Columbia Sportswear suspended its 2020 guidance, and also suspended share repurchases and its quarterly dividend after making the March payment. It had moved earlier to cut senior executives’ salaries—including CEO Tim Boyle’s to $10,000—and furlough retail employees after keeping them on payroll for four weeks. To shore up liquidity, COLM added $525 million in revolver commitments, plus an available $100 million extension, and has drawn down $325 million of that capacity so far. In addition, it has international uncommitted credit lines totaling about $106 million, on which it has drawn about $50 million.

Academy Sports is furloughing “a substantial number” of ... Log in to view full article.