Nordstrom Inc. plans to permanently close 16 full-line stores and announced other additional actions to increase flexibility and agility in response to COVID-19. The Seattle-based chain also said it will make changes to how its stores function in a “market-by-market” approach and will move its big Anniversary Sale from July to August.
Category: Footwear
Wolverine Worldwide Announces Offering Of Senior Notes
Wolverine World Wide Inc. announced an offering $300 million aggregate principal amount of senior notes due 2025. Proceeds will be used to repay borrowings under its revolving credit facility.
Report: Lord & Taylor Preparing To Liquidate
Lord & Taylor is reportedly preparing to liquidate its stores as soon as they reopen, according to a report from Reuters.
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.
Bogs Q1 Sales Drop 22 Percent
Weyco Group Inc. reported sales of Bogs fell 22 percent on a wholesale basis in the first quarter. Overall sales for Weyco, which also owns the Florsheim, Stacy Adams and Nunn Bush footwear brands, were down 14 percent.
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.
L.L. Bean Rolls Out Curbside Pick-Up
L.L. Bean said it is introducing curbside pickup although it’s currently only available at its flagship location in Freeport, ME.
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.”
Shoe Carnival Begins Initial Store Re-Openings
Shoe Carnival re-opened 122 stores on May 1 and 62 on May 4.
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.
DSW-Parent Provides Financial Liquidity Update
Designer Brands Inc., the parent of DSW, announced the amendment of its $400 million revolving line of credit. This amendment, coupled with support received from vendor partners and landlords, helps to fortify the company’s near-term liquidity as it addresses the continuing impacts of COVID-19 and begins to reopen stores in select geographies.
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