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.
Category: Footwear
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.
JCPenney Reopens 150 More Stores
JCPenney, which filed for bankruptcy protection on May 15, said it has reopened 150 more stores bringing the total number of locations that it has reopened during COVID-19 to 304. Nearly 500 stores should be reopened by June 3
Decathlon’s Debt Ratings Affirmed By S&P Despite COVID-19 Impact
S&P Global Ratings said it expects Decathlon’s sales, earnings and cash generation “will decline sharply” in 2020 versus 2019 due to government COVID-19 lockdown measures that closed the majority of its stores. But the rating agency affirmed its ‘A-2’ short-term rating on the company as it expects the French sporting goods chain’s strong record of 10 percent to 15 percent annual growth to resume in 2022.
The 2020 Boston Marathon Has Been Canceled
The Boston Marathon has been canceled for the first time in its 124-year history. The Boston Athletic Association (B.A.A.) said Thursday that they instead will have a “virtual event” in which participants who verify that they ran 26.2 miles on their own will receive their finisher’s medal.
Foot Locker Supports Student Scholarships
For the ninth consecutive year, the Foot Locker Foundation has awarded $20,000 scholarships to 20 exceptional students.
Under Armour Announces Phased Store Reopenings In North America
Under Armour announced details for the phased reopening of its owned stores in North America. The company reopened its first U.S. stores to customers on May 15, and opened additional stores last week. By this Friday, Under Armour will have welcomed customers back to nearly 50 percent of its North America stores.
Retailers Said Pandemic Risk Insurance Act Would Provide ‘Greater Reliance’ In Future Outbreaks
The National Retail Federation (NRF) welcomed the introduction of the Pandemic Risk Insurance Act, which would establish a federal program to help businesses obtain insurance coverage for pandemics modeled on a system for terrorism insurance established following 9/11.
National Women’s Soccer League Announces Return To Play
The National Women’s Soccer League (NWSL) will return on June 27 with a 25-game tournament, becoming the first United States sports league to return to play.
Hibbett Sports To Open Second Location In Winston-Salem
Hibbett Sports announced a new location will soon be opening in Winston-Salem, its 56th store in North Carolina.
Big 5 Posts Q1 Loss, Sees May Sales Recovering
Big 5 Sporting Goods Corp. reported a loss in the first quarter ended March 30 that came in line with projections provided in late February and said April’s comps tumbled 39 percent due to store closures tied to the pandemic. However, May’s sales and merchandising margins are seeing an uptick as stores reopen.
Nike Announces Retirement Of John Thompson From Board
Nike Inc. announced that John Thompson, Jr., a director of the company since 1991 and legendary coach of the Georgetown University men’s basketball team, has decided to retire.
Golf Retailing Recovering
As the percentage of golf retail stores open to foot traffic continues to increase, a growing number of golfers indicate their concern for visiting physical store locations is subsiding, according to the National Golf Foundation’s latest industry-wide surveys.
Adidas Partners With Yavapai College
Yavapai College in Prescott, AZ announced that Adidas will be its official uniform apparel and footwear supplier starting on July 1, 2020.
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