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.,

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.

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.