April 09, 2020 Bass Pro Reduces Manager, Executive Pay
The chain, where three quarters of its 150 stores remain open because gun sales have been designated essential in many states, told employees that salaried employees will see pay reduced 7-15% and senior management will take a 20% pay cut. Varsity Brands Rating Lowered to Junk Status
The shutdown of schools is expected to cause a material decline in revenue and profit of the parent of BSN Sports, which also runs Varsity Spirit and Hercules Achievement, causing S&P to lower its rating on the company to CCC+ from B-. Nike Extends Lead as Top Teen Apparel and Sneaker Brand
Nike is now seen as the top clothing brand by 25% of teens, up from 23% last fall, and as the top footwear brand by 47%, up from 42%, according to the Spring 2020 edition of Piper Sandler’s Taking Stock with Teens survey.
Adidas and Carbon, its 3D Futurecraft sole provider, are collaborating to producing 3D-printed face shields for healthcare workers during the coronavirus pandemic. Yue Yuen Retail Sales Begin to Rebound
Chinese retail sales at YY’s Pou Sheng subsidiary dropped 38% in Mar. to $215,613,000 from $350,194,000 last year but that was considerably better than the 83% decline in Feb. due to store closures and reduced traffic from the coronavirus. Less than Half of U.S. Golf Courses Remain Open
Most golf courses in the Northeast, North Central and West have been shut down by bans on non-essential businesses and stay-at-home orders, but many courses in the southern U.S. are still open, according to NGF research. |