July 29, 2020 Puma Posts Big Q2 Loss, Sees Recovery in 2021
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. Liberty Safe and Velocity Outdoors Post Big Q2 Gains
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. Garmin Fitness Gains in Q2, but Outdoor Stumbles
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. Overtime Sports Sues Dick’s over Outlet Stores
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, Brand Jordan Outline Social Justice Commitment
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. Etcetera: Hydro Flask, Nike, Puma
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