Net income was sliced by 78% to C$12.5 million ($9.4 mm) against C$58.0 million on revenues down 38% to C$194.8 million ($146.2 mm) from C$294.0 million for the fiscal second quarter ended Sep. 29. Wholesale revenue took a 46% hit to $118.5 million in its traditionally largest quarter on continued pandemic impacts. After a near total shutdown in FQ1, slowly resuming sales still contended with a significant reduction in the planned order book, and requests from partners and international distributors for later shipment timing compared to the prior year.

Total DTC sales fell 38% to C$46.2 million in a seasonally slow ... Log in to view full article.