June 02, 2020
The net loss was $143,422,000 against income of $57,525,000 for the 13 weeks ended May 2 as sales fell 30% to $1,333,228,000 from $1,920,677,000 with comps down 29.5% although e-commerce sales jumped 110%.
The National Retail Federation expressed outrage and sympathy following the death of George Floyd in Minneapolis, but condemned the looting and plundering of businesses in the aftermath of protests.
Firearms sales jumped high-double digits for the third month in a row, fueled by the coronavirus pandemic with an extra boost of fear-driven demand from nationwide protests and violence after the killing of George Floyd by Minneapolis police last week.
The 18-door Canadian outdoor retailer based in Laval, QC, plans to restructure its business after filing for protection under that country’s Bankruptcy and Insolvency Act.