Dick’s Sporting Goods, Inc. announced the reinstatement of its dividend program. The retailers also announced that with nearly 100 percent of its stores expected to have re-opened to the public by June 30, it has restored previously reduced salaries for all employees, except for certain executives, and has returned substantially all associates from furlough.
Category: Footwear
Boardriders Debt Ratings Lowered
The debt ratings of Boardriders Inc., the parent of Quiksilver, Billabong, ROXY, DC Shoes, RVCA and Element brands, were lowered by S&P Global Ratings. The rating agency said Boardriders recently published preliminary results showed severely negative EBITDA in the second fiscal quarter and indicated that it might need additional liquidity this year to meet its obligations.
Lululemon DTC Surges To 54 Percent Of Sales In Fiscal First Quarter
Lululemon Athletica Inc. reported that net revenue for the first quarter ended May 3 was $652.0 million, a decrease of 17 percent compared to the first quarter of fiscal 2019.
Nike Makes Juneteenth An Annual Paid Holiday
Nike is making Juneteenth, which takes place on June 19 and commemorates the end of slavery in the U.S., an official paid company holiday, CEO John Donahoe said Thursday in a letter to employees. He also said Nike will be taking further steps to ensure Black, Latino and Women are properly represented at Nike.
Adidas Boosts Investment In Black Communities
Adidas on Wednesday raised its investment in black communities to $120 million from $20 million after criticism.
NGF Finds Golf Participation Spiked In Areas That Faced Restrictions
According to analysis by the National Golf Foundation (NGF), golf participation has picked up in recent weeks in several key golf markets as courses reopen with the surge in play most pronounced in courses that faced restrictions.
Report: COVID-19 Has Not Reduced Consumers’ Demand For Sustainable Solutions
Kearney’s annual Earth Day survey found consumers still show a strong and growing interest in the environment even as COVID-19 continues to ravage the nation.
Emerald Holding To Receive $400 Million Convertible Preferred Stock Infusion
Emerald Holding Inc., the parent of Surf Expo, Outdoor Retailer and other trade shows, announced plans to raise $400 million through the issuance of convertible participating preferred stock to affiliates of Onex Corporation, the company’s controlling stockholder and in a subsequent rights offering.
Mall Owner Simon Terminates Deal To Buy Taubman
Simon Property Group, the largest U.S. mall owner, announced that it has exercised its contractual right to terminate its February 9, 2020 merger agreement with high-end mall owner Taubman Centers. Simon argues that Taubman has breached its obligations, specifically by not taking steps “to mitigate the impact of the pandemic as others in the industry have.”
Survey Highlights Disruption Facing Endurance Race Events
According to a recent survey of nearly 400 endurance event professionals from Running USA, 67 percent expect to need additional funding to support their events beyond the Paycheck Protection Program (PPP).
Hunter Boots CEO Exits Amid Strategic Review
Hunter Boots announced that CEO Vincent Wauters will step down “by mutual agreement” at the end of July to pursue new opportunities. His exit comes as Hunter begins a strategic review. Wauters joined Hunter in 2016 from Arc’teryx, where he was president.
MLS To Return July 8
Major League Soccer (MLS) announced the league’s plan to restart the 2020 season with all 26 clubs competing in the MLS is Back Tournament at ESPN Wide World of Sports Complex at Walt Disney World Resort in Florida beginning July 8.
Outdoor Retailer Introduces Outdoor Retailer Online This Summer
Outdoor Retailer has launched a new Outdoor Retailer Online platform in the wake of the cancellation of Outdoor Retailer Summer Market due to COVID-19. An online, three-day outdoor business, networking, and educational event will run from July 21-23, 2020.
Merrell Appoints Chief Marketing Officer
Merrell, a division of Wolverine World Wide, Inc., announced the appointment of Janice Tennant to the position of chief marketing officer, reporting directly to Merrell’s global brand president, Chris Hufnagel. She was formerly chief marketing officer for Cat Footwear.
CrossFit’s Founder Resigns Following Comments On George Floyd
Greg Glassman, founder and CEO of CrossFit, is stepping down in the wake of making numerous insensitive comments about the death of George Floyd. Dave Castro, the director of the CrossFit Games and co-director of training, will assume the CEO role.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal