April 27, 2020 Adidas’ Q1 Plunges But Sees Gradual Recovery After Q2
Net income attributable to shareholders plunged to €31 million ($34 mm) from €632 million on a 19% decline in revenue to €4,753 million ($5,235 mm) from €5,883 million for the first quarter ended Mar. 31 as massive store closures from the pandemic hit first China and then the rest of the world. REI Topped $3 Billion in Sales Last Year
The outdoor co-op’s net income slipped 55% in 2019 to $21,044,000 from $47,098,000 despite 12% higher revenues of $3,122,994,000 up from $2,781,909,000 as higher operating expenses more that offset better sales and margins. Callaway Q1 Tumbles, But Avers Golf Will Bounce Back
ELY preannounced its results for the first quarter, and expects net income to come in at $0.27 - $0.31 per share, down from $0.50 last year, on sales of $438 - $443 million against $516 million. Vista Outdoor Got a Boost from Ammo Last Quarter
Vista said that demand for ammunition, cycling and outdoor cooking products and gains from its direct-to-consumer e-commerce channel fueled a strong fiscal fourth quarter, which ended Mar. 31. Yue Yuen Warns of Q1 Shortfall
The footwear maker expects a net loss of $60 to $70 million for the first quarter against a $75 million profit last year, with both its manufacturing business and Pou Sheng Chinese retail operation contributing to the loss. S&P, Moody’s Downgrade Caleres
Both ratings agencies cited CAL’s recent upsizing and 100% drawdown of its now $600 million asset-based revolver in their rationale for downgrade. JD Sports Suspends Dividend, Cuts Salaries
The U.K. retailer and Finish Line parent will not pay a final dividend this year to maintain cash reserves, and will be suspended until the board decides that conditions have adequately improved. Etcetera: Fanatics, VF, European Athletics Championships, Orvis, Tifosi
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