Descente Ltd. reported sales dropped 12.6 percent in its fiscal year ended March 31, to Japanese ¥124.6 billion ($11.6 bn).
Category: Footwear
OBIT: Dick Lipsey
Richard “Dick” Lipsey, founder, president, and CEO of SBRnet with a long career in supporting research for the sporting goods industry, passed away on May 15, 2020 at the age of 89. Lipsey underwent bypass surgery for a heart attack and was set to return home when he contracted COVID-19.
Consumer Confidence Ticks Up In May
The Conference Board Consumer Confidence Index held steady in May, following a sharp decline in April. The Index now stands at 86.6 (1985=100), up from 85.7 in April.
360 Adventure Collective Cancels Summer Expos In Mid-Atlantic And New England Regions
360 Adventure Collective has decided to cancel the 2020 New England and Mid-Atlantic regional trade shows due to safety concerns related to the spread of the novel coronavirus.
Vida Shoes To Undergo Corporate Restructuring
Vida Shoes International, a licensee of fashion footwear brands, said it made the difficult decision to streamline teams throughout its operation with layoffs and temporary salary reductions. The announcement comes on the heels of COVID-19 as companies across industries are facing cost-cutting measures.
Hibbett Sports Posts Q1 Loss On Steep Sales Decline
Hibbett Sports Inc., posted a net loss of $15.3 million, or 92 cents a share, in the first quarter, as sales dropped 21.4 percent. E-commerce sales vaulted 110.5 percent and the retailer said its strong balance sheet provides ample liquidity to manage the COVID-19 fallout.
The Orvis Company Appoints Simon Perkins President
Orvis announced the appointment of Simon Perkins to president. Perkins will assume full strategic and operational leadership of the company as president and is the third generation of the Perkins family to lead Orvis since 1965. Outgoing President/CEO Bill McLaughlin will act as an advisor through the transition period.
Puma Signs Iceland Soccer Team
Puma announced that it has entered into a long-term partnership with the Football Association of Iceland (KSI) to become the official technical sponsor of men’s, women’s and youth teams.
Macy’s Announces Proposed Offering Of Senior Secured Notes
Macy’s Inc. announced that it is offering $1.1 billion aggregate principal amount of senior secured notes due 2025 in a private offering. Macy’s intends to use the net proceeds from the offering of the notes, along with cash on hand, to repay all amounts outstanding under its revolving credit facility.
RunSignup Survey Shows Race Organizations Expect 45 percent Of Revenue In 2020
Revenue shortfalls for the current year are expected to be significant for race organizations of all sizes with the average expectation that they will see 45 percent of their 2019 revenue in 2020, according to a survey of ace organizers conducted in early May from RunSignup, a technology provider for U.S. races.
ICSC TV Ad Asks For Passage Of COVID-19 Recovery Fund
ICSC, the member organization serving the shopping center industry, has launched its first-ever national television campaign calling on elected leaders to create a COVID-19 Recovery Fund.
Clarks To Eliminate 900 Jobs
Clarks, the U.K.-based footwear company, said it was cutting 900 jobs globally and reviewing funding options to address liquidity needs caused by the coronavirus, according to Reuters.
Asics North America Sees Double-Digit Sales Decline
Asics North America (ANA), which includes the U.S., Canada and Mexico, said sales in the U.S. were down 18.4 percent year-over-year in the first quarter. Canada and Mexico were down 5.5 percent and 10 percent year-over-year in the local currency respectively.
Asics’ Q1 Sales Drop 13.5 Percent
Asics reported a small loss in the first quarter as sales sunk 13.5 percent. In the North American region, first-quarter sales were down 20.0 percent at currency-neutral rates.
Keds Appoints New President
Keds, a division of Wolverine World Wide Inc., appointed Bornie Del Priore as president. She is currently global brand president of the Wolverine Worldwide Kids Group, a role she will continue while also serving as global brand president of Keds.
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