July 31, 2020
Net loss expanded more than ten-fold to $182,895,000 in the second quarter from a loss of $17,349,000 last year, as widespread store closures from the Covid-19 pandemic sent revenues down 41% to $707,640,000 from $1,191,729,000.
Net loss plunged to $285,613,000 in the fiscal first quarter ended June 27 from last year’s earnings of $49,221,000 on a 48% revenue decline to $1,076,293,000 from $2,050,654,000.
Net income dropped 42% to $12,869,000 in the fiscal third quarter ended June 26 from $22,066,000 on 21% lower revenues of $138,390,000 down from $176,253,000.
Outdoor and Recreation sales, which includes Coleman and Campingaz, were down 20% to $353 million in the second quarter, from $443 million last year, and segment operating income fell 38% to $25 million from $40 million.
The Eager Beavertons were sued by Cali Bunn, who is deaf, in a proposed class action filed in San Francisco Superior Court.