Lord & Taylor is reportedly preparing to liquidate its stores as soon as they reopen, according to a report from Reuters.
Category: Apparel

Umbro To Sponsor England Rugby
Umbro will replace Canterbury as the kit supplier for England’s rugby team on September 1 under a four-year deal.

Kathmandu’s Online Sales Surge
Kathmandu, the New Zealand-based outdoor chain and owner of Oboz and Rip Curl, reported online sales increased nearly three-fold in April while announcing plans for a staged reopening of physical stores, with a focus on employee and customer safety. The company also said a successful equity raising and cost reduction efforts have solidified its financial position.

TIA Survey Highlights Challenges For Tennis Retailers
According to a survey from the TIA (Tennis Industry Association) of professional and specialty tennis retailers in the United States, steep sales declines were expected for March and April. Nearly 90 percent of the respondents’ stores were closed when the survey was taken.

Road Runner Sports To Host A Virtual Race
Road Runner Sports has partnered with Stride, the boutique fitness franchise that offers treadmill-based cardio and strength workouts, to host a national virtual race on June 3, which is Global Running Day.

Duluth Holdings Starts To Re-Open Stores
Duluth Holdings Inc. said it re-opened 20 retail stores on Monday where COVID-19 restrictions have been lifted and is preparing to re-open the balance as other states lift their pandemic mandates. The apparel company also announced steps to shore up its liquidity.,

Compass Diversified Holdings Announces Common Share Offering
Compass Diversified Holdings commenced a public offering of 5 million common shares, with a 30-day option for the underwriters to purchase up to an additional 750,000 common shares.

Topgolf’s Debt Rating Downgraded
Moody’s downgraded the debt ratings of Topgolf International over concerns that the coronavirus outbreak will hamper its ability to operate its venues until the spread of the virus subsides.

Puma Close To Signing Raheem Sterling
Puma is reportedly close to signing Raheem Sterling, the Manchester City soccer star, to a record-breaking endorsement to become the face of the brand’s soccer strategy. Sterling is currently with Nike.

Wanda Sports’ Revenues Slide In 2019, Warns On COVID-19 Impact
Wanda Sports Group Co., the China-based owner of Ironman, the Rock ’n’ Roll Marathon series, Cape Epic mountain biking event, reported total revenue was €1.03 billion (US$1,156.5 million) in 2019, a decrease of 9 percent compared with 2018. The company also warned that by April 2020, substantially all of its sports events had been canceled or postponed “and it is currently unclear when these sport events will resume.”

J. Crew Files For Chapter 11 Bankruptcy
J. Crew Group Inc., as expected, on Monday filed for Chapter 11 bankruptcy protection in federal bankruptcy court in the Eastern District of Virginia. The retailer said it had reached a deal with its lenders to convert about $1.65 billion of debt into equity.

Trump Threatens New China Tariffs
President Donald Trump threatened to impose further tariffs to punish China for its handling of the pandemic.

Adidas Countersues Louisville Basketball Recruit’s Father
Adidas filed a counter-lawsuit against former five-star recruit Brian Bowen II’s father, a former grassroots consultant and a financial advisor. The suit charges the three worked with Adidas employees to funnel money to the families of high school basketball prospects while evading detection by others in the company.

New Balance Donates To Hope For The Warriors
New Balance made a $35,000 donation to Hope For The Warriors to fund sports programming for children of military service members in honor of Armed Forces Day.

Eighty Percent Of Golf Courses Expected To Be Open By May 3
Fifty-eight percent of golf courses in the U.S. were open for play in the week ended April 26 with 80 percent expected to be open by May 3, according to the National Golf Foundation’s most recent COVID-19 survey.