Convoy of Hope, a not-for-profit supporting disaster relief, announced Bass Pro Shops Founder Johnny Morris is personally donating one million FDA-approved ASTM Level 1 Procedure Face Masks to healthcare workers and first responders working on the front lines of the COVID-19 crisis across the U.S.
Category: Footwear
Retail Trade Groups Applaud Tariff Relief
The National Retail Federation, Retail Industry Leaders Association and U.S. Chamber of Commerce all applauded the Trump administration’s move to postpone some tariff collections for 90 days amid the COVID-19 pandemic.
Shoe Carnival Further Enhances Financial Liquidity
Shoe Carnival Inc. announced it has exercised the accordion feature of its credit agreement with Wells Fargo Bank, N.A. and Fifth Third Bank, National Association to further enhance its financial liquidity position.
VF Corp.’s Debt Rating Outlook Revised To Negative
Standard & Poors Corp. revised its debt rating outlook on VF Corp. to negative. The rating agency said it expects VF’s operating results to be “significantly weaker” than it expected due to the economic fallout from the spread of the coronavirus.
Foot Locker’s Debt Rating Outlook Revised To Negative
Standard & Poors Corp. revised its outlook to negative from stable and affirmed all its ratings on Foot Locker, including the ‘BB+’ issuer credit rating. The rating agency said the retailer will face significant top-line headwinds this year, as restrictive government mandates to contain the coronavirus pandemic lead to temporary store closures, deflated consumer confidence, and a swift and severe drop in discretionary consumer spending.
Nike Signs 2020 WNBA First Draft Pick
Nike has signed Sabrina Ionescu, who was selected first overall in the 2020 WNBA draft and has been the most hyped women’s basketball prospect in recent years.
Neiman Marcus Could File For Bankruptcy This Week
Neiman Marcus Group is preparing to file for bankruptcy as soon as this week, Reuters reported Sunday.
Academy Sports’ Debt Ratings Downgraded
Moody’s Investors Service downgraded Academy, Ltd.’s corporate family rating (CFR) to Caa2 from Caa1 and probability of default rating (PDR) to Caa3-PD from Caa1-PD.
Todd Spaletto Out At Wolverine World Wide
Wolverine World Wide reported that Todd Spaletto and the company mutually agreed he will resign as president of WWW’s Michigan Group on or before May 30, according to a regulatory filing.
Stein Mart Calls Off Buyout Plans
Stein Mart Inc. called off plans for a buyout by a private equity firm amid the “unpredictable economic conditions” caused by the COVID-19 pandemic.
Kohl’s Enters $1.5 Billion Asset-Based Revolving Credit Facility
Kohl’s Corp. in a regulatory filing said it has entered a $1.5 billion asset-based revolving credit facility.
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.
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