July 29, 2020
The Big Cat recorded a €95.6 million ($105.3 mm) net loss in the second quarter against a €49.7 million profit last year on 32% lower revenues of €831.1 million ($915.3 mm) down from €1,226.8 million in a period where it estimated that 85% of its stores were closed at some point.
Compass Diversified’s sporting goods brands had mixed results in the second quarter, as Liberty Safe and Velocity were well-positioned to benefit from the pandemic, 5.11 has a single-digit decline, and newly acquired Marucci suffered from the suspension of team sports.
Revenues at GRMN’s Fitness segment jumped 17% to $294,642,000 from $251,653,000 on strong demand for wearables and cycling accessories driven by the home fitness boom as the pandemic spread.
The online sports network is suing DKS in NY federal court, accusing it of infringing on its trademark with its three Overtime bannered outlet stores in Plainville, CT, Hagerstown, MD, and Philadelphia, PA.
Nike’s $40 million commitment over the next four years to fight systemic racism will start with a $1 million grant to NAACP Empowerment Programs, the NAACP Legal Defense and Educational Fund and Black Girls CODE.