Standard & Poors lowered the debt ratings of Varsity Brands Co. Inc., the parent of Varsity Spirit, Herff Jones and BSN Sports, as the COVID-19 pandemic is leading to a growing number of school closures and event cancellations. An emphasis on social distancing and restrictions on large gatherings are also disrupting the company’s business, the rating agency noted.
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Chris Paul And Trae Young Headline First-Ever NBA HORSE Challenge
ESPN, the NBA and the National Basketball Players Association (NBPA) announced that Chris Paul, Trae Young and Tamika Catchings will headline the list of eight NBA and WNBA players and legends who will participate in the new NBA HORSE Challenge.
NFL To Raise Funds For COVID-19 Relief Efforts
The NFL announced that the 2020 NFL Draft will serve as a three-day virtual fundraiser benefiting six charities – selected by the NFL Foundation – that are battling the spread of COVID-19 and delivering relief to millions in need.
New Balance Undergoes Furloughs
New Balance has decided to furlough a “portion” of its retail, factory and office workers because of the coronavirus pandemic. The decision will not impact factory workers in Lawrence, MA and Norridgewock, ME who are producing general use face masks for first responders.
Winnebago Announces Business Updates Related To COVID-19
Winnebago Industries Inc. provided an update on additional actions the company is taking in response to the COVID-19 pandemic including its manufacturing operations and ongoing cost containment and financial management initiatives.
Kahtoola Focuses on Local Giving During COVID-19
Donations Support Grand Canyon’s Havasupai Tribe and Flagstaff Family Food Center
Survey: Teens Still Embracing Sneaker Culture
Sneaker culture is alive and well among teenagers, especially males, even as teens’ overall spending has declined amid the coronavirus, which has quickly become one of their top concerns. That was one of many key takeaways from investment bank Piper Sandler, which published its semi-annual Taking Stock With Teens Survey this week.
Bass Pro Reduces Pay For Executives And Store Managers
Bass Pro’s senior leadership is taking a 20 percent cut in pay as part of a move to absorb the coronavirus fallout, according to a company memo attained by Forbes. Pay for store managers, distribution center managers and other salaried employees will be reduced by 7 to 15 percent.
Stay Home, Play At Home, Nike Gives All Athletes The Digital Resources To Stay Active Indoors
Supporting the shift to stay home amidst the coronavirus, Nike is giving all athletes the digital resources they need to stay active indoors with free tools that span a range of digital content and platforms
The Conservation Alliance Grants $945,000 To 49 Conservation Groups
The Conservation Alliance announced it has sent grants totaling $945,000 to 49 organizations working to protect and defend wild places in North America.
Nautilus’ First-Quarter Results Exceed Guidance
Nautilus Inc. reported first-quarter sales rose 11 percent and earnings exceeded expectations although it said it will no longer be providing guidance for the year as the “longer-term impacts of COVID-19 are highly uncertain and cannot be predicted with confidence.”
Nike, Lululemon Make Strides In Piper Sandler Teen Survey
Nike and Lululemon each made gains as preferred brands among Generation Z in Piper Sandler Cos.’ 39th semi-annual Taking Stock With Teens survey, released Wednesday.
SIA’s Nick Sargent On What Lies Ahead For Snow Sports Industry
In another installment of SGB Executive’s series of interviews with industry leaders exploring how businesses are coping with the coronavirus, Nick Sargent of Snowsports Industries America dishes on these troubling times for snow sports businesses, how SIA is responding and why he’s confident the industry will come back stronger than ever.
Puma Reopens First Location In Wuhan, China
Puma has re-opened its store in Wuhan, China, the city where the coronavirus was first reported. The company plans to re-open its five other stores in the greater Wuhan region by mid-April.
HanesBrands Takes Actions to Navigate COVID-19 Pandemic
HanesBrands, the parent of Champion, announced that it is taking actions to navigate the global economic environment caused by the COVID-19 pandemic, including limiting discretionary spending, reducing executive pay, managing inventory, leveraging the company’s e-commerce business across the online channel, and diversifying production to include face masks.
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