Sporting Goods Industry News for November 25, 2020
Wishing everyone a healthy and happy one. We’ll resume publishing SGI NewsWire on Nov. 30.
Industry sneaker, apparel and equipment imports inched up 1.1% in the third quarter to $5,373.3 million from $5,315.2 million last year, recovering from two quarters of double-digit declines, but the gains were limited to just a few categories, and softgoods are still lagging.
The Indonesian retailer’s net loss for the nine months ended Sep. 30 was IDR 113,695 million ($7.7 mm) against a profit of IDR 537,370 million last year, on 40% lower revenues of IDR 3,209,350 million ($218.1 mm) down from IDR 5,372,394 million hurt by that country’s efforts to control the Covid-19 pandemic.
The Big a retained the investment bank to assist in the ongoing effort to find a buyer for the Reebok brand, the New York Times reported, noting that the sale was expected to yield about $1 billion.
Net income at the multi-banner Japanese retailer jumped nearly ten fold to ¥3,375 million ($31.8 mm) in the first fiscal quarter ended Sep. 30 from ¥341 million last year powered by a 390 basis point expansion in gross margin to 42.6% and an 8% reduction in SG&A.