February 20, 2020
Net income dropped 45% to $32,512,000 from $59,522,000 for the fourth quarter as sales declined 11% to $658,673,000 from $742,748,000 including a 15% drop in activewear partially offset by a 1% gain in hosiery and underwear.
Net income declined by a third to $8,208,000 from $12,274,000 in the final quarter on 13% lower sales of $105,139,000 down from $121,121,000, in a period when NSSF-adjusted NICS checks increased by 5%.
Net loss was $120,835,000 in the fourth quarter, including $47,990,000 of costs related to the company’s pending acquisition by Google, compared to a profit of $15,372,000 the previous year.
Mountain View Sports Center, which operates two locations in Anchorage, AK, filed for Ch. 11 bankruptcy protection listing $100,001-$500,000 in assets and $1,000,001-$10 million in liabilities.
The third major Chinese brand to issue an update on the impact of the coronavirus said that all in-house factories and offices resumed operations as of Feb. 10; however, it didn’t indicate if it was at full capacity in the factories, which seems unlikely.
The snowboard company elevated Donna Carpenter, wife of founder Jake Burton Carpenter, who died last November, to chairman of the board, leaving her co-CEO Lacy with the top job.
Joelle Grunberg will take over as global president of the Sperry brand, replacing Tom Kennedy, who will be moving back to the Rockford, MI, group to become president of the Wolverine brand.
Net income jumped 30% to ¥7,859 million ($72.3 mm) from ¥6,049 million in the third quarter ended Dec. 31, the company’s largest, as revenues increased 14% to ¥34,675 million ($319.0 mm) from ¥30,301 million.
Browning is recalling about 1,265 leather pistol holsters with a multi-angle thumb break, designed for its 1911-380 and 1911-22 pistols, because the holster can change the position of the safety switch on the firearm without the user knowing it.
The man who put more shoes on American children than anyone, passed away at the age of 82 Feb. 17.