April 27, 2020
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.
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.
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 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.
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.
Both ratings agencies cited CAL’s recent upsizing and 100% drawdown of its now $600 million asset-based revolver in their rationale for downgrade.
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.