SGB Update Apparel
Tilly’s Q4 Earnings Slump
Tilly’s Inc. said a higher-than-expected decline in store traffic and comparable sales during the second and third weeks of December resulted in a disappointing fourth quarter.
Zumiez Q4 Earnings Jump 28 Percent
Zumiez Inc. reported fourth-quarter earnings rose 28.0 percent and topped Wall Street’s targets. Same-store sales increased 6.4 percent and grew 5.8 percent in February.
Running Races Suspended Or Cancelled
The NYC Half Marathon and New Balance Indoor Nationals, both scheduled for this weekend, have been canceled while the Spartan Race in San Luis Obispo, CA, also set to take place this weekend, has been postponed.
Coronavirus Has Disrupted Supply Chains For Nearly 75 Percent Of U.S. Companies
According to a survey from the Institute for Supply Management (ISM), nearly 75 percent of companies report supply chain disruptions in some capacity due to coronavirus-related transportation restrictions, and more than 80 percent believe that their organization will experience some impact because of COVID-19 disruptions.
Hibbett Announces Departure of Cathy Pryor As SVP Operations
Hibbett Sports Inc. announced the departure of Cathy Pryor as senior vice president of operations and the promotion of Benjamin Knighten to senior vice president of operations.
Canadian Tire Appoints New CEO
Canadian Tire Corporation Ltd., the parent of SportChek and Helly Hansen, appointed Greg Hicks as president and chief executive officer of Canadian Tire Corporation.
Modell’s Files For Bankruptcy, Plans To Liquidate
Modell’s Sporting Goods filed for Chapter 11 bankruptcy protection in New Jersey. The family-owned retail chain will begin liquidation sales in all stores and plans to continue its online sales during the process.
Roger Federer Gets RF Logo Back From Nike
Roger Federer, who left Nike to join Uniqlo in 2018, has obtained the rights to his “RF” logo from Nike, according to Tennis.com.
USA Cycling Announces Jim Miller’s Return As Head Of Elite Athletics
USA Cycling President and CEO Rob DeMartini announced Scott Schnitzspahn’s resignation and Jim Miller’s return to USA Cycling.
Academy Sports Partners With Big 12
The Big 12 Conference and Academy Sports + Outdoors announced a new multi-year partnership featuring the first-ever title sponsorship of Big 12 Football Media Days.
HanesBrands Announces Executive Leadership Succession
HanesBrands, the parent of Champion, announced that Gerald W. Evans Jr. has notified the company’s board of directors of his decision to retire at the end of the current fiscal year, which ends Jan. 2, 2021.
Puma Withdraws Guidance Due To Coronavirus Uncertainty
Puma said it no longer expects its business will return to normal soon, despite encouraging signs coming out of China, adding it was abandoning the 2020 guidance it gave on February 19 that had assumed the crisis would be short-lived.
Adidas Warns Of 10 Percent Q1 Revenue Decline
Adidas said it expects first-quarter sales to fall more than 10 percent as revenues in Greater China tumble between €0.8 billion and €1.0 billion below the prior-year level due to the coronavirus outbreak. The guidance assumes a decline of about €100 million in Japan and South Korea while the rest of the world grows at a currency-neutral 6 percent to 8 percent.
RYU Apparel Appoints New CEO
RYU Apparel Inc., the Vancouver-based activewear brand, announced the resignation of Marcello Leone from his position as CEO and president. Cesare Fazari was appointed interim CEO, effective immediately.
Dick’s Q4 Earnings Beat Targets, To Remove Hunt From 440 Stores
Dick’s Sporting Goods reported fourth-quarter earnings topped Wall Street’s expectations as same-store sales rose 5.3 percent. The retailer also announced it was removing the hunt category from another 440 stores.
