Kathmandu Holdings Ltd said its New Zealand retail stores and distribution centers were closed on March 24 and is in the process of closing its Australian stores as a result of the coronavirus. The company also introduced a number of steps to conserve liquidity and streamline the business in the current environment.
Category: Outdoor
Montane Appoints Andy Towne As Chair Of Board
Montane, European specialist brand of outdoor apparel and equipment, announced the appointment of Andy Towne as Chair of its Board of Directors on March 20, 2020.
City Of Fresno Declares Sporting Goods Essential Retail
Sporting goods stores in Fresno, CA have been allowed to reopen as essential businesses, city leaders announced. Officials said many of the stores sell essential items including food, water, emergency supplies, ice, food storage, propane, and cooking supplies.
Acquisitions, Firearms, E-Commerce Fuel Sportsman’s Warehouse In Q4
Sportsman’s Warehouse Holdings Inc. reported net sales for the fiscal fourth quarter of $258.2 million, up 6.4 percent from $242.7 million in the prior-year quarter. The net sales increase was primarily due to a strong performance from eight acquired stores, momentum in the firearm and ammunition categories in January and growth in its e-commerce business.
Target Provides Business Update To COVID-19
Target Corp. said that as the COVID-19 crisis has evolved, the company has been experiencing unusually strong traffic and sales. As a result, the company has adjusted the expected timing of some of its strategic initiatives.
Camping World’s Debt Ratings Lowered
Moody’s Investors Service downgraded the debt ratings of Camping World due to the potential for ongoing softness in the RV market as the coronavirus likely impacts purchases of big-ticket items.
Winnebago Industries Sees 45 Percent Q2 Gain
Winnebago Industries Inc. reported revenues for the fiscal 2020 second quarter ended February 29, increased 44.9 percent to $626.8 million compared to $432.7 million for the fiscal 2019 period. Revenues for Newmar, which was acquired in the first quarter of fiscal 2020, were $138.4 million.
Dick’s Sporting Goods Cuts Salaries And Expenses, Suspends Stock Buybacks
Dick’s Sporting Goods, in a regulatory filing, announced the temporary reduction in the base salaries of certain executive officers in response to the current business environment as impacted by COVID-19. The retailer also said it’s embarking on a “significant reduction” in expenses and planned inventory receipts, reducing planned capital expenditures, temporarily suspending its share buybacks, and evaluating its dividend program.
Deckers Re-Opens Distribution Center
Deckers Brands said that after incorporating enhanced safety protocols, the company has resumed modified operations with limited capacity at its distribution center located in Moreno Valley, CA.
Anta Sports Sees First-Half Sales Drop Due To Coronavirus
Anta Sports said it expects a low-double-digit decrease in revenues for the first half of 2020 due to the fallout from the coronavirus, but sales are expected do recover in the second half and growth is still expected for the year.
VF Corp. Withdraws Guidance, Draws Down $1 Billion From Credit Facility
VF Corp. said it has drawn down $1 billion from its revolving credit facility “in an abundance of caution and as a proactive, precautionary measure” in response to the coronavirus. The company also withdrew its guidance for 2020.
Igloo Pledges Profits To Coronavirus Response Fund
Igloo has announced they will be donating 100 percent profits from all Playmate coolers sold on Igloocoolers.com over the course of the next 30 days to the CDC Foundation Coronavirus Response Fund.
Recall: C3 Manufacturing Climbing Devices
About 1,100 Perfect Descent Auto Belays climbing devices from C3 Manufacturing are being recalled.
WSL Cancels Or Postpones All Events Through May
Due to the continued evolution of the COVID-19 pandemic, the World Surf League (WSL) is postponing or canceling all events, at all levels of competition, through the end of May.
Academy Sports Adjusts Hours For Extra Cleaning
Academy Sports & Outdoors said that effective Wednesday, March 18, 2020, it updated its store hours to allow additional time for intensive cleaning in response to the coronavirus.
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