Gap Inc. said it’s preparing to re-open up to 800 of its Old Navy, Athleta, Gap, Banana Republic, Janie and Jack and Intermix stores before the end of the month, starting with a small selection of locations in Texas this weekend. The company’s top priority remains the health and safety of its employees, customers and communities.
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Safilo Group’s Q1 Dragged Down By COVID-19 Impact
Safilo Group S.p.A., the parent of Smith Optics, reported earnings eroded sharply and sales fell 11.5 percent at constant exchange rates in the wake of the coronavirus outbreak.
NRF Chief Economist: Recovery Likely To Come In ‘Fits And Starts’
With some stores starting to reopen as governors lift stay-at-home orders across the country, economic recovery from the coronavirus pandemic is likely to come gradually and may vary by location, NRF Chief Economist Jack Kleinhenz said Wednesday.
April M&A Roundup: CODI, Exxel, Vicis And More
April was another slow month for M&A in the active-lifestyle market as the coronavirus continued to ravage traditional business transactions, but a few deals were either announced or completed, including those from Compass Diversified Holdings (CODI), Exxel Outdoors and Vicis.
Nike To Donate Sneakers To Frontline Healthcare Workers
In recognition of frontline healthcare workers combating COVID-19 around the world, Nike will partner with nonprofit Good360 in the U.S. and local organizations across Europe to donate more than 140,000 pieces of footwear, apparel and equipment globally.
Report: Lord & Taylor Preparing To Liquidate
Lord & Taylor is reportedly preparing to liquidate its stores as soon as they reopen, according to a report from Reuters.
Nautilus Rides Stay-At-Home Fitness Trends To Strong Q1
Nautilus Inc. reported revenue for the first quarter of $93.7 million, up 11 percent from $84.4 million in the year-ago period, driven primarily by strong demand for strength and cardio products, including its new connected-fitness bikes.
Schoeller Strengthens Vendor Partnerships Amid Pandemic
Schoeller North America has been working closer than ever with its brand partners on forecasting, sharing information and finding ways to be flexible to help each other manage through the pandemic. Stephen Kerns, president, Schoeller North America, talks to SGB Executive about the many ways the crisis has impacted Schoeller, heightened demand for functional fabrics, and what he hopes will be post-coronavirus benefits to healthy lifestyles, the environment and the family.
Road Runner Sports To Host A Virtual Race
Road Runner Sports has partnered with Stride, the boutique fitness franchise that offers treadmill-based cardio and strength workouts, to host a national virtual race on June 3, which is Global Running Day.
Duluth Holdings Starts To Re-Open Stores
Duluth Holdings Inc. said it re-opened 20 retail stores on Monday where COVID-19 restrictions have been lifted and is preparing to re-open the balance as other states lift their pandemic mandates. The apparel company also announced steps to shore up its liquidity.,
Gold’s Gym Files For Chapter 11 Bankruptcy Protection
Gold’s Gym filed for Chapter 11 bankruptcy protection Monday as the fitness chain deals with the closure of outlets across the country due to coronavirus. The filing does not involve franchise-owned gyms and the company expects to emerge from bankruptcy proceedings by August.
Pelican Products Debt Outlook Changed To Negative
The debt rating for Pelican Products, a supplier of performance case solutions and advanced portable lighting systems based in Torrance, CA, was affirmed by Moody’s but the rating agency’s outlook was changed to negative.
Topgolf’s Debt Rating Downgraded
Moody’s downgraded the debt ratings of Topgolf International over concerns that the coronavirus outbreak will hamper its ability to operate its venues until the spread of the virus subsides.
Puma Close To Signing Raheem Sterling
Puma is reportedly close to signing Raheem Sterling, the Manchester City soccer star, to a record-breaking endorsement to become the face of the brand’s soccer strategy. Sterling is currently with Nike.
Wanda Sports’ Revenues Slide In 2019, Warns On COVID-19 Impact
Wanda Sports Group Co., the China-based owner of Ironman, the Rock ’n’ Roll Marathon series, Cape Epic mountain biking event, reported total revenue was €1.03 billion (US$1,156.5 million) in 2019, a decrease of 9 percent compared with 2018. The company also warned that by April 2020, substantially all of its sports events had been canceled or postponed “and it is currently unclear when these sport events will resume.”
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