August 15, 2017
Adapting to yet another new normal, Dick’s said it would aggressively pursue market share with more intense promotions as it reported disappointing Q2 results of $112,385,000 for the second quarter, up 23% compared to last year’s Sports Atrocity period, on a 10% sales gain to $2,156,911,000 compared to $1,967,857,000.
The head dog at Under Dog joined several other CEOs who moved to distance themselves from President Trump over his handling of the violence in Charlottesville, VA, last weekend.
Net loss doubled to $9.5 million from $4.8 million in the second quarter ended Jul. 2 as reduced consumer demand and excess inventories in the firearms segment sent sales tumbling 24% to $155.0 million from $204.3 million.
Comprehensive net income at the Chinese footwear and apparel company increased 14% to RMB1,323.9 million ($192.9 million) from RMB1,159.7 million in the first half, despite a RMB155 million negative swing in foreign exchange, as sales gained 19% to RMB7,323.2 million ($1,067.0 million) from RMB6,142.7 million.
A NT$962 million positive swing in foreign exchange drove comprehensive net income up 137% to NT$1129.7 million ($34.9 million) from NT$476.4 million in the second quarter.
Net loss was NT$114.7 million ($3.5 million) against income of NT$62.2 million in the second quarter ended Jun. 30 on 6% higher revenues at NT$4,280.1 million ($132.1 million) vs. NT$4,046.7 million.
Adjusted sales for sporting goods/hobby/book and music stores were down 4.2% to $7,133 million in July compared to $7,446 million, according to Commerce Dept. data.