VF Corp. announced the appointment of Nina Flood as president, Eastpak, effective April 1.
Author: SGB Media
Chinese Government Bans Resuming Team Sports
China reportedly issued an order restricting the resumption of team sports on Tuesday just weeks after the Chinese Basketball Association (CBA) sent a memo announcing plans to resume play in early April.
Academy Sports Remains Open For Business
Academy Sports + Outdoors said in a letter to customers that almost all of its stores and all three of its DCs remain open for business. The retailer said it has been determined to be an essential retailer by several CISA sector standards in part because the retailer’s products are used to counter severe weather season in the southwest region.
Under Armour’s Debt Ratings Downgraded
Moody’s said the downgrade and negative outlook reflect Under Armour’s weak operating performance related to the challenges it is facing in reinvigorating growth in its core North American market and the compounding effects of the unprecedented disruption caused by the rapid global spread of the coronavirus.
Hoka One One Signs Jan Frodeno
Hoka One One, a division of Deckers Brands, signed a multi-year sponsorship deal with Jan Frodeno, Olympic champion and three-time winner of the Ironman World Championship in Kona.
Sierra Bullets Welcomes Matt Ohlson As VP Industrial Sales
Sierra Bullets announced that Matt Ohlson has appointed vice president, industrial sales.
Helen Of Troy Provides COVID-19 Update
Helen of Troy, the parent of Hydro Flask, said its executive leadership team is taking temporary salary reductions and it’s introducing cost-containment efforts in response to the impact of COVID-19 on the current business environment. Borrowings were also increased under its credit line.
PVH Posts Q4 Beat But Coronavirus Poses ‘Significant’ Impact In 2020
PVH Corp. reported non-GAAP earnings per share for the fourth quarter of $1.88, topping Wall Street’s estimates by 7 cents. Q4 revenue of $2.6 billion beat expectations by $140 million. PVH, like most public companies, withdrew guidance for 2020 due to the coronavirus.
Adidas Revokes Decision To Withhold Rent Payments In Germany
Adidas apologized Wednesday for saying it would defer paying rent for stores in Germany that were forced to close by coronavirus lockdowns after facing wide criticism on social media.
Wimbledon Tennis Tournament Canceled Amid Coronavirus Pandemic
Wimbledon tennis championships, due to begin on June 29, have been canceled by organizers because of the ongoing coronavirus outbreak. The move marks the first cancellation of the event since World War II.
L.L.Bean CEO Calls On Federal Government To Assist Middle-Market Retailers
In an interview on CNBC, L.L.Bean CEO Stephen Smith contended that the recently passed $2 trillion stimulus package does not address “middle market retail” companies such as his.
Vail Resorts Announces Furloughs, Salary Reductions, Capex Deferrals
Vail Resorts Inc. provided an update on its response to the evolving impact of COVID-19 on its business, including expense control measures such as furloughing some hourly employees, reducing some salaries and reducing capital expenditures by $85 million.
Firearms Background Checks Surge 41 Percent In March
The FBI completed 3.7 million gun background checks in March, up 41 percent from March 2019 and the highest monthly total since the National Instant Criminal Background Check System (NICS) began in 1998.
Thule Warns Of ‘Material Financial Impact’ To Business In 2020
Thule Group AB, in a statement released today, that the “rapidly developing global situation related to the coronavirus has led to a more negative view of the effects on the business, with the conclusion that there will be a material financial impact in 2020.”
March M&A Roundup: Public Companies Make Moves Before Deals Dry Up
Three public companies—Compass Diversified Holdings, Sportsman’s Warehouse Holdings Inc. and Clarus Corp.—announced key acquisitions last month before the coronavirus all but stopped M&A activity. Most of the transactions that were announced came in the first half of March before social distancing took hold, the stock market collapsed, and businesses began shuttering operations and laying off employees.
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