SGB Update Apparel

Tilly’s Inc. Announces Additional Actions In Response To COVID-19

In an effort to further improve its financial position and liquidity in light of the COVID-19 pandemic, Tilly’s announced that it has borrowed the maximum available under its credit facility and furloughed all non-management store associates and a portion of its corporate office staff.

Kathmandu Shutters Locations, Rolls Out Cost-Containment Efforts

Kathmandu Holdings Ltd said its New Zealand retail stores and distribution centers were closed on March 24 and is in the process of closing its Australian stores as a result of the coronavirus. The company also introduced a number of steps to conserve liquidity and streamline the business in the current environment.

Under Armour Draws Down Revolver

Under Armour said in a regulatory filing that it borrowed $700 million under its credit facility as a precautionary measure in order to increase its cash position and preserve liquidity given the uncertainty in global markets resulting from the COVID-19 outbreak. 

Ross Stores To Cancel Orders Through Mid-June

Ross Stores in a letter to vendors on Thursday said it would cancel all merchandise purchase orders through June 18 as a result of the impact of the coronavirus on sales.

City Of Fresno Declares Sporting Goods Essential Retail

Sporting goods stores in Fresno, CA have been allowed to reopen as essential businesses, city leaders announced. Officials said many of the stores sell essential items including food, water, emergency supplies, ice, food storage, propane, and cooking supplies.

Fanatics Partners With MLB To Make Masks And Gowns For Health Professionals

Fanatics in a partnership with Major League Baseball has halted jersey production efforts and is repurposing its 360,000-square-foot manufacturing plant in Easton, PA to immediately begin making masks and gowns. The items will be made with the exact same jersey fabric that the players wear on the field.

USA Triathlon Statement On Postponement of Tokyo Olympics

USA Triathlon issued a statement in response to the International Olympic and Paralympic Committees’ respective announcements that the Olympic and Paralympic Games Tokyo 2020 will be postponed to 2021 due to ongoing logistical and public health concerns surrounding the COVID-19 global pandemic.

U.S. Road Race Participation Declines 2.7 Percent For 2019

The number of runners registering for organized races in the U.S. was down slightly in 2019, continuing a six-year gradual drawback of mass participation in recreational road racing. According to Running USA data analysis, the industry peaked in 2013, when 19 million runners crossed the finish line at U.S. running events over all distances.

Nordstrom To Extend Store Closures Another Week

Nordstrom Inc. announced it will extend its temporary store closure for at least one week through April 5. The retailer also said its top leaders will decline their salary from April through September and a portion of corporate employees will be furloughed starting April 5 for six weeks.

Modell’s Seeks Suspension Of Bankruptcy Case

Modell’s Sporting Goods is seeking a 45-day suspension in its Chapter 11 case claiming the COVID-19 pandemic has made it impossible to conduct going-out-of-business sales.