SGB Update Apparel
Fleet Feet Celebrates Global Running Day With Nationwide Virtual Running Event
With physical distancing precautions still in place across the country, Fleet Feet announced its fourth annual Global Running Day event. The Big Run will take place virtually this year. Shifting names to My Big Run, the June 3 Global Running Day initiative will take place in partnership with Brooks.
Survey Finds Runners Hesitant To Return To Running In Groups
According to a survey of runners from the Road Runners Club of America (RRCA), 60 percent are comfortable running with five or fewer people once a return to larger group running is permitted. Fifty-one percent are comfortable with 10 or fewer runners, but the percentage of comfort drops significantly when group runs start to see 20 or more participants.
MLB Proposes 82-Game Season Starting In July
Major League Baseball agreed on a proposal for an 82-game season that would start without fans in early July.
Outerstuff’s Debt Rating Lowered
Moody’s Investors Service lowered the debt ratings of Outerstuff LLC, the supplier of branded youth apparel for the major sports leagues. The downgrade reflects Outerstuff’s missed term loan principal and interest payments that were due March 28, 2020, and it enters into a forbearance agreement with term loan lenders on April 6, 2020.
Hanesbrands CEO Plans To Serve As Consultant In 2021
Hanesbrands Inc. announced that Gerald Evans Jr. will stay on as a consultant for a year after he retires as CEO at the close of this fiscal year.
Arc’teryx Equipment Appoints Katie Becker As First VP Creative
Arc’teryx Equipment has named Katie Becker as the brand’s first VP creative. Becker joins Arc’teryx after a 12 plus year career with Adidas, where she recently served as senior global design director.
Nike Tops Stage Stores’ Unsecured Creditors List
Nike Inc. was left with the largest unsecured claim in the bankruptcy filing of Stage Stores. Skechers, Adidas and Columbia Sportswear were also among the Top 20 unsecured creditors.
Report: Penney Bankruptcy Possible This Week
J.C. Penney is preparing to file for bankruptcy and plans to close about 200 of its 850 locations, Reuters reported.
Study Finds Shoppers Still Don’t Feel Safe Trying On Apparel In Stores
As stores reopen across the country, a recent study by First Insight found that the majority of consumers (54 percent) are ready to buy apparel in-store, followed by home improvement (36 percent) and footwear (32 percent).
Under Armour’s Q1 Revenues Tumble 23 Percent
Under Armour, Inc. reported sales fell 23 percent in the first quarter with approximately 15 percentage points of the decline related to COVID-19. The loss came to $589.7 million after restructuring charges in the first quarter, and the loss before charges was below Wall Street’s target.
Belk Reopens Additional Stores Across The South
Belk announced it will continue to open stores across its 16-state footprint following temporary closures due to COVID-19. On May 8, stores in Florida, Texas, Alabama and Mississippi opened. North Carolina stores will officially open on May 11.
Nordstrom Reveals Locations Of 16 Stores To Close
Nordstrom provided a list of 16 full-line stores it plans to close. On May 6, Nordstrom announced plans to permanently close 16 of its 116 full-line stores and announced other additional actions to increase flexibility and agility in response to COVID-19.
Stage Stores Files For Bankruptcy
Stage Stores Inc. filed for bankruptcy protection. The company will simultaneously solicit bids for a going concern sale of the business or any of its assets and initiate an orderly wind-down of operations. The company will terminate the wind-down of operations at certain locations if it receives a viable going-concern bid.
Tilly’s Q1 Revenues Drop 41 Percent
Tilly’s Inc. reported sales in the first quarter fell 41 percent due to COVID-19-related store closures despite a 55 percent hike in online sales. The action sports retailer also announced certain store reopening plans and provided other business updates, including plans to withhold rent payments for April and May.
Roots To Close Five U.S. Stores
Roots, the Canadian outdoor lifestyle brand, said it is permanently closing its stores in Boston, Washington and Chicago, as well as its pop-up location in Woodbury Common, New York. Two stores in Michigan and Utah will remain open.
