Dick’s Sporting Goods amends the company’s senior secured revolving credit facility arrangement to have $2.1 billion in aggregate commitments, up from a prior level of $1.6 billion.
Category: Footwear
Bass Pro’s Debt Ratings Outlook Lowered To Negative
Moody’s changed its debt rating of Bass Pro Group, L.L.C. to negative from stable. The change in outlook to negative from stable reflects the risk that Bass Pro’s credit metrics may weaken on a sustained basis as a result of recessionary conditions and declines in discretionary consumer spending.
Yue Yuen’s Revenues Expand 4.2 Percent In 2019
Yue Yuen Industrial (Holdings) Ltd. recorded revenue of $10,105.4 million in 2019, representing an increase of 4.2 percent, compared with the previous year. Profit attributable to owners of the company declined by 2.1 percent to $300.5 million, as compared to $307.1 million recorded for the previous year.
Crocs Amends Credit Facility, Suspends Share Buybacks
Crocs amended its revolving credit facility and suspended share repurchases to preserve maximum liquidity and flexibility amid the COVID-19 pandemic. The company also said its retail stores in North America will remain closed until further notice.
Saucony Run For Good Foundation Marks 15th Anniversary
Saucony marks the 15th anniversary of the brand’s Saucony Run for Good Foundation with the announcement of a new round of grant winners. Established in 2006, the Foundation has awarded more than $1.5 million dollars in grants to 180 schools and community organizations all dedicated to preventing childhood obesity through running and proper nutrition.
New Balance To Make Medical Masks
New Balance said it will be making medical-grade face masks at its U.S. plants as hospitals continue to face shortages of safety equipment amid the spread of the coronavirus.
Stage Stores Provides COVID-19 Business Update
Stage Stores Inc. announced a series of steps the company is taking to reduce costs and preserve liquidity in response to increasingly challenging market conditions and the impact of the COVID-19 pandemic.
Kohl’s Furloughs Workers Amid Extended Store Closures
Kohl’s said it will temporarily furlough store and store distribution center associates, as well as some corporate office associates, whose work has been significantly reduced by the store closures. Kohl’s also announced that it will extend the duration of its temporary store closures until further notice.
USA Cycling Sees 30 Percent Revenue Decline In 2020
USA Cycling said it made the difficult but necessary decision to reduce its staff size by 15 percent and place an additional 25 percent on furlough for two to four months in anticipation of a 30 percent revenue reduction due to the COVID-19 coronavirus pandemic.
Danskin Helps Drive Q4 Growth For Iconix Brand Group
Iconix Brand Group Inc. reported a strong improvement in earnings on an adjusted basis in the fourth quarter due to lower expenses and a small gain in revenue. The gains were helped by a sharp improvement in the Women’s segment led by the Danskin and Rampage brands.
Tilly’s Inc. Announces Additional Actions In Response To COVID-19
In an effort to further improve its financial position and liquidity in light of the COVID-19 pandemic, Tilly’s announced that it has borrowed the maximum available under its credit facility and furloughed all non-management store associates and a portion of its corporate office staff.
S&P Lowers Debt Ratings On Kohl’s And Nordstrom
Standard & Poors (S&P) lowered its debt ratings on Kohl’s Corp. and Nordstrom Inc. due to the coronavirus impact and related economic uncertainty.
Modell’s Bankruptcy Suspended Due To Coronavirus
Modell’s Sporting Goods’s bankruptcy proceedings were suspended until April 30 after COVID-19 restrictions temporarily shuttered stores to prevent going-out-of-business sales.
Li-Ning’s Sales Expand 32 Percent In 2019
Li-Ning reported net earnings vaulted 110 percent in its year ended December 31 as revenues increased 32 percent.
Under Armour Draws Down Revolver
Under Armour said in a regulatory filing that it borrowed $700 million under its credit facility as a precautionary measure in order to increase its cash position and preserve liquidity given the uncertainty in global markets resulting from the COVID-19 outbreak.
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