SGB Update Apparel
NRF Issues Statement On Incidents At Retail Stores
In response to the incidents involving retailers following the death of George Floyd, NRF’s President and CEO Matthew Shay said in a statement, “Defacing, looting and plundering businesses, whether viewed as a direct outgrowth of fury or an opportunistic act of vandalism and theft, impedes progress and healing.”
VF’s CEO In Employee Memo Compares Racism To Virus
In a letter sent May 30 to all employees entitled, “Racism is another virus to eradicate,” VF chairman, president and CEO Steve Rendle called George Floyd’s death “tragic” and “stomach-churning” — and likened racism to the coronavirus pandemic.
Columbia Sportswear’s CEO Speaks Out Against Racism
In a letter to employees, Tim Boyle, chairman, president and CEO, of Columbia Sportswear, said the company fully supports “all victims of racism and all who speak out and act against racial injustice.”
L.L.Bean And National Park Foundation Receive 2020 Silver Halo Award
The National Park Foundation (NPF) and L.L.Bean were awarded the 2020 Silver Halo Award winner in the experiential/event category. In 2019, L.L.Bean leveraged its Find Your Park partnership with NPF to bring its S’more out of Summer campaign to life.
Roger Federer Ranked By Forbes As Sports Top Earner
Roger Federer became the first tennis player to rank as the world’s highest-paid athletes in Forbes’ 30-year history of ranking athlete earnings.
Sports Industry Takes A Stand Against Racial Injustice
Nike, Foot Locker Adidas, Brooks, Nordstrom, New Balance, and Under Armour were among the companies in the active lifestyle industry issuing statements and messages appealing for solidarity against racism amid the protests in the U.S. over the death of George Floyd.
National Park Visits Show Some Recovery In May
National park visits were down 2.3 percent in May after falling 22.8 percent in April and 16.4 percent in March amid park closures and social-distancing restrictions, according to the National Parks Service.
NCAA Survey Shows Student-Athletes Grappling With Mental Health Issues
Since college sports were halted by the COVID-19 pandemic in March, most respondents in an NCAA student-athlete well-being survey reported experiencing high rates of mental distress. The survey, which was open from April 10-May 1 and had responses from more than 37,000 student-athletes, also showed 82 percent of respondents reported feeling positive or very positive about the support they are receiving from their coaches.
Roots Appoints Meghan Roach As Chief Executive Officer
Roots, the Toronto-based outdoor lifestyle brand, announced that after completing a search conducted by a leading international recruiting firm, the company’s Board of Directors has appointed Meghan Roach as chief executive officer. She replaces Jim Gabel.
Premier League To Return June 17
The English Premier League, the most-watched league in the world, has agreed to a provisional return on June 17. Due to COVID-19, matches will take place behind closed doors.
Nordstrom’s Q1 Revenues Sink 40 Percent
Nordstrom Inc. reported a loss of $521 million in the first quarter that included impairment charges related to store closures, premium pay and benefits and restructuring charges. The retailer said the quarter reflected actions to strengthen its financial flexibility through inventory and overhead cost reductions and position the business for the long-term through an acceleration of its strategic initiatives.
Burlington Stores Q1 Sales Decline By Half
Burlington Stores Inc. reported revenues tumbled 51 percent in the first quarter ended May 2 as all of the off-price stores closed on March 23 and remained close for the remainder of the quarter. Over 400 stores will have reopened by this weekend.
Murray State Partners With Nike, BSN Sports
Murray State Athletics announced a new multi-year partnership with Nike, serviced by BSN Sports. Murray State joins the BSN Sports Collegiate Select program benefiting all 15 sports programs.
JCPenney Reopens 150 More Stores
JCPenney, which filed for bankruptcy protection on May 15, said it has reopened 150 more stores bringing the total number of locations that it has reopened during COVID-19 to 304. Nearly 500 stores should be reopened by June 3
Decathlon’s Debt Ratings Affirmed By S&P Despite COVID-19 Impact
S&P Global Ratings said it expects Decathlon’s sales, earnings and cash generation “will decline sharply” in 2020 versus 2019 due to government COVID-19 lockdown measures that closed the majority of its stores. But the rating agency affirmed its ‘A-2’ short-term rating on the company as it expects the French sporting goods chain’s strong record of 10 percent to 15 percent annual growth to resume in 2022.
