Daily News Feed
NRA Sues New York For Closing Firearms Retailers
The complaint argues that Governor Cuomo’s executive order denying gun retailers’ status as essential retail businesses deprives the state’s residents of their Second Amendment rights, violates due process rights granted by the Fifth and Fourteenth Amendments, and argues that the decision was politically motivated since the state has allowed retailers of liquor, pizza and donuts to remain open.
The Eager Beavertons launched an unusually aggressive, 25%-off all footwear sale on its website and shopping app, with exclusions limited to just a few high-end retro Jordans.
Dick’s has notified landlords that it is exercising the force majeure clause in its leases due to the Covid-19 pandemic, according to letters obtained by the Pittsburgh Business Times, and that it has right to abate all rent from the day a store first closed because of the virus.
Former Ravens and Panthers safety Haruki Nakamura, who left the league in 2013 after suffering a concussion, is suing Riddell and related entities for conspiring with the NFL to conceal the connection between head injuries and brain disease.
Jessica Junkins, an Innovator I at Nike, claims that she was paid less than men doing substantially similar work, and that the lower base pay also cost her opportunities for increased bonus compensation.
Under Armour Sees $475-525 Million in Restructuring Charges
The company’s board approved a previously announced restructuring plan aimed at lowering its cost structure that was under discussion prior to the full impact of the coronavirus outbreak being known.
SportCo Creditors’ Liquidation Trust has sued Wellspring Capital Management, various related entities and its principals, accusing them of gross mismanagement and self-dealing that ultimately resulted in the sporting goods distributor’s bankruptcy filing last summer.
Outdoor Retailer Summer Market has been cancelled, to no one’s surprise, after attempts to postpone or reschedule the event failed due to logistical issues and feedback from retailers, reps and brands.
Mixed Messages Continue on Tariff Deferral Policy
President Trump has sent mixed signals on his administration’s proposed tariff easing after optimistic news emerged on an import duties deferral for Chinese goods.
Firearms and ammunition sales are booming again, after three years in the doldrums, buoyed by fear-based demand as the coronavirus pandemic spreads.
Academy Sports stores will continue to remain open except where forced to close by local health departments, according to a letter from CEO Ken Hicks posted on the retailer’s website.
Under Dog saw Moody’s lower its ratings across the board, cutting its corporate family rating to Ba2 from Ba1, probability of default rating to Ba2-PD from Ba1-PD, senior unsecured notes rating to Ba2 from Ba1, and speculative grade liquidity rating to SGL-2 from SGL-1.
The bankrupt Sears and Kmart debtors are suing Icon to recover $7,350,254.05 paid to the exercise equipment company by Sears and $338,736.84 paid by Kmart, when both companies were insolvent.
Giant Bicycle is recalling about 2,700 pairs of VP Harrier and Giant Pinner DH bicycle pedals because the pedal body can separate from the pedal spindle.