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.
Category: Sports/Fitness
Bass Pro’s Flagship In Springfield Closes Temporarily
Bass Pro Shops’ flagship store in Springfield, MO is temporarily closing amid the Coronavirus pandemic due to new stay-at-home orders in the state. The retailer already noted that it had reduced hours and limited access to 25 customers at a time.
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.
Golf Rounds Played Surge In February
Golf rounds played vaulted 19.1 in February, according to Golf Datatech. The biggest gains were seen in East North Central, New England, Mid Atlantic and West North Central.
City Of Fresno Declares Sporting Goods Essential Retail
Sporting goods stores in Fresno, CA have been allowed to reopen as essential businesses, city leaders announced. Officials said many of the stores sell essential items including food, water, emergency supplies, ice, food storage, propane, and cooking supplies.
Lululemon’s Q4 Earnings Top Estimates On Online Sales Surge
Lululemon Athletica Inc. reported net earnings rose 36.4 percent and slightly exceeded Wall Street’s targets. Same-store sales soared 20 percent, lifted by a 41 percent hike in online sales. The retailer joined other companies in not providing a forecast for the current fiscal year due to the coronavirus.
Fanatics Partners With MLB To Make Masks And Gowns For Health Professionals
Fanatics in a partnership with Major League Baseball has halted jersey production efforts and is repurposing its 360,000-square-foot manufacturing plant in Easton, PA to immediately begin making masks and gowns. The items will be made with the exact same jersey fabric that the players wear on the field.
USA Triathlon Statement On Postponement of Tokyo Olympics
USA Triathlon issued a statement in response to the International Olympic and Paralympic Committees’ respective announcements that the Olympic and Paralympic Games Tokyo 2020 will be postponed to 2021 due to ongoing logistical and public health concerns surrounding the COVID-19 global pandemic.
U.S. Road Race Participation Declines 2.7 Percent For 2019
The number of runners registering for organized races in the U.S. was down slightly in 2019, continuing a six-year gradual drawback of mass participation in recreational road racing. According to Running USA data analysis, the industry peaked in 2013, when 19 million runners crossed the finish line at U.S. running events over all distances.
Advance To Acquire The Ironman Group
Advance, the owners of Conde Naste, entered into a definitive stock purchase agreement with Wanda Sports Group Company Limited to acquire The Ironman Group in an all-cash transaction.
Moody’s Assigns A1 Rating To Nike’s Proposed Debt Offering, Outlook Revised To Negative
Moody’s Investors Service assigned an A1 rating to Nike Inc.’s proposed senior unsecured note offering. The outlook change to negative reflects the material increase in term debt at a time when there is significant uncertainty around the duration and severity of the coronavirus spread, as well as the impact of store closures and reduced consumer spending on Nike’s revenue and earnings.
Modell’s Seeks Suspension Of Bankruptcy Case
Modell’s Sporting Goods is seeking a 45-day suspension in its Chapter 11 case claiming the COVID-19 pandemic has made it impossible to conduct going-out-of-business sales.
SFIA Provides Small Business Relief Resources Amid COVID-19
The Sports & Fitness Industry Association (SFIA) released resource links to provide the sports industry with a wide range of information regarding small business relief amid the coronavirus outbreak.reak.
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