In a memo issued on Thursday titled “Guidelines for Opening Up America Again,” the White House included gyms among the businesses that could reopen to the general public during “phase one” of its three-part reopening plan to jump-start the American economy.
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Academy Sports’ Debt Ratings Downgraded
Moody’s Investors Service downgraded Academy, Ltd.’s corporate family rating (CFR) to Caa2 from Caa1 and probability of default rating (PDR) to Caa3-PD from Caa1-PD.
Delta Apparel Furloughs 300 Workers To Shore Up Liquidity
Delta Apparel Inc. said COVID-19’s spread led to a sales decline in its second quarter ended March 28 and warned sales would be “dramatically lower” in the third quarter. On a conference call, the activewear company further said it furloughed 300 U.S. workers as part of steps to preserve liquidity. On a positive note, officials noted that 25 percent of its business isn’t being impacted by the virus.
Aisle Talk Week Of April 13, 2020
Top National Stories and the Latest Headlines from SGB Updates across the Active Lifestyle Market during the week of April 13, 2020.
Nordstrom Announces Additional Liquidity And Flexibility Measures
Nordstrom Inc. announced the amendment of its $800 million revolving line of credit and the closing of its 8.75 percent secured debt offering of $600 million. The company said these actions will provide additional liquidity and flexibility in response to uncertainty related to the novel coronavirus (COVID-19).
Gold’s Gym Permanently Closes 30 Gyms
Gold’s Gym is closing about 30 gyms across the U.S., including all locations in Alabama, St. Louis, and Colorado Springs, CO due to the impact of the novel coronavirus.
PGA Tour Announces Mid-June Return In Texas
The PGA Tour announced that it would resume its season in mid-June with a tournament in Fort Worth without spectators.
USTA Pledges $50 Million To Support U.S. Tennis
The United States Tennis Association (USTA) is set to commit more than $50 million in spending to support its sport’s ecosystem, over a multi-year, multi-phase plan response to the expected financial impact generated by the coronavirus pandemic.
Brooks’ Jim Weber Discusses COVID-19’s Disruption
“This is a humbling time given the uncertainty of the path the health crisis will take and its impact on the economy,” Jim Weber, the CEO of Brooks Running Company, said in an interview with SGB Executive. Weber talks about the many ways COVID-19 has impacted Brooks, the brand’s recovery plan and running’s fresh appeal amid shelter-at-home life.
KAVU Lifts Spirits From The Feet Up With Timely Sock Donation To The University Of Washington Medical Center
Doctors and nurses agree: If you can’t make gowns and masks, send cool socks!
J.C. Penney Skips Interest Payment Amid Bankruptcy Fears
J.C. Penney said in a regulatory filing that it is considering “strategic alternatives” and has decided not to make a scheduled $12 million interest payment on a 2036 bond.
Brand Finance Report Sees Significant COVID-19 Impact On Apparel Sector
Nike retained its title as the world’s most valuable apparel brand, brand value up 7 percent, according to the Brand Finance Global 500 2020. However, the report found the apparel sector will be among the most affected by the COVID-19 pandemic.
Skechers’ Animal Welfare Movement Has Raised $5.45 Million
Skechers has made a donation of more than $509,000 to the Petco Foundation, bringing the company’s total contribution to over $5.45 million for animal welfare agencies.
Retail Sales Plunge In March, But Bloodbath Just Beginning
U.S. retail sales plummeted 8.7 percent to $483.1 billion in March from the previous month, their largest dip in three decades since the government started tracking the data, the Department of Commerce reported Wednesday. But that is just the first sign of what is sure to be a season-long bloodbath across the retail sector for any business not selling essential items such as groceries.
The Return Of Sports Remains Cloudy
With no signs of a coronavirus vaccine arriving anytime s soon, when it’s safe to play, many are uncertain and related concerns have been found in recent surveys. Even solo activities such as running and cycling are also facing challenges with social distancing guidelines and restrictions.
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