SGB Executive

The third COVID-19 Retail Survey of run specialty stores from The Running Industry Association (RIA) found sales for the wide majority of respondents recovered in June. However, sales slowed somewhat in July and many run specialty stores remain somewhat pessimistic about sales returning to pre-COVID-19 levels in the foreseeable future.

Recent retail surveys and studies have found that increasing expectations of online classes have altered back-to-school spending plans, as well as insights into holiday spending, entrepreneurism, brand trial, and digital wallets.

Foot Locker Inc.’s Q2 comps surged 18.6 percent with the help of explosive digital growth and momentum in basketball, providing management with enough confidence in the business to reinstate its dividend. However, Foot Locker warned that the second half packs a high degree of uncertainty.

Stand-up paddleboarders are hitting the water in — well — waves, resulting in a boom for the SUP industry during COVID-19.

Hyperice, Bombas, Ororo Wear, Blenders Eyewear, OrderMyGear, Sellmark Corp, Sparx Hockey and Blink Fitness were among a number of companies in the active lifestyle space landing on the 2020 Inc. 5000, the magazine’s annual ranking of the fastest-growing private companies in America.

TJX Cos.’s second-quarter results missed Wall Street’s targets as the off-pricer’s sales slowed towards the quarter’s end after witnessing a strong response to store reopenings. Below-plan in-store inventories also impacted sales. Sales have continued to trend down double-digits so far in the third quarter, and inventories are expected to remain below plan for much of the second half.

Susquehanna International Group on Wednesday raised its price target on Nike Inc. to $150 from $130 due to the expected strong payback from its accelerated focus on digital and DTC as well as the benefits from restructuring efforts.

Kohl’s Inc. warned that back-to-school was off to a slow start and a promotional climate is expected for holiday selling. However, the middle-market chain expects to gain significant market share as COVID-19 causes competitors to close and accelerates trends toward casualization and active lifestyles.

While Outdoor Retailer was forced to cancel its Summer Market tradeshow due to COVID-19 concerns, it did its best to bring brands and buyers together with its new live online format that ran from July 21-23, 2020, featuring programming, exhibitor booths and more.

Recent retail surveys and studies, including Accenture’s forecasting a “Decade of the Home” as the discomfort of public spaces and travel, coupled with financial fear amid the widespread decline in household income, continues to keep consumers sheltering at home. Other surveys explore back-to-school spending expectations, personal data tradeoffs and the importance of employer values for job seekers.

Stories of perseverance, promise and perspiration have played out online, and in some cases across television media, in recent months as many of the active outdoor industry-leading brands have rolled out inspirational ad and outreach campaigns on YouTube in the wake of COVID-19.

On Sequential Brands Group’s second-quarter conference call with analysts, David Conn, CEO, said the company’s active brands—AND1, Avia, Gaiam, and SPRI—have “been resilient” and a “bright spot” amid the challenges presented by COVID-19.

In an affidavit filed in the U.S. Bankruptcy Court Middle District Of Florida, Hunt Hawkins, Stein Mart’s CEO, said the off-pricer’s bankruptcy filing was partly due to struggles in recent years as the apparel category has faced online pressures. But COVID-19’s arrival, and in particular a resurgence in cases in July, made the off-pricer unable to pay its bills.

According to a report published by The NPD Group, five outdoor activities – Cycling, Paddle Sports, Golf, Camping, Bird-watching and Nature Sightings – continued their momentum with robust growth in June.

REI Co-op announced it is pursuing a sale of its newly completed corporate campus in the Spring District neighborhood of Bellevue, while shifting to a mix of multiple satellite campuses in the Seattle area and remote working to support its corporate staff. Ben Steele, REI’s EVP and chief customer officer, told SGB Executive, “To take advantage of all the flexibility that remote working allows, we think that’s going to have an impact that will benefit every employee.”