May 27, 2020
Professional leagues and amateur associations continue to make moves towards resuming play with a series of late May announcements detailing strategies and obstacles to getting athletes back on the field.
Net loss was $4,611,000 in the first quarter lapping a $1,664,000 profit as sales slipped 11% to $217,736,000 from $245,286,000 last year that included exceptional sell-though from the extended winter season in Q1’19.
Over half of industry companies saw sales declines of 50% or greater during the month of April compared to the prior year and 76% of them received some form of government financial assistance, according to a May survey conducted by SFIA of 228 vendors, retailers and others.
Net loss in fiscal Q4 ended Mar. 31 was ¥686 million ($6.3 mm) against income of ¥1,631 million last year on a 4% increase in revenues to ¥22,056 million ($202.4 mm) from ¥21,228 million at the Japanese apparel company.
The Daiwa Fishing parent and Prince distributor in Japan had a loss of ¥835 million ($7.7 mm) in the final fiscal quarter ended Mar. 31 against a profit of ¥214 million last year, on 1% lower sales of ¥21,922 million ($201.2 mm) down from ¥22,045 million.
Sumitomo Rubber’s sports division swung to a ¥397 million ($3.6 mm) loss in the first quarter from a profit of ¥857 million last year on 14% lower revenues of ¥17,351 million ($159.3 mm) compared to ¥20,165 million.
Burton cancelled the 2021 U.S. Open snowboarding championship, which was scheduled to take place Mar. 1-6 next year at Vail Mountain’s Golden Peak, citing both public health risk and financial risk for the company given the unknown trajectory of the coronavirus pandemic.