SGB Update Outdoor
Academy Sports Remains Open For Business
Academy Sports + Outdoors said in a letter to customers that almost all of its stores and all three of its DCs remain open for business. The retailer said it has been determined to be an essential retailer by several CISA sector standards in part because the retailer’s products are used to counter severe weather season in the southwest region.
Helen Of Troy Provides COVID-19 Update
Helen of Troy, the parent of Hydro Flask, said its executive leadership team is taking temporary salary reductions and it’s introducing cost-containment efforts in response to the impact of COVID-19 on the current business environment. Borrowings were also increased under its credit line.
L.L.Bean CEO Calls On Federal Government To Assist Middle-Market Retailers
In an interview on CNBC, L.L.Bean CEO Stephen Smith contended that the recently passed $2 trillion stimulus package does not address “middle market retail” companies such as his.
Columbia Sportswear CEO Tim Boyle Cuts Own Salary To $10K, Employees To Receive Regular Pay
Tim Boyle, president and CEO of Columbia Sportswear, will be reducing his annual salary to $10,000. The company plans to continue to offer regular pay to its employees, including those at stores, during the COVID-19 pandemic.
Amer Sports’ Debt Ratings Downgraded
Moody’s assumes Amer Sports’ revenue in 2020 will decline over 20 percent year-on-year due to the worldwide spread of the coronavirus outbreak, particularly across Europe and North America. The ratings agency cited Amer’s products are “highly discretionary” and current restrictions on many traveling and sports activities.
Wolverine World Wide’s Debt Ratings Outlook To Negative; Liquidity Rating Downgraded
The ratings agency said the outlook change to negative reflects the risk that a prolonged downturn triggered by the rapid spread of the coronavirus (COVID-19) will pressure Wolverine’s revenue and profitability, as well as its ability to reduce leverage over the near-to-intermediate term.
NSSF Donates $25,000 In Support of Newtown And Region’s Virus Responders
The National Shooting Sports Foundation, the trade association for the firearm industry based in Newtown, CT, has made donations totaling $25,000 to three groups supporting the health and welfare of Newtown residents in response to the COVID-19 pandemic.
Bass Pro’s Debt Ratings Outlook Lowered To Negative
Moody’s changed its debt rating of Bass Pro Group, L.L.C. to negative from stable. The change in outlook to negative from stable reflects the risk that Bass Pro’s credit metrics may weaken on a sustained basis as a result of recessionary conditions and declines in discretionary consumer spending.
USA Cycling Sees 30 Percent Revenue Decline In 2020
USA Cycling said it made the difficult but necessary decision to reduce its staff size by 15 percent and place an additional 25 percent on furlough for two to four months in anticipation of a 30 percent revenue reduction due to the COVID-19 coronavirus pandemic.
Bass Pro’s Flagship In Springfield Closes Temporarily
Bass Pro Shops’ flagship store in Springfield, MO is temporarily closing amid the Coronavirus pandemic due to new stay-at-home orders in the state. The retailer already noted that it had reduced hours and limited access to 25 customers at a time.
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.
Montane Appoints Andy Towne As Chair Of Board
Montane, European specialist brand of outdoor apparel and equipment, announced the appointment of Andy Towne as Chair of its Board of Directors on March 20, 2020.
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.
Acquisitions, Firearms, E-Commerce Fuel Sportsman’s Warehouse In Q4
Sportsman’s Warehouse Holdings Inc. reported net sales for the fiscal fourth quarter of $258.2 million, up 6.4 percent from $242.7 million in the prior-year quarter. The net sales increase was primarily due to a strong performance from eight acquired stores, momentum in the firearm and ammunition categories in January and growth in its e-commerce business.
Target Provides Business Update To COVID-19
Target Corp. said that as the COVID-19 crisis has evolved, the company has been experiencing unusually strong traffic and sales. As a result, the company has adjusted the expected timing of some of its strategic initiatives.
