Dick’s Sporting Goods reported a consolidated net loss of $143.4 million, or $1.71 per diluted share, for the first quarter ended May 2, compared to a net income of $57.5 million, or 61 per diluted share, in the year-ago quarter.
Category: Footwear
Nike’s CEO Speaks Out Against Racism
John Donahoe, CEO of Nike, sent a memo to employees regarding George Floyd’s death where he said, “Nike is opposed to bigotry” and supports the nationwide peaceful protests.
Outdoor Industry Addresses Racial Injustices On Social Media
The North Face, REI, Patagonia, Merrell and Columbia Sportswear all issued messages of support for those protesting racial injustice.
NRF Chief Economist Said ‘Uncertainty Abounds’ In Predicting Recovery From Coronavirus Pandemic
While the reopening of businesses shut down by the coronavirus pandemic is a significant step forward, it is too soon to say how quickly or smoothly the nation’s economy will recover, National Retail Federation Chief Economist Jack Kleinhenz said.
NRF Issues Statement On Incidents At Retail Stores
In response to the incidents involving retailers following the death of George Floyd, NRF’s President and CEO Matthew Shay said in a statement, “Defacing, looting and plundering businesses, whether viewed as a direct outgrowth of fury or an opportunistic act of vandalism and theft, impedes progress and healing.”
VF’s CEO In Employee Memo Compares Racism To Virus
In a letter sent May 30 to all employees entitled, “Racism is another virus to eradicate,” VF chairman, president and CEO Steve Rendle called George Floyd’s death “tragic” and “stomach-churning” — and likened racism to the coronavirus pandemic.
Columbia Sportswear’s CEO Speaks Out Against Racism
In a letter to employees, Tim Boyle, chairman, president and CEO, of Columbia Sportswear, said the company fully supports “all victims of racism and all who speak out and act against racial injustice.”
L.L.Bean And National Park Foundation Receive 2020 Silver Halo Award
The National Park Foundation (NPF) and L.L.Bean were awarded the 2020 Silver Halo Award winner in the experiential/event category. In 2019, L.L.Bean leveraged its Find Your Park partnership with NPF to bring its S’more out of Summer campaign to life.
Sports Industry Takes A Stand Against Racial Injustice
Nike, Foot Locker Adidas, Brooks, Nordstrom, New Balance, and Under Armour were among the companies in the active lifestyle industry issuing statements and messages appealing for solidarity against racism amid the protests in the U.S. over the death of George Floyd.
NCAA Survey Shows Student-Athletes Grappling With Mental Health Issues
Since college sports were halted by the COVID-19 pandemic in March, most respondents in an NCAA student-athlete well-being survey reported experiencing high rates of mental distress. The survey, which was open from April 10-May 1 and had responses from more than 37,000 student-athletes, also showed 82 percent of respondents reported feeling positive or very positive about the support they are receiving from their coaches.
Adidas And Allbirds Collaborate To Accelerate Sustainable Footwear Design
Adidas and Allbirds announced a partnership that seeks to “open the doors to each other’s suite of sustainable innovations” in an attempt to create a shoe with the “lowest carbon footprint ever recorded.” This marks the first time in Adidas’ history in which the brand has collaborated with another footwear brand not under its umbrella.
Premier League To Return June 17
The English Premier League, the most-watched league in the world, has agreed to a provisional return on June 17. Due to COVID-19, matches will take place behind closed doors.
Nordstrom’s Q1 Revenues Sink 40 Percent
Nordstrom Inc. reported a loss of $521 million in the first quarter that included impairment charges related to store closures, premium pay and benefits and restructuring charges. The retailer said the quarter reflected actions to strengthen its financial flexibility through inventory and overhead cost reductions and position the business for the long-term through an acceleration of its strategic initiatives.
Burlington Stores Q1 Sales Decline By Half
Burlington Stores Inc. reported revenues tumbled 51 percent in the first quarter ended May 2 as all of the off-price stores closed on March 23 and remained close for the remainder of the quarter. Over 400 stores will have reopened by this weekend.
Murray State Partners With Nike, BSN Sports
Murray State Athletics announced a new multi-year partnership with Nike, serviced by BSN Sports. Murray State joins the BSN Sports Collegiate Select program benefiting all 15 sports programs.
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