July 31, 2019
The Big Cat’s net income jumped 60% to €49.7 million ($55.4 mm) against €31.1 million for the second quarter ended Jun. 30 as sales improved 17% to €1,226.8 million ($1,367.6 mm) from €1,049.2 million, led by strong gains in the Americas and Asia/Pacific and double-digit gains in both apparel and footwear.
Net income was up 6% to $4,837,000 from $4,550,000 in its fiscal third quarter as revenue grew 6% to $119,260,000 from $112,182,000 including a 5% gain in Delta Group sales and an 18% jump in Salt Life Group sales.
The net loss was $78,868,000 for the second quarter ended Jun. against income of $928,000 as sales fell 22% to $59,004,000 from $75,498,000 with the troubled Direct segment sales falling 40% to $20,834,000 from $34,824,000 and producing an operating loss of $10,876,000 against income of $12,030,000.
Net loss narrowed to $68,518,000 in the second quarter ended June 29 from a loss of $118,268,000 last year on 5% higher revenues of $313,556,000 against $299,344,000, but FIT shares fell double digits in after hours trading as the fitness band maker cut full year guidance.
Comprehensive net income for the first half of 2019 soared to IDR 364,737 million ($25.8 mm) from IDR 43,176 million as revenue rose 19% to IDR 3,471,733 million ($245.6 mm) from IDR 2,907,404 million including +9% same store sales at the Indonesian retailer.
Fitness segment revenues increased 12% to $251,653,000 from $225,095,000 in the second quarter ended Jun. 29 on gains in running and additional revenue from the recently acquired Tacx cycling accessory brand.
Net income jumped 25% to $22,921,000 in Q2 from $18,369,000 last year on a 23% topline gain to $192,122,000 from $156,825,000, but bike component sales lagged with an increase of 3% while powered vehicle parts sales leapt 40% on higher OEM sales.
Athleta signed Olympic and world champion track star Allyson Felix, who recently called out Nike in a New York Times op-ed for its treatment of pregnant athletes, as its first-ever brand ambassador.
NB-owned Warrior Lacrosse terminated its five-year endorsement deal with the lacrosse star, who recently co-founded the upstart Premier Lacrosse League, Bloomberg reported.
The exercise equipment maker says that Marr Strength & Conditioning in infringing on its registered trademark with its Icon Gym training facility.