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Under Armour Divests Myfitnesspal After Solid Q3
Under Dog recorded a $74,201,000 restructuring and impairment charge that pulled net income down to $38,946,000 for the third quarter, a 62% decline from last year’s $102,315,000 bottom line, on revenues that inched higher to $1,433,021,000 from $1,429,456,000.
Sales at NWL’s Outdoor & Recreation segment, which includes Coleman, Marmot and other outdoor brands, increased 8% to $383 million from $356 million in the third quarter, generating operating income of $40 million against a loss of $41 million last year.
COLM announced that 18-year company veteran, EVP and COO Thomas B. Cusick will step back from that position to a part time role where he’ll apply his expertise to information technology and supply chain initiatives.
Trump or Biden: Whose Trade Policy is Better for Sporting Goods
With the election coming down to its final days, it seems pretty clear that most industry executives oppose a continuation of the tariff-based policies of President Trump that are almost certain to be continued if he is reelected.
Net income was nearly halved to $62,751,000 from $119,258,000 in the seasonally important third quarter while sales dropped 23% to $701,092,000 from $906,793,000, including missing about $45 million of Fall shipments that shifted from Q3 into Q4 this year due to supply chain delays.
Net income fell 39% to $64,278,000 from $103,090,000 on revenues that were down 4% to $1,300,886,000 from $1,353,998,000, with sales posting a strong sequential rebound in markets recovering from Covid, softening the blow from still challenged markets on the top line.
The bottom line improved 41% in the important fiscal second quarter to $107,149,000 from $75,916,000 on 15% higher revenues of $623,525,000 up from $542,205,000 driven by continued brand momentum from Hoka and a small gain from Ugg.
Booming gun demand resulted in another banner quarter for RGR, which reported earnings that grew fivefold to $24,753,000 in Q3 from $4,817,000 last year, on 53% higher sales of $145,705,000 vs. $94,999,000.
Net income dropped by 46% to $56.4 million from $104.9 million on 19% lower revenues of $602.3 million, down from $739.7 million, including a 26% decline in activewear to $456.3 million that was partially offset by hosiery and underwear posting a 21% gain to $146.0 million.
Net income quadrupled to $10,186,000 from $2,540,000 in the third quarter ended Oct. 3, on a 71% leap in revenues to $78,069,000 from $45,756,000, powered by growth across its product lines.
Adobe is predicted total Holiday online spending of $189 billion this year, effectively cramming two years of normal sales growth into one season.
Inner Game Resources and author Timothy Gallwey are accusing The Big a of infringing on its The Inner Game trademark in a suit filed in Central CA federal court.
Puma Back on Track with Sales, Profit Gains in Q3
The Big Cat bounced back from its difficult second quarter with a return to top- and bottom-line growth in Q3, including net income that increased 13% to €113.6 million ($132.9 mm) from €132.9 million on 7% higher revenues of €1,583.4 million ($1,851.9 mm) vs. €1,477.6 million that would have been up 13% constant currency.
While the main argument of plaintiffs that Under Dog inflated quarterly sales from 2015 to with shady accounting practices remains intact, the third amended complaint in one of several shareholders suits turns up the volume on the practices.
Strong gains on the top and bottom lines for its fitness and outdoor segments helped propel Garmin to net income of $313,417,000 against $227,866,000 for the 13 weeks ended Sep. 26 on a 19% increase in sales to $1,109,194,000 from $934,383,000.
5.11 Tactical, Liberty Safe, Marucci Sports and Velocity Outdoor all posted sales and operating income gains in the third quarter helped by the booming firearms and outdoor markets.
In the first 17 weeks of FY21 since Jun. 28, the multi-banner down-under retailer said that Rebel Sports same store sales grew 16% and e-commerce soared 184%, despite government imposed lockdowns in Melbourne and Auckland.
The fitness band company closed a $100 million Series E financing round at a $1.2 billion valuation led by IVP, with participation from more than a dozen other funds and professional athletes.
The Chinese retailer’s controlling shareholder, Belle Sports Limited, will distribute the 78.4% of Topsports shares it owns to its own shareholders, in proportion to their Belle holdings.