Shoe Carnival Sees Decision Not To Furlough Workers Paying Off
Shoe Carnival Inc. reported a loss in the first quarter on a steep sales decline due to stores closures tied to COVID-19. But online sales are increasing more than three-fold and officials believe a decision not to furlough any workers is helping drive above-plan sales as stores reopen.
Youth Sports Facing Long Road To Return
In a webinar, “The Future of Youth Sports Economic Impact & Business Strategy Ahead,” professors at the American University in Washington, D.C. detailed the many obstacles the return of youth sports faces, includes rebuilding critical infrastructure amid the depletion of funding and parental buy-in.
Run Specialty Channel Facing ‘Slow Burn Back To Normalcy’
As the country enters this next phase of the COVID-19 crisis, the run specialty channel is facing a particularly hard slog with many brands and retailers unlikely to keep pace if the economy reopens too slowly. The latest survey from the Running Industry Association (RIA) highlighted just how bad things are—and how much worse they could get.
Kohl’s Looks To Seize Market Share Post-Pandemic
Kohl’s Corp. reported a dismal first quarter as sales were “materially impacted” by COVID-19. However, the department store operator introduced several initiatives, including a continued active push, to accelerate market share gains in the future.
SOG Forges New Chapter During ‘Perfect Time’ For Rebrand
Studies and Observations Group (SOG), the Seattle, WA-based maker of knives, tools and packs, is taking the brand in a new direction. The company’s leadership talks about what the next chapter entails and why the economic uncertainty of the coronavirus pandemic is a perfect backdrop for the reconfiguration.
M&A Remains On VF Corp.’s Radar Amid Crisis
VF Corp. missed fiscal fourth-quarter earnings and revenue estimates and now faces a soft retail demand environment, but the company remains resolute about pursuing M&A amid this challenging economy. We look at how VF’s financial strength and appetite for adding assets has set the stage for a deal.
Walmart Looks To Drive Outdoor Diversity Through Product
Continuing its ambition to bring more diversity to the outdoor industry, Moosejaw, in collaboration with Walmart, last week introduced two gear and apparel lines, Lithic and Allforth. In an interview with SGB Executive, Eoin Comerford, GM of Outdoor at Walmart e-commerce and CEO of Moosejaw, said the launches mark a shift in strategy from 2018’s launch of Walmart’s Premium Outdoor Store but the goal of expanding the overall outdoor pie remains the same.
Active Brands Become “Bright Spots” For Sequential Brands In Q1
Sequential Brands Group’s first-quarter results were impacted by store closures due to the COVID-19 outbreak. However, its active brands – including AND1, Avia, Gaiam and SPRI – were cited as “bright spots” as consumers look to stay active at home amid lockdown measures.
How Ongoing ‘Evolution’ Prepared VF For Current Crisis
The ongoing evolution of VF Corp.—which began in 2017 and was elevated last year through several measures—has the Denver, CO-based well-positioned during this ongoing pandemic. CEO Steve Rendle and CFO Scott Roe discussed VF’s playbook for getting the company back on track after a hard-hit Q4.
Wilson Talks About Its New NBA Basketball Partnership
On Wednesday, the NBA announced Wilson will replace long-time partner Spalding as the official game ball of the NBA starting with the 2021/22 season. Wilson’s Basketball General Manager Kevin Murphy Wilson talks to SGB Executive about how the NBA partnership will elevate Wilson’s basketball game
Aisle Talk Week of May 11, 2020
Top National Stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market during the week of May 11, 2020.
Surveys Underscore Concerns Over Youth Sports Programs Folding
In a survey of youth sports organizers from youth sports sponsorship platform LeagueSide, 46 percent believe their programs are in danger of permanently shuttering due to the impact of COVID-19. A separate survey of youth sports parents found 54 percent likewise expressing concern that a program their children participate in could fold.
May 14 Coronavirus Notebook: Petzl’s Preparation, M&A Moderation And More
As part of SGB Executive’s ongoing coronavirus coverage, we are highlighting companies and categories that are doing well. Our latest Coronavirus Notebook looks at how Salt Lake City, UT-based gear maker Petzl prepared for the pandemic. We also look at the potential freeze on M&A and recap our recent COVID-19 stories.
Vendors Lend A Hand To Indies
Brooks, Vans, Osprey and Alta Cycling Group are just a few of the brands that have launched programs to support independent specialty stores across the cycling, outdoor and run space amid the coronavirus pandemic. Many steer sales or customers to stores while a few are helping with outreach efforts to those sheltering at home.
Dorel Sports Finds ‘Silver Lining In Pandemic Cloud’
With more people now looking to ride bikes, the coronavirus has presented a unique opportunity for Dorel Sports, the owner/operator of such brands as Cannondale, Schwinn, GT and Mongoose. “There has been a silver lining in this pandemic cloud,” said Dorel President and CEO Martin Schwartz.
