July 21, 2020
Defying the backdrop of multiple GOB sales from store closings and the uncertainty of school schedules because of the pandemic, HIBB said its forecast for a 70% comp store increase in the Back-to-School quarter was largely driven by strong demand for fashion footwear and apparel and was considerably boosted by the acquisition of new customers.
New high school sports plans released this month have ranged from complete cancellation of the football season, to other states defying the coronavirus pandemic entirely and proceeding with normal schedules.
Net income slipped 26% in the second quarter to SEK312 million ($32.2 mm) from SEK419 million on sales that were down 12% to SEK2,043 million from ($210.6 mm) SEK2,311 million blamed on widespread lockdowns in Europe and North America due to the coronavirus pandemic.
Echelon Fitness accused Peloton of trying to stifle competition by “asserting facially-overbroad patents that seek to monopolize the abstract idea of offering competitive exercise classes online,” in a counterclaim filed against its rival.
The Eager Beavertons have signed on with Microsoft, Starbucks and six other large companies to found the initiative, which will focus on the business transformations needed to achieve net zero emissions by 2050.
The Authentic Brands Group-owned skate and surf brand is partnering with Chinese retail developer China Ting Group to open monobrand stores there.