PeopleForBikes reported that 60 bike businesses have joined the industry coalition as new members since the organization merged with the Bicycle Product Suppliers Association (BPSA) in 2019.
Category: Apparel
Patagonia Sees Stores Opening In June At The Earliest
Patagonia does not anticipate opening any locations for in-store shopping until June, at the earliest, and it’s prepared to wait until the fall, or even early winter, according to a report in the New York Times.
Iconix’s Q1 Revenues Slump 22 Percent
Iconix Brand Group, the parent of Starter, Danskin and a number of other fashion and active brands, reported a loss after impairment charges in the first quarter on a 22 percent sales decline due, in part, to pressures from COVID-19. Iconix said it signed 41 license deals during 2020 and is making progress in improving its cost structure.
TJX Cos. Begins Reopening Stores
TJX Cos., the parent of TJ Maxx, Marshalls and Sierra, has started to reopen stores with a focus on safety. Associates are being required to wear face masks and social distancing work practices are being implemented.
Russell Athletic Expands “Hope for Hospitals” Initiative
Russell Athletic is further expanding its Hope for Hospitals initiative by dedicating up to $700,000 of product donations for the duration of the campaign.
Fleet Feet Celebrates Global Running Day With Nationwide Virtual Running Event
With physical distancing precautions still in place across the country, Fleet Feet announced its fourth annual Global Running Day event. The Big Run will take place virtually this year. Shifting names to My Big Run, the June 3 Global Running Day initiative will take place in partnership with Brooks.
Survey Finds Runners Hesitant To Return To Running In Groups
According to a survey of runners from the Road Runners Club of America (RRCA), 60 percent are comfortable running with five or fewer people once a return to larger group running is permitted. Fifty-one percent are comfortable with 10 or fewer runners, but the percentage of comfort drops significantly when group runs start to see 20 or more participants.
MLB Proposes 82-Game Season Starting In July
Major League Baseball agreed on a proposal for an 82-game season that would start without fans in early July.
Outerstuff’s Debt Rating Lowered
Moody’s Investors Service lowered the debt ratings of Outerstuff LLC, the supplier of branded youth apparel for the major sports leagues. The downgrade reflects Outerstuff’s missed term loan principal and interest payments that were due March 28, 2020, and it enters into a forbearance agreement with term loan lenders on April 6, 2020.
Hanesbrands CEO Plans To Serve As Consultant In 2021
Hanesbrands Inc. announced that Gerald Evans Jr. will stay on as a consultant for a year after he retires as CEO at the close of this fiscal year.
Arc’teryx Equipment Appoints Katie Becker As First VP Creative
Arc’teryx Equipment has named Katie Becker as the brand’s first VP creative. Becker joins Arc’teryx after a 12 plus year career with Adidas, where she recently served as senior global design director.
Nike Tops Stage Stores’ Unsecured Creditors List
Nike Inc. was left with the largest unsecured claim in the bankruptcy filing of Stage Stores. Skechers, Adidas and Columbia Sportswear were also among the Top 20 unsecured creditors.
Report: Penney Bankruptcy Possible This Week
J.C. Penney is preparing to file for bankruptcy and plans to close about 200 of its 850 locations, Reuters reported.
Study Finds Shoppers Still Don’t Feel Safe Trying On Apparel In Stores
As stores reopen across the country, a recent study by First Insight found that the majority of consumers (54 percent) are ready to buy apparel in-store, followed by home improvement (36 percent) and footwear (32 percent).
Under Armour’s Q1 Revenues Tumble 23 Percent
Under Armour, Inc. reported sales fell 23 percent in the first quarter with approximately 15 percentage points of the decline related to COVID-19. The loss came to $589.7 million after restructuring charges in the first quarter, and the loss before charges was below Wall Street’s target.
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