April 01, 2020
Various news outlets are reporting that apparel and footwear along with light trucks will be among the items that the Administration will include on a list of Chinese imports for which duties will not be collected over the next 90 days.
Net income slipped 42% in the first half ended Jan. 31 to NZ$8.1 million ($5.2 mm) from NZ$14.0 million on 59% higher sales of NZ$363.7 million ($234.9 mm) including the acquired Rip Curl business, up from NZ$229.0 million last year.
Net loss in the fiscal first half ended Feb. 29 expanded to ¥386 million ($3.6 mm) at the Japanese retailer from a loss of ¥83 million last year on 9% lower sales of ¥29,408 million ($270.5 mm) vs. ¥32,404 million.
Athletic footwear sales declined 65% year-over-year for the week ended Mar. 21, NPD Group reported, with all the major and hottest brands dropping.
The ratings agency affirmed HBI’s Ba1 corporate family rating and other ratings on its credit facilities, but lowered its rating outlook to negative from stable, citing the impact of the coronavirus pandemic.
Sports Direct, after issuing a public apology for trying to keep its stores open despite government shutdown requirements, tries to further burnish its image by saying that the management team will cut its compensation to £40,000 annually and pay the staff through April.