June 25, 2020
The Eager Beavertons sustained a loss of $790 million against income of $989 million for the final quarter ended May 31 as sales plunged 38% to $6,313 million from $10,184 million as a result of store closures mostly in North America and EMEA.
The e-commerce giant has formed an anti-counterfeiting unit from former federal prosecutors, experienced investigators, and data analysts, which will be tasked with scouring the site for knockoffs, and going after counterfeit sellers.
The owner of The North Face, Canterbury and several other sports brands for the Japanese market sees the Covid-19 pandemic sending revenues down 23% to ¥75,000 million ($688 mm) in the current fiscal year ended Mar. 31, 2021, from ¥97,899 million last year.
After listing an initial 154 stores to be closed in Phase 1, where liquidation sales are already underway, the bankrupt retailer said it will close 13 more stores in Phase 2.
The Varsity Brands-owned team dealer is suing former employee Susan Chaille and Jacksonville, FL-based Baker’s Sports, who it says hired Chaille as a sales rep after she left BSN in April.