May 21, 2020
Net income fell 43% to $13,634,000 from $23,843,000 on revenues that were down 5% to $374,910,000 from $394,130,000 for DECK’s final fiscal quarter ended Mar. 31.
The permanent layoffs represent 2.5% of its global workforce of 5,000 as it has had stores closed since mid-March and has transitioned some of its manufacturing capacity to PPE production while curtailing production of outerwear.
Commercial revenue was the one bright spot for ManU, improving 3% to £68.6 million from £66.6 million in the fiscal third quarter ended Mar. 31 helped by an 8% gain in sponsorship revenue to £44.7 million that more than offset a 4% dip in retail, merchandising, apparel & product licensing revenue to £23.9 million.
Sierra’s footprint had expanded to 766,000-sq.-ft. at the end of the first quarter from 654,000-sq.-ft. and 39 stores a year ago.
Under Dog is offering $400 million plus an optional additional $60 million in convertible senior notes due June 1, 2024 that can be converted to UA shares at any time with certain conditions, or unconditionally after Jan. 1, 2024.
Lululemon has reopened over 150 store locations across North America, Europe, Asia, New Zealand and Australia, with about 200 more stores set to reopen over the next two weeks.