Just after the announcement of Intersport Sweden’s court-backed reorganization plan, the country’s biggest sporting goods retailer, Stadium, indicated that it was laying off many of its employees because of a big drop in sales, especially in the Stockholm area.
Sweden is one of the few countries where retailers that sell non-essential goods are still allowed to keep their stores open, with social distancing. However, Ulf Eklöf, chief executive of Stadium, told the Uppsala New Magazine that its sales have fallen by up to 80 percent at its stores in the country. Similar rates of decline have been recorded in Norway, where the chain recently introduced its Stadium Outlet concept, and in Finland.
Stadium has decided to part ways with 653 people in Sweden – mostly temporary staff, apprentices and other kinds of non-permanent employees. It is reconsidering the employment of another 1,000 employees with whom Stadium has short-term contracts, and engaging in discussions with landlords about rents.
Furthermore, Stadium is trying to shift the production of some of its private label items from certain countries around China to China itself, where the factories are working again.
