May 01, 2020
Ratcheting up his attacks on China over the pandemic, President Trump said he is considering levying more punitive tariffs against the country and even suggested that China’s honoring of its commitments under Phase One of the trade deal was secondary to retaliating over the damage to the country caused by the pandemic.
The segment, which includes Coleman and Marmot, saw a $1.1 billion impairment charge swamp its Q1 results, resulting in an operating loss to $1,121 million from a loss of $2 million last year.
The Hi-Tec licensor swung to a $1,147,000 loss in the fiscal fourth quarter ended Feb. 1 from a $192,000 profit, as licensing revenues contracted 10% to $5,492,000 from $6,127,000.
The bankrupt retailer won a one month extension of its bankruptcy time-out as the court ruled that the suspension of GOB sales could continue through May 31.
DBI negotiated an amendment of its $400 million revolving line of credit that redefines the components for calculating its leverage ratio and fixed charge coverage ratio to give it a bit more leeway as it manages through the Covid-19 pandemic.
Clarus has temporarily replaced its quarterly cash dividend with a stock dividend, as part of its efforts to retain cash during the pandemic.