVID-19 Update
Compass Diversified Holdings (CODI), the parent of 5.11 Tactical, Velocity Outdoor and Liberty Safe, in a letter to shareholders, said it has a detailed crisis preparedness plan in place and “sufficient liquidity” to manage during the COVID-19 pandemic.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal