Online sales could get a significant bump as Americans head indoors and avoid stores to help stop the spread of coronavirus but supply chain issues, out-of-stocks and eroding consumer confidence may hold back some gains.
Author: SGB Media
Wolverine Worldwide Provides Business Update Related To Covid-19
Wolverine World Wide Inc. on Thursday provided a business update to highlight the company’s strong liquidity, supply chain stability, and agile business model in light of the challenging environment currently caused by the spread of Covid-19.
Wedge Brands LLC Announces Acquisition Of Xcel Wetsuits And ZG Holdings LLC
Wedge Brands LLC, a new company formed between a group of Colorado outdoor enthusiasts and a contingent of passionate surfers in Southern California, in addition to The Pearl Fund, announced the acquisition of Xcel Wetsuits and ZG Holdings LLC’s assets and brand portfolio.
Creature Comforts: Burgeoning Ski Category Addresses Foot Pain
A burgeoning ski category includes three relative newcomers—Dahu Boots, Envy Snow Sports and Mad Jack Snowsports—plus a longtime player, all of whom aim to remove foot pain by making more comfortable boot systems. SGB Executive breaks down their efforts to bring more people to the sport and keep them on the slopes for longer.
NSAA Cancels National Convention And Tradeshow
Due to the coronavirus outbreak, the National Ski Areas Association (NSAA) has canceled its National Convention and Tradeshow scheduled for early May in Florida.
Adidas Postpones 2020 Annual General Meeting
In accordance with orders issued by the relevant German authorities, which include a ban of large meetings in order to contain the further spreading of coronavirus, Adidas AG has decided to postpone this year’s annual general meeting until further notice.
SportChek Faces Temporary Closings On Coronavirus Measures
Canadian Tire Corp. announced that in response to the growing concern surrounding COVID-19, it will reduce operating hours at Canadian Tire Retail and temporarily close its other retail stores, including Mark’s/L’Équipeur, SportChek, Atmosphere, Party City, Pro Hockey Life, National Sports and PartSource.
Duluth Trading Delivers 7 Percent Comp Gain In Q4
Duluth Holdings Inc., the parent of Duluth Trading, reported fourth-quarter earnings rose 18.4 percent due to strong expense controls and a 7 percent gain in comparable-store sales.
G-III Apparel’s Adjusted Earnings Climb In Q4
G-III Apparel Group, Ltd. reported a strong gain in earnings on an adjusted basis in the fourth quarter ended January 31 despite a 1.6 percent dip in revenues. The company, a major supplier of fan apparel, is not providing guidance for the year due to the coronavirus outbreak.
Dick’s To Close For Two Weeks
Ed Stack, Dick’s Sporting Goods’ CEO, announced that the retailer will close its locations from March 19 until April 2 “in support of the nation’s efforts to stop the spread of COVID-19.” In a regulatory filing, Dick’s also said it has experienced a “significant reduction in customer traffic and demand” since March 10 and was withdrawing its guidance for the year.
National Park Service To Waive Entrance Fees At Open Parks
The National Park Service (NPS) on Wednesday temporarily suspended the collection of all park entrance fees until further notice to aid social distancing. The suspension comes a day after the office closed a number of parks to address over-crowding situations.
Gregory Notches 21 Percent Growth In 2019
Samsonite International reported 2019 currency-neutral sales for the Gregory brand of $69.8 million, up 21 percent from the prior year and driven by continued strong growth in Asia (24.2 percent), North America (10.1 percent) and Europe (37.1 percent).
Baden Sports Announces New CEO, COO
Baden Sports’ board of directors announced it has appointed Jake Licht as president and CEO, and Casey Schindler as executive vice president and COO. The promotions elevate the company’s third generation of family leadership following the unexpected passing of longtime CEO Michael J. Schindler, the son of Baden founder E.C. Schindler, on Februray 19.
Zumiez Inc. Closes Stores, Withdraws Guidance
Zumiez Inc. on Wednesday announced business updates in response to the continued impact from the novel coronavirus (Covid-19).
Vail Resorts Projects Up To $200 Million Negative Impact From The Coronavirus
Vail Resorts Inc. provided updated commentary on its fiscal 2020 results and the evolving impact of Covid-19 on its business and results of operations. The company projects its operating results for March and April will have a negative impact of $180 million to $200 million compared to the resort reported EBITDA the company had as of March 1.
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