SGB Update Apparel
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.
The 2020 Boston Marathon Has Been Canceled
The Boston Marathon has been canceled for the first time in its 124-year history. The Boston Athletic Association (B.A.A.) said Thursday that they instead will have a “virtual event” in which participants who verify that they ran 26.2 miles on their own will receive their finisher’s medal.
Foot Locker Supports Student Scholarships
For the ninth consecutive year, the Foot Locker Foundation has awarded $20,000 scholarships to 20 exceptional students.
Under Armour Announces Phased Store Reopenings In North America
Under Armour announced details for the phased reopening of its owned stores in North America. The company reopened its first U.S. stores to customers on May 15, and opened additional stores last week. By this Friday, Under Armour will have welcomed customers back to nearly 50 percent of its North America stores.
Retailers Said Pandemic Risk Insurance Act Would Provide ‘Greater Reliance’ In Future Outbreaks
The National Retail Federation (NRF) welcomed the introduction of the Pandemic Risk Insurance Act, which would establish a federal program to help businesses obtain insurance coverage for pandemics modeled on a system for terrorism insurance established following 9/11.
