Industry revenues were up 6% to $47,267.0 million from last year’s $44,404.2 million in the fourth quarter of 2019 and total profits leaped 73% to $3,283.6 million from $1,898.7 million, as most sectors posted gains on the top and bottom lines.

Columbia has furloughed 3,500 retail employees and has reduced their pay by 75%, after keeping them on for four weeks at full pay through the company’s catastrophic paid-leave program.

Standard & Poor’s cut ELY’s issuer credit rating by one notch to B+, because it expects the Covid-19 pandemic to reduce sales and EBITDA due to retail store closures and lower demand for discretionary products.