The Tennis Industry Association’s latest “2020 Tennis Industry COVID-19 Impact Studies” report for July finds approximately 85 percent of tennis retailers and facilities operators said they were open in the July survey, up from about 36 percent in the May survey.
Category: Footwear
Adidas Group Posts Q2 Loss On COVID-19 Impact; E-Commerce Nearly Doubles
Adidas Group second-quarter revenues decreased 34 percent in currency-neutral terms. Sales at brand Adidas declined 33 percent in the second quarter, and Reebok revenues were down 42 percent reflecting the brand’s higher exposure to the U.S. market.
The VF Foundation Announces $7.3 Million In Community Investments
The VF Foundation, the private grantmaking organization funded by VF Corp., announced the recipients of its gifting cycle totaling $7.3 million in investments to 80 organizations around the world.
Wolverine Worldwide Sees Q2 Results Exceed Plan On Online Momentum
Wolverine Worldwide reported sales dropped 39 percent in the second quarter but came in better than expected with a boost from almost triple-digit owned e-commerce growth. The parent of Merrell, Sperry, Saucony and other footwear brands also managed to post a profit in the period and “exceptional cash flow”.
Acushnet Holdings’ Q2 Revenues Slump 35 Percent
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, reported second-quarter net income down 94.0 percent, adjusted EBITDA fell 56.3 percent and sales slid 35.1 percent.
Nike Eyes 500 Layoffs At Oregon HQ
Nike announced layoffs that will eliminate at least 500 jobs at the company’s world headquarters in Oregon, according to the state of Oregon’s Worker Adjustment and Retraining Notification website.
Boot Barn Gets E-Comm Lift in Fiscal Q1 To Partially Offset Retail Store Decline
Boot Barn Holdings, Inc. reported that net sales decreased 20.5 percent to $147.8 million in the first fiscal quarter ended June 27. Same-store sales decreased 14.9 percent, comprised of a 27.1 percent decrease in retail store same-store sales and a 51.9 percent increase in e-commerce sales.
Weyco Group Posts Q2 Loss As Sales Fall 72 Percent
Weyco Group, Inc. reported that net sales were $16.7 million for the second quarter ended June 30, down approximately 72 percent compared to $60.5 million in the year-ago quarter. Diluted loss per share was 91 cents in Q2 compared to diluted earnings per share of 15 cents in Q2 last year.
Adidas AG Extends CEO’s Appointment Through July 2026
The Supervisory Board of Adidas AG has extended the appointment of CEO Kasper Rorsted by another five years until July 31, 2026.
Amer Sports Q2 Revenues Sink 36 Percent
Amer Sports’ revenues fell 36 percent in the second quarter, driving a 22 percent decline in the first half of the year, according to debt reviews from Moody’s and S&P. Bot rating agencies affirmed Amer has adequate liquidity to operate through the year and each assigned a low investment-grade rating of B3 and B- on Amer’s new €100 million facility.
H1 Athletic Footwear And Apparel Sales Fall In Low-Teens, According To NPD
According to the NPD Group, both athletic footwear and activewear sales declined in the low-teens in the first six months of the year. In footwear, Brand Jordan, Brooks, Hoka One One, and On were among the few athletic brands showing gains. Nike performed better in apparel among the big-three brands.
DW Sports Enters Administration
DW Sports, which operates 73 gyms and 75 stores across the U.K., said it plans to enter into administration. All of its stores will close, but DW plans to work with administrators from BDO to save as many gyms as possible.
OR Parent’s Q2 Results Marred By Event Cancellations
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, reported a steep decline in revenues in the second quarter due to event cancellations tied to COVID-19 but saw a more modest decline in earnings due to the arrival of initial claims confirmed under its event cancellation insurance policy.
Hurley Family Acquires Simple Footwear Brand
Kandui Holdings LLC, founded by the Hurley family, through its new operating entity Simple Shoes LLC, has acquired the outstanding assets and intellectual property of Simple from KTSimple LLC.
Emerald Holding Announces Election Of New Preferred Stock Directors
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, announced that OPV GEM Aggregator LP, the majority holder of the outstanding shares of Series A Convertible Participating Preferred Stock of Emerald Holding, Inc., elected Lynda Clarizio and David Levin as Preferred Stock Directors to the company’s Board of Directors, effective immediately.
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