June 17, 2020
Net income attributable to shareholders declined 15% to RMB366 million ($52.4 mm) from RMB429 million in the year ended Mar. 31, on 13% higher revenues of RMB1,841 million ($263.8 mm) up from RMB1,635 million.
Nike, which is JCP’s #4 brand overall, will begin shipping merchandise to the department store after the bankruptcy court judge approved a deal that will get $30 million of Swoosh product sent immediately, and another $50 million upon entry of a final order.
The broadly bipartisan bill, which has the strong support of the Outdoor Industry Association and other industry groups, passed with a 73-25 vote and now heads to the House of Representatives.
Sales of traditional bikes, indoor bikes, and parts and accessories jumped 75% year-over-year to a record $1 billion in April, well above the typical $550 to $575 million in sales for the month, according to NPD Group.