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May 06, 2020 Home Fitness Boom Drives Strong Gains at Peloton
With health clubs largely closed around the world, Peloton had a 66% surge in Q3 sales to $524.6 million from $316.7 million while the net loss rose to $55.6 million from $38.4 million for the three months ended Mar. 31. Fitbit Sales Crater, but Turns Profit on Tax Benefit
The bottom line rebounded to net income of $20,294,000 in Q1 against last year’s loss of $79,465,000, benefiting from a $145 million tax benefit from net operating loss carrybacks as part of the CARES Act. Industry Expanded at a Record Pace Last Year
While conceding that looking back at 2019 can seem like ancient history in a world now dominated by the Covid-19 pandemic, the SFIA’s annual State of the Industry Report touted 3.9% overall growth last year, the strongest result in 17 years. CMA Rules JD Sports Must Sell Footasylum
The U.K.’s Competition and Markets Authority has determined that last year’s £90 million acquisition of Footasylum is anticompetitive and likely to result in higher prices and worse service for consumers. Fox Factory Q1 Net Falls on Acquisition Expenses
Net income was more than halved to $8,250,000 from $18,103,000 on a $15 million increase in SG&A, despite revenues that increased 14% to $184,361,000 from $161,700,000. Wolverine Worldwide Issuing $300 Million of Debt
WWW is offering $300 million of 6.375% senior notes due in 2025, with the proceeds earmarked to pay down borrowings under its revolving credit facility. Puma Nearing £100 Million Deal with Raheem Sterling
The Big Cat is close to signing its largest ever endorsement deal with a soccer player, according to Sky Sports, if it can entice the Manchester City forward to leave Brand Jordan when his contract expires at the end of June. Brooks Shoes Files for Bankruptcy
The Santa Monica children’s footwear retailer, which does business as Brooks Shoes for Kids, listed $100,000 to $500,000 in assets and $500,000 to $1 million of liabilities in its Ch. 7 filing in Central CA bankruptcy court.
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