Delta Apparel said it expects to see a 6 percent decline in sales in its fiscal second quarter ended March 28. Prior to the March impact of COVID-19, the company was on pace to achieve sales growth of approximately 9 percent for the quarter.
Category: Apparel
Bench Sold To Wraith
Bench, the British streetwear brand, has been sold to Wraith, the brand’s primary European licensee.
FESI Survey Finds Significant COVID-19 Impact On European Sporting Goods Market
A survey from The Federation of the European Sporting Goods Industry (FESI) of its members found 45 percent of the companies declaring a loss of turnover ranging between 50 percent and 90 percent since the beginning of the COVID-19 crisis.
Stage Stores Seeks Vendors’ Support To Skirt Bankruptcy
Stage Stores Inc. is counting on leeway from vendors to help it avert a bankruptcy filing, according to a report from Reuters.
PGA Tour Announces Mid-June Return In Texas
The PGA Tour announced that it would resume its season in mid-June with a tournament in Fort Worth without spectators.
USTA Pledges $50 Million To Support U.S. Tennis
The United States Tennis Association (USTA) is set to commit more than $50 million in spending to support its sport’s ecosystem, over a multi-year, multi-phase plan response to the expected financial impact generated by the coronavirus pandemic.
Fanatics’ Founder Launches ALL IN Challenge
Fanatics Founder and Executive Chairman Michael Rubin, shown above, launched the ALL IN Challenge, which aims to be the largest digital fundraising movement ever with a goal of raising tens of millions of dollars or more to feed those in need during the COVID-19 crisis and beyond.
VF Corp.’s Dickies Brand To Make 3.4 Million Isolation Gowns For Health Care Workers
Dickies, in partnership with its parent company, VF Corp., announced that it is further supporting the fight against COVID-19 in the U.S. by manufacturing FDA-compliant isolation gowns for hospitals and healthcare workers.
Academy Sports Furloughs Staff
Academy Sports + Outdoors announced that it is temporarily furloughing a substantial number of its corporate office and distribution center personnel effective April 18 in response to the impact of COVID-19. This action follows the furlough of a portion of Academy’s store personnel last week.
College Sports Won’t Resume Until Students Return
On a conference call with the College Football Playoff Management Committee, Vice President Mike Pence was told that college football wouldn’t come back until students are allowed on campus.
J.C. Penney Skips Interest Payment Amid Bankruptcy Fears
J.C. Penney said in a regulatory filing that it is considering “strategic alternatives” and has decided not to make a scheduled $12 million interest payment on a 2036 bond.
Dr. Anthony Fauci Sees Sports Returning Initially Without Fans
Dr. Anthony Fauci, the government’s top infectious disease expert, on Snapchat’s show “Good Luck America” said that he sees sporting events returning without fans is within the realm of possibility in 2020.
Brand Finance Report Sees Significant COVID-19 Impact On Apparel Sector
Nike retained its title as the world’s most valuable apparel brand, brand value up 7 percent, according to the Brand Finance Global 500 2020. However, the report found the apparel sector will be among the most affected by the COVID-19 pandemic.
Dick’s Announces Pricing Of $500 Million Private Offering
Dick’s Sporting Goods Inc. announced the pricing of its offering of $500 million aggregate principal amount of 3.25 percent convertible senior notes due 2025 in a private offering.
Report: J.C. Penney Explores Filing For Bankruptcy
J.C. Penney Co. Inc. is exploring filing for bankruptcy as the pandemic has sidetracked its turnaround plans, according to a report in Reuters.
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