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The North Face Commits $1 Million In Grants To COVID-19 Recovery Efforts

The North Face announced it will join in the fight against the COVID-19 pandemic with the donation of $1 million in grants through its social advocacy platform, The Explore Fund, as well as the donation of 60,000 gloves to U.S. healthcare professionals and first responders.

Authentic Brands’ Debt Ratings Downgraded

Authentic Brands, which owns a portfolio of over 50 brands that include Spyder, Tretorn, Tapout, Prince and Volcom, had its debt rating downgraded and outlook reduced by Moody’s Investors Service due to disruptions caused by the coronavirus. 

Nike Announces Additional Round Of COVID-19 Donations

Nike Inc. will provide an additional $1.6 million to help local organizations meet immediate needs, such as food assistance and medical care, in key cities and communities around the world where its employees live and work.

Acushnet Withdraws Guidance Due To Coronavirus Disruption

Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, said in a regulatory statement it has withdrawn its guidance for 2020 and increased borrowings under its credit facility due to the “unprecedented uncertainty” caused by the coronavirus pandemic.

Nordstrom Appoints Two New Board Members

Nordstrom Inc. announced the appointment of two new members to its Board of Directors: Jim Donald, co-chairman of Albertsons Companies, Inc., and Mark J. Tritton, president and chief executive officer of Bed Bath & Beyond.

Under Armour Announces COVID-19 Actions, Details 2020 Restructuring Plan

Under Armour Inc. announced actions it is taking to address the financial impact of the COVID-19 pandemic. Additionally, the company’s Board of Directors has approved a previously planned restructuring initiative designed to rebalance its cost base to further improve future profitability and cash flow generation.

Fanatics Partners With New England Patriots

The New England Patriots and Fanatics announced a 10-year e-commerce partnership that will have Fanatics operate the online and mobile retail merchandise business for the six-time Super Bowl champions. The team will continue to operate their Patriots Pro Shop stores at Gillette Stadium and Patriot Place.

Puma SE To Suspend Dividend Payment

Puma SE said it is suspending dividend payment, as well as reducing expenses and securing additional financing, as the coronavirus pandemic has caused a “major decline in net sales and cash inflow.”

Canadian Tire Taking Measures To Preserve Liquidity

Canadian Tire Corp. said it is taking aggressive action to preserve its cash position and financial flexibility. The company also noted that online sales at SportChek are running strong amid the coronavirus pandemic as Canadians purchase health and fitness products. 

Running Event Organizers Seek Coronavirus Relief

Running USA along with Spartan Race, Ironman, Tough Mudder, Rock & Roll Marathon Series, USA Triathlon, USA Cycling, and imATHLETE / EnMotive has joined together to ask Congress for relief from canceled and postponement of events due to the coronavirus.

Boardriders Announces Coronavirus Response  

Boardriders Inc., the parent of Quiksilver, Billabong, Roxy, DC Shoes, RVCA and Element, announced today that it is taking a range of actions to respond to the global health crisis, as well as the associated demand impact that government-mandated shutdowns have had on its business.