Nike Inc. reported a loss of $790 million, or 51 cents a share, in the fourth quarter ended May 31, driven by lower revenue and gross margin as a result of the COVID-19 impact on operations, partially offset by lower selling and administrative expenses. Sales decreased 38 percent to $6.3 billion.
Category: Footwear
Macy’s Announces Restructuring To Address Sales Impact From The Pandemic
Macy’s Inc. announced it will reduce corporate and management headcount by approximately 3,900 as part of a restructuring to align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic.
Hibbett Sports Opens Winston-Salem Store
Hibbett Sports announced the opening of the newest Winston-Salem, NC store located at 1223 Silas Creek Parkway in Parkway Plaza.
Sperry Names New VP Design & Development
Sperry, a division of Wolverine World Wide, Inc., has named Sean McDowell the new vice president of design and product development. In this role, he will focus on driving product innovation and elevating the Sperry brand.
Under Armour Extends Sponsorship With Texas Tech
Under Armour agreed to a four-year sponsorship extension with Texas Tech University, according to a report from the Baltimore Business Journal.
Crocs Disputes Outbreaks At Dayton Distribution Center
Crocs released a statement to clarify inferences drawn from public comments made last Thursday during Ohio Governor Mike DeWine’s about a viral “outbreak” taking place at its Dayton distribution center.
OBIT: Frank Dassler
Frank Dassler, grandson of Puma founder Rudolf Dassler, has passed away at the age of 64. He was managing director of the Puma subsidiary in the USA from 1985 to 1987 and group general counsel at Adidas from 2004 to 2018.
UConn To Drop Four Sports
The University of Connecticut will eliminate four sports in the cost-saving move. Affected programs are men’s cross country, women’s rowing, men’s swimming & diving and men’s tennis.
Eddie Bauer Joins Facebook Boycott
Eddie Bauer will pull its advertisements from Facebook in support of the w “#StopHateforProfit” campaign.
Crossfit Finds New Owner
Crossfit is being sold to Eric Roza, the owner of CrossFit Sanitas in Boulder, CO. The sale follows controversial statements from Founder Greg Glassman after the death of George Floyd.
Foot Locker Commits $200 Million To Support Black Community
Foot Locker Inc. will invest $200 million over the next five years to support the black community through investments in black-owned businesses within youth culture, purchases from more products from black-owned brands and donations to organizations that create economic development and advancement opportunities for minorities.
New York City Marathon Canceled Due To Pandemic
The 2020 TCS New York City Marathon, set to take place on November 1, has been canceled. New York Road Runners (NYRR), the event organizer, in partnership with the Mayor’s Office of the City of New York, have made the decision to cancel the world’s largest marathon due to coronavirus-related health and safety concerns for runners, spectators, volunteers, staff, and the many partners and communities that support the event.
Amazon Establishes Counterfeit Crimes Unit
Amazon announced it has established a new Counterfeit Crimes Unit, dedicated to bringing counterfeiters that violate the law and Amazon’s policies by listing counterfeit products in its store to justice.
Crocs Celebrates Opening Of New Global Headquarters
Crocs Inc. announced the opening of their new corporate headquarters in Broomfield, CO, less than 20 miles outside of downtown Denver. In addition to the nearly 375 current positions, the approximately 90,000 square foot state-of-the-art facility will allow the company to significantly expand its ability to hire more full-time jobs.
Crocs To Open Second Distribution Center In Ohio
Crocs is planning to build a second distribution center in Dayton, OH, next to its warehouse opened last year near the Dayton International Airport.
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