The Buckle Inc. announced Monday that it will furlough the majority of its employees effective April 5, and will extend the closure of all brick & mortar stores indefinitely.
Author: SGB Media
Adidas Ends Share Buyback Program For Rest Of 2020
Adidas AG announced that, due to the coronavirus, it would formally stop the repurchasing of Adidas shares for the remainder of the year.
Skirt Sports Exploring Sale
Skirt Sports, the Boulder-based women’s running apparel brand, has retained Bell Lap Advisors, the M&A advisory firm, to explore new ownership.
G-III Apparel Undergoes Furloughs, Reduces Exec Salaries
G-III Apparel Group Ltd. said that in response to the COVID-19 outbreak, it will be furloughing approximately 60 percent of its wholesale operations segment, effective April 6, 2020.
Asics Opens Access To Asics Studio Workout App
Asics has opened access to the Asics Studio at-home workout app to anyone free of charge as part of its response to COVID-19.
NPD: Athletic Footwear Sales Tumble In Week Ending March 21
Athletic footwear sales were down 65 percent in the week ending March 21, according to The NPD Group. Sport lifestyle and skate, the categories that were trending the best before the pandemic, also each declined by more than 60 percent.
J.C. Penney Furloughs Majority of Employees, Extends Store Closures
J.C. Penney Co. announced it will extend the temporary closure of its stores and business offices due to the coronavirus As a result of its store closures, J.C. Penney said it would temporarily furlough the majority of store hourly associates beginning April 2.
Goal Zero’s Demand Soars Amid Coronavirus
Goal Zero is one company that has seen a surge in demand for its products amid the coronavirus pandemic. SGB Executive looks at the drivers behind these the portable power brand’s soaring sales and the supply chain challenges it’s overcoming.
Dick’s Sporting Goods Amends Credit Line
Dick’s Sporting Goods amends the company’s senior secured revolving credit facility arrangement to have $2.1 billion in aggregate commitments, up from a prior level of $1.6 billion.
Under Armour Shareholder Lawsuit Over Port Covington Land Purchase Dismissed
A federal court in Maryland dismissed a shareholders lawsuit against Under Armour and its founder, Kevin Plank, over the acquisition of land in Baltimore’s Port Covington area for its new headquarters.
Bass Pro’s Debt Ratings Outlook Lowered To Negative
Moody’s changed its debt rating of Bass Pro Group, L.L.C. to negative from stable. The change in outlook to negative from stable reflects the risk that Bass Pro’s credit metrics may weaken on a sustained basis as a result of recessionary conditions and declines in discretionary consumer spending.
Yue Yuen’s Revenues Expand 4.2 Percent In 2019
Yue Yuen Industrial (Holdings) Ltd. recorded revenue of $10,105.4 million in 2019, representing an increase of 4.2 percent, compared with the previous year. Profit attributable to owners of the company declined by 2.1 percent to $300.5 million, as compared to $307.1 million recorded for the previous year.
Crocs Amends Credit Facility, Suspends Share Buybacks
Crocs amended its revolving credit facility and suspended share repurchases to preserve maximum liquidity and flexibility amid the COVID-19 pandemic. The company also said its retail stores in North America will remain closed until further notice.
Escalade Appoints New President & CEO
Escalade Inc., a maker of a wide range of sporting goods, announced the appointment of Scott Sincerbeaux as the organization’s next president and chief executive officer. Sincerbeaux joins Escalade from Wolverine World Wide, Inc., where he held several positions including president of The Stride Rite Children’s Group, president of direct to consumer and president of global retail.
Saucony Run For Good Foundation Marks 15th Anniversary
Saucony marks the 15th anniversary of the brand’s Saucony Run for Good Foundation with the announcement of a new round of grant winners. Established in 2006, the Foundation has awarded more than $1.5 million dollars in grants to 180 schools and community organizations all dedicated to preventing childhood obesity through running and proper nutrition.
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