SGB Update Apparel

Golf Rounds Played Slide In March

Golf rounds played for March 2020 fell 8.5 percent nationally compared to a year ago, according to Golf Datatech. Double-digit increases in the New England, East North Central and Mid Atlantic regions were offset by a steep decline in the Pacific region and smaller declines in the South Central and South Atlantic.

Stio Hires Senior Sourcing And Production Manager

Stio, the Jackson Hole-based outdoor apparel brand, hired Gena Calegari as its senior sourcing and production manager. Calegari was most recently the global production of maternity and plus at Old Navy.

HanesBrands’ Q1 Sales Drop 17 Percent

HanesBrands Inc. the parent of Hanes and Champion, reported earnings tumbled 77.3 percent in the first quarter as sales declined 17.0 percent. The company estimated that COVID-19 reduced GAAP and adjusted results by $181 million in net sales, $86 million in operating profit, and 20 cents per share in EPS.

Gildan Activewear Posts Q1 Loss After Charges

Gildan Activewear reported a net loss of $99.3 million, or 50 cents per share, in the first quarter after after-tax charges of approximately $110 million, or 56 cents per share. Excluding charges, adjusted earnings were down 65.9 percent as sales dropped 26.4 percent.

NCAA Outlines Plan To Let Athletes Make Endorsement Deals

The NCAA’s Board of Governors announced that it had approved recommendations under which student-athletes could receive income for third-party endorsements, as well as social media opportunities, other business ventures and personal appearances that fall within certain guidelines.

Soccer Parents See Soccer Returning This Summer

A survey of youth soccer parents from Soccer.com, the nation’s leading soccer-specialty retailer, finds 81 percent expect youth soccer to resume in their area by August 2020. Of those, 61 percent believe youth soccer will resume in their area by July 2020.

Inaugural Rock ‘n’ Roll Virtual Running Series Race Draws 11,000

A total of more than 11,000 people from 80 nations and all 50 states took part in the Rock ‘n’ Roll VR1, the inaugural event in the Rock ‘n’ Roll Virtual Running (VR) Series held last weekend. Rock ‘n’ Roll VR1 consisted of a 5K with participants having the ability to compete anywhere, indoors or outdoors.

Macy’s Debt Ratings Lowered

S&P Global lowered the debt ratings of Macy’s as the rating agency expects prolonged effects of social distancing and a weak environment for discretionary spending will intensify pressures on the department store sector. S&P said Macy’s also faces sizable upcoming debt maturities over the next several years and potential covenant compliance issues under its revolving credit facility.

Adidas’ Q1 Revenues Drop 19 Percent

Adidas AG reported first-quarter earnings tumbled 97 percent. Sales slumped 19 percent on a currency-neutral basis. Adidas also warned the second-quarter results would decline to a greater degree.

Northwest Company Files For Bankruptcy Protection

The Northwest Company LLC, a manufacturer of league licensed blankets, packs and other items, filed for bankruptcy protection in the Southern District of New York. The filing was blamed on a failed acquisition, quality issues at a third-party vendor, tariffs and general weakness at retail in recent years.

Ross Stores Donates $1.5MM To COVID-19 Relief Efforts

Ross Stores, Inc. announced that the company and the Ross Stores Foundation have jointly pledged $1.5 million of donations to local and national organizations providing essential COVID-19 relief services and additional support to our associates.