May 08, 2020
While sales in the Americas and Europe held up, the pandemic downturn in China and Japan led to a 60% decline in comprehensive income to ¥977 million ($9.0 mm) from ¥2,430 million for the final quarter ended Mar. 31 as sales fell 7% to ¥47,041 million ($431.8 mm) from ¥50,458 million.
Revenues tumbled to $77.3 million in the first quarter ended May 2 from $130.3 million last year including a 58% plunge in brick-and-mortar stores, which were open for only the first 45 of the 91 days in the quarter.
Dorel’s Sports segment had an operating loss of $611,000 in the first quarter against a profit of $4,501,000 on 2% higher revenues of $188,188,000 up from $184,544,000 driven by gains at Cycling Sports Group and Pacific Cycle, but Caloi was down.
GPRO net loss more than doubled in Q1 to $63,528,000 from a loss of $24,365,000 on revenues that were down by more than half to $119,400,000 from $242,708,000 in the seasonally small first quarter.
Sporting goods sales, and especially home fitness and cycling equipment, have surged since Covid-19 stay-at-home orders were imposed, NPD Group reported, as parents scramble to find physical activities for kids with schools and sport teams suspended.
March retail imports came in ahead of estimates, but were still down 14.8% year-over-year to 1.37 million Twenty-Foot Equivalent Units, according to the NRF’s Port Tracker.
Delta Apparel is reopening its Salt Life retail stores in GA, FL and SC, and also reopened two COAST stores in Greenville, SC.