SGB Update Sports & Fitness
Hibbett Sports Delivers 4 Percent Q4 Comp Gain
Hibbett Sports Inc. reported earnings on an adjusted basis, slid 14.5 percent in the fourth quarter, missing Wall Street’s guidance. Same-store sales grew 4 percent, its fifth consecutive quarter of comparable sales growth. The chain is not providing 2020 guidance due to the coronavirus. Mike Longo, CEO, said, “We believe we have ample liquidity and financial flexibility to navigate this period of uncertainty while positioning Hibbett for future success.”
New Balance Closes Stores, Offices And Factories Amid Coronavirus Concerns
New Balance is temporarily closing its offices, factories and owned stores in the United States, Canada and Western Europe from March 16 until at least March 27 in response to the COVID-19 pandemic.
Dunham’s Sports Taking Precautionary Measures To Combat COVID-19
Dunham’s Sports said it taking extra safety measures in response to the coronavirus outbreak. The steps include an enhanced cleaning and sanitization schedule at all stores, directing staff to stay home if they are showing any flu-like symptoms, and increasing staffing levels in high traffic areas to reduce wait time.
Academy Sports Adjusts Hours For Extra Cleaning
Academy Sports & Outdoors said that effective Wednesday, March 18, 2020, it updated its store hours to allow additional time for intensive cleaning in response to the coronavirus.
Under Armour Pledges Up To $2M For Community Support
Under Armour is donating $1 million to Feeding America to support hunger relief efforts as a result of current school closures and quarantines. The brand also pledged to donate up to $1 million in a combination of monetary donation and product to Good Sports as part of a 30-day Healthy at Home fitness challenge.
SportChek Faces Temporary Closings On Coronavirus Measures
Canadian Tire Corp. announced that in response to the growing concern surrounding COVID-19, it will reduce operating hours at Canadian Tire Retail and temporarily close its other retail stores, including Mark’s/L’Équipeur, SportChek, Atmosphere, Party City, Pro Hockey Life, National Sports and PartSource.
Dick’s To Close For Two Weeks
Ed Stack, Dick’s Sporting Goods’ CEO, announced that the retailer will close its locations from March 19 until April 2 “in support of the nation’s efforts to stop the spread of COVID-19.” In a regulatory filing, Dick’s also said it has experienced a “significant reduction in customer traffic and demand” since March 10 and was withdrawing its guidance for the year.
New Wave Group Sees Significant Impact From Coronavirus
New Wave Group, the Swedish-based owner of Ahead, Auclair, Craft and Cutter & Buck, said it is largely affected by the spread of the coronavirus. The demand for the group’s products and services is expected to be significantly reduced for all operating segments during the remainder of the first calendar quarter of 2020.
Tara McRae Becomes TB12’s First Chief Marketing Officer
TB12, the performance lifestyle brand co-founded by six-time Super Bowl champion Tom Brady and business partner Alex Guerrero, announced Tara McRae, a former executive at Clarks and Puma, as the company’s chief marketing officer.
Amazon Warehouses Will Stop Accepting Non-Essential Items Amid Covid-19 Outbreak
Amazon is stopping sellers from sending non-essential items to its U.S. warehouses until April 5 to make space for vital items needed by its customers during the coronavirus outbreak.
Adidas To Temporarily Shutter Doors In The U.S., Canada And Europe
Adidas is temporarily shuttering all stores in the U.S., Canada and Europe according to Business Insider. The closures came one day after a leaked internal memo saw CEO Kasper Rorsted assuring employees stores would stay open.
Major Fitness Clubs Announce Temporary Closures
Fitness International, LLC, operator of L.A. Fitness, City Sports Clubs, Esporta, announced that it will temporarily close all gyms in an effort to slow the spread of the coronavirus.
Deckers Brands Outlines COVID-19 Response
Deckers Brands announced actions the company is taking in response to Covid-19.
Adidas To Keep U.S. Stores Open, For Now
In an e-mail to Adidas and Reebok retail employees Monday morning, Adidas CEO Kasper Rorsted wrote that the company is not yet shuttering its U.S. stores because of the coronavirus. Rorsted wrote, “We have to keep the company going and open for business to ensure that we can pay our monthly bills and salaries to everyone. Closing down is easy, staying open in a healthy environment requires courage, persistence and focus.”
Foot Locker To Shutter Stores Due To Coronavirus, Withdraws Guidance
Foot Locker Inc. says it will close stores across North America, EMEA (Europe, Middle East and Asia) and Malaysia from March 17 through March 31.
