The Aldo Group Inc., the fashion footwear brand, announced that it sought and obtained an initial order pursuant to the companies’ Creditors Arrangement Act (CCAA) from the Superior Court of Québec. In addition, the company has voluntarily applied for similar protection in the United States and is about to do the same in Switzerland. The company intends to use the proceedings to stabilize the business.
Category: Footwear
Puma’s Q1 Earnings Decline 62 Percent
Puma reported that its first-quarter earnings were dragged down by the coronavirus pandemic while warning of a bigger impact in the second quarter.
Acushnet Posts Steep Q1 Profit Decline On COVID-19 Impact
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, reported net income dropped 74.5 percent, adjusted EBITDA slid 17.8 percent and sales were down 5.8 percent in the first quarter.
SportChek’s Q1 Sales Slump 13.1 Percent
Canadian Tire Inc. reported sales in its SportChek segment decreased 13.1 percent while comparable sales decreased 1.8 percent. Helly Hansen’s revenue in the quarter was $121.5 million, a decrease of 7.3 percent. On a constant currency basis, Helly Hansen revenue grew 0.6 percent.
Dick’s Sporting Goods Re-Opens In 23 States
Dick’s Sporting Goods has re-opened locations in 23 states with new social distancing guidelines and the retention of curbside pickup.
NPD: Weekly Retail Spending Up 7 Percent Sequentially
Retail spending rose 7 percent for the week ending April 25 compared to the prior week, according to The NPD Group. Sales were flat year-over-year during the same period — the first time sales didn’t decline since early March.
Kohl’s Begins Reopening Stores
Kohl’s Corp has re-opened stores in Arkansas, Oklahoma, South Carolina and Utah in its first steps to re-open stores amid the pandemic.
SFIA’s State of the Industry Report Shows 3.9 Percent Growth In 2019
The sports and fitness industry performed well across multiple sectors in 2019, according to the Sports & Fitness Industry Association’s annual State of the Industry Report. In 2019, the industry grew 3.9 percent in one year, representing the largest annual growth in 17 years.
Nike To Donate Sneakers To Frontline Healthcare Workers
In recognition of frontline healthcare workers combating COVID-19 around the world, Nike will partner with nonprofit Good360 in the U.S. and local organizations across Europe to donate more than 140,000 pieces of footwear, apparel and equipment globally.
Nordstrom To Permanently Close 16 Stores
Nordstrom Inc. plans to permanently close 16 full-line stores and announced other additional actions to increase flexibility and agility in response to COVID-19. The Seattle-based chain also said it will make changes to how its stores function in a “market-by-market” approach and will move its big Anniversary Sale from July to August.
Wolverine Worldwide Announces Offering Of Senior Notes
Wolverine World Wide Inc. announced an offering $300 million aggregate principal amount of senior notes due 2025. Proceeds will be used to repay borrowings under its revolving credit facility.
Report: Lord & Taylor Preparing To Liquidate
Lord & Taylor is reportedly preparing to liquidate its stores as soon as they reopen, according to a report from Reuters.
Kathmandu’s Online Sales Surge
Kathmandu, the New Zealand-based outdoor chain and owner of Oboz and Rip Curl, reported online sales increased nearly three-fold in April while announcing plans for a staged reopening of physical stores, with a focus on employee and customer safety. The company also said a successful equity raising and cost reduction efforts have solidified its financial position.
Bogs Q1 Sales Drop 22 Percent
Weyco Group Inc. reported sales of Bogs fell 22 percent on a wholesale basis in the first quarter. Overall sales for Weyco, which also owns the Florsheim, Stacy Adams and Nunn Bush footwear brands, were down 14 percent.
TIA Survey Highlights Challenges For Tennis Retailers
According to a survey from the TIA (Tennis Industry Association) of professional and specialty tennis retailers in the United States, steep sales declines were expected for March and April. Nearly 90 percent of the respondents’ stores were closed when the survey was taken.
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