March 03, 2020
The outdoor retailer became the latest sporting goods business to grapple with the impact of COVID-19 as it sent its 1,800 employees home and will conduct a deep cleaning of its campuses in Bellevue, Kent and Georgetown.
Active sales continued to be a bright spot for Kohl’s in the Holiday quarter, with apparel up mid-single digits, and footwear “a bit lower” than that, driven by expanded active departments in 160 of its stores.
Yeti still makes its drinkware in China, but its preparations to mitigate the List 4B tariffs helped fill in the supply shortages that followed coronavirus-related factory shutdowns.
Net income increased 11% to $22,530,000 from $20,368,000 in the fourth quarter on 19% higher sales of $185,881,000 from $156,810,000, including an 11% gain in Specialty Sports Group bike products and a 24% jump from the Powered Vehicles Group.
The former high school basketball player at the center of the Hoopgate scandal had some of his allegations thrown out by the court, but the major thrust of his complaint was allowed to proceed as the court declined to let Adidas off the hook as an innocent bystander in the case.
Two weeks after Standard & Poors revised Boardriders’ outlook to negative, Moody’s has weighed in with a downgrade of its corporate family rating to Caa1 from B3, probability of default rating to Caa1-PD from B3-PD, and secured term loan rating to Caa1 from B3.