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Apex Global Brands Shrinks Q1 Loss

Apex Global Brands, the parent of Hi-Tec, Cherokee and Tony Hawk,  narrowed its loss in the first quarter despite a revenue decline due to the non-renewal of certain license agreements along with the impacts of COVID-19. The company received an extension of its forbearance agreement with its lenders, including a suspension of interest and principal payments.

Fitbit Introduces Ready For Work Solutions

Fitbit announced a new Ready for Work solution to help employers with the challenge of returning to the workplace during the COVID-19 pandemic. Fitbit’s Ready for Work solution gives employees access to key health metrics from their Fitbit device along with exposure, symptom and temperature logging, all within a Daily Check-In feature that provides employees with guidance on whether to go into the workplace.

McRae Industries Q3 Sales Drop 23 Percent

McRae Industries Inc., the maker of military combat boots and western and work boots, reported revenues for the third quarter of fiscal 2020 ending on May 2 of $14.29 million as compared to $18.6 million for the third quarter of fiscal 2019. The company experienced a net loss for the third quarter of fiscal 2020 in the amount of $504,000, or 22 cents a share, compared to net earnings of $386,000, or 16 cents, for the third quarter of fiscal 2019.

24 Hour Fitness Files For Bankruptcy

24 Hour Fitness has filed for bankruptcy after the COVID-19 pandemic forced its facilities to shut for months. The chain has permanently closed 100 U.S. locations in 14 states with roughly 300 clubs remaining.

Snow Season Dragged Down By Brutal March Results

Hit by a double-whammy of closures of stores and resorts to slow the spread of the coronavirus, sales across the snowsports industry were down 43 percent in dollars and 45 percent in units in the month of March according to SIA’s U.S. Snow Industry Retail Market Report. The tough month caused the snow industry to show a near mid-single-digit decline for the 19/20 snow season.

Aisle Talk Week Of June 8, 2020

On Monday, NYC started to reopen 100 days after the city reported its first case of the coronavirus. As the epicenter of the outbreak here in the U.S., many stores are offering curbside and in-store pickup. More top National Stories and the Latest Headlines across the Active Lifestyle Market during the week of June 8, 2020 follow in this week’s reporting in the SGB Updates.

Varsity Brands Offering $100 Million Of Debt

Varsity Brands Holding Co. and its Hercules Achievement subsidiary are jointly offering $100 million of senior secured notes due 2024. The proceeds will be used to pay down borrowings on its revolving credit facility.