April 30, 2020
The Covid-19 pandemic impacted COLM’s results in the first quarter, as it eked out a $0.2 million profit, down from $74.2 million last year, on 13% lower revenues of $568.2 million against $654.6 million.
What would have been basically a flat quarter turned negative the last two weeks of March for HBI as it reported a loss of $7,874,000 against income of $81,088,000 on sales of $1,316,462,000 against $1,588,024,000.
Net income was up 39% to $1,311,000 in DLA’s second fiscal quarter ended Mar. 28 from $942,000 on sales that were down 6% to $96,660,000 from $102,838,000 last year, as the coronavirus slowed down a 9% growth pace early in the quarter.
The NCAA’s legislation working group recommended rule changes to the board of governors that allow student athletes to make money from commercial use of their name, image or likeness (NIL), but said that sneaker and apparel companies could be restricted from participating.
Compass Diversified’s sporting goods subsidiaries posted mixed results in Q1, with solid gains from 5.11 Tactical and Liberty Safe, but an operating loss on lower sales from Velocity Outdoor.
Revenues at Olin Corp.’s ammunition brand increased by 20% to $188.0 million from $157.2 million in the first quarter helped by gains in commercial and military sales.
The deal, revealed in an SEC filing, will transfer the Chinese subsidiary from Iconix Luxembourg Holdings to HK Qiaodan Investment Limited, and is expected to close by Sep. 15.
The former NBA player, who is currently a broadcast analyst, is suing DKS in Chicago federal court for using his picture in image advertising for over 10 years in 57 stores without prior authorization and without any compensation.
VF Corp.’s The North Face, Timberland, Icebreaker, Smartwool, Eagle Creek, and Altra brand are donating about $55,000, or 15% of their OR Summer Market refund, to the OIA.