April 17, 2020
Plunging demand is closing factories and pushing down input costs throughout the Asian supply chain as factories try to adjust their output to a market where there is still little clarity about when consumer spending will return to more normalized levels.
The ratings agency downgraded Academy’s corporate family rating to Caa2 from Caa1 and cut its probability of default rating two steps to Caa3-PD from Caa1-PD, while affirming its Caa2 senior secured term loan rating.
Spaletto will resign as president of WWW’s Michigan Group on or before May 30, according to an Apr. 15 agreement revealed in an SEC filing, which said the separation was not based on any disagreement relating to operations, policies or practices of the company.
DLA sales slipped 6% in its fiscal second quarter ended Mar. 30 to $96.7 million from $102.8 million, due to the impact of Covid-19 store closures late in the quarter.
U.S. sneaker sales were off 73% in the week ending Apr. 11, according to NPD, a slight sequential improvement over the prior two weeks.
Conzzeta Group’s outdoor segment, which basically consists of Mammut Sports Group, suffered a 28% drop in revenues to CHF50.8 million ($52.3 mm) in the first quarter, which it attributed to retail store closures due to the coronavirus pandemic.