Golf rounds played for March 2020 fell 8.5 percent nationally compared to a year ago, according to Golf Datatech. Double-digit increases in the New England, East North Central and Mid Atlantic regions were offset by a steep decline in the Pacific region and smaller declines in the South Central and South Atlantic.
Category: Footwear
Macy’s Plans To Reopen 68 Stores On Monday
Macy’s Inc plans to reopen 68 stores on Monday in states that reduced coronavirus lockdown restrictions, according to the Wall Street Journal.
NCAA Outlines Plan To Let Athletes Make Endorsement Deals
The NCAA’s Board of Governors announced that it had approved recommendations under which student-athletes could receive income for third-party endorsements, as well as social media opportunities, other business ventures and personal appearances that fall within certain guidelines.
Wolverine World Wide’s Debt Ratings Lowered
S&P Global Ratings lowered the debt ratings of Wolverine World Wide Inc. because it expects the footwear company’s revenue and profitability will be significantly impaired by lower consumer demand in the U.S. and retail store closures related to measures taken to contain the spread of the COVID-19 pandemic.
Soccer Parents See Soccer Returning This Summer
A survey of youth soccer parents from Soccer.com, the nation’s leading soccer-specialty retailer, finds 81 percent expect youth soccer to resume in their area by August 2020. Of those, 61 percent believe youth soccer will resume in their area by July 2020.
NPD: Leisure Footwear Sales Slump 15 Percent In First Quarter
U.S. sales of leisure footwear, which includes many of the industry’s athletic-lifestyle and outdoor categories, were down 15 percent in the first quarter, according to the NPD Group. Fashion footwear tumbled 24 percent and the smaller sport-specific performance footwear category declined 19 percent.
Inaugural Rock ‘n’ Roll Virtual Running Series Race Draws 11,000
A total of more than 11,000 people from 80 nations and all 50 states took part in the Rock ‘n’ Roll VR1, the inaugural event in the Rock ‘n’ Roll Virtual Running (VR) Series held last weekend. Rock ‘n’ Roll VR1 consisted of a 5K with participants having the ability to compete anywhere, indoors or outdoors.
JD Sports Suspends Dividend, Cuts Salaries
JD Sports said it will suspend its dividend, reduce the salaries of its senior management team and defer bonuses in order to support liquidity as a precautionary measure amid the COVID-19 pandemic.
Macy’s Debt Ratings Lowered
S&P Global lowered the debt ratings of Macy’s as the rating agency expects prolonged effects of social distancing and a weak environment for discretionary spending will intensify pressures on the department store sector. S&P said Macy’s also faces sizable upcoming debt maturities over the next several years and potential covenant compliance issues under its revolving credit facility.
Adidas’ Q1 Revenues Drop 19 Percent
Adidas AG reported first-quarter earnings tumbled 97 percent. Sales slumped 19 percent on a currency-neutral basis. Adidas also warned the second-quarter results would decline to a greater degree.
Ross Stores Donates $1.5MM To COVID-19 Relief Efforts
Ross Stores, Inc. announced that the company and the Ross Stores Foundation have jointly pledged $1.5 million of donations to local and national organizations providing essential COVID-19 relief services and additional support to our associates.
NBA Opening Some Practice Facilities
The NBA is reportedly planning to re-open a number of team practice-facilities.
Survey Finds Consumers Feel Least Safe Shopping in Malls
According to a nationwide survey from First Insight taken on April 20, the majority of consumers surveyed would feel the safest shopping in grocery stores (54 percent) and drug store chains (50 percent).
J.C. Penney In Negotiations Over Bankruptcy Financing
J.C. Penney Company Inc. is negotiating bankruptcy financing with banks for a debtor-in-possession loan to secure liquidity for operations during bankruptcy, according to a report in the Wall Street Journal.
New Balance Wins Copyright Lawsuit In China
New Balance won a copyright lawsuit against a Chinese firm in a lengthy battle. The Shanghai Pudong People’s Court ruled that New Barlun was guilty of unfairly using an “N” symbol that closely resembles New Balance’s signature logo and could mislead consumers.
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