A $174 million non-cash impairment charge for the Jack Wolfskin goodwill and trade name sent the bottom line $167,684,000 into the red from $28,931,000 in prior year income, as revenues dropped 34% to $296,996,000 from $446,708,000 for the second quarter. Management said the charge was motivated by Covid impacts and a weaker Euro than originally anticipated, but stands by the brand for its overall apparel business and strategy.

The top line impact was softened by June sales hitting 8% growth year over year, led by a 21% rebound in the golf equipment segment. Golf equipment lost 28% to $209.9 million on ... Log in to view full article.