August 10, 2020
Comp store sales jumped 18% for the second quarter ended Aug. 1 and net income will be $0.38-42 per share ($41.7 mm) including charges of $19 million related to shutting down the Runners Point chain in Europe and another $18 million in costs related to social unrest following the George Floyd killing.
Revenues nearly doubled to $114,188,000 in Q2 from $59,004,000 last year as huge demand for home fitness equipment driven by the coronavirus pandemic resulted in the largest quarter ever for NLS.
Clarus' net loss nearly quadrupled to $2,743,000 from a loss of $694,000 as revenue fell 36% to $30,014,000 from $46,994,000 despite a DTC improvement of 7%, led by a 25% sales increase through the Black Diamond e-commerce site.
A subsidiary of Florida-based Retail Ecommerce Ventures won the bankrupt retailer’s intellectual property at auction, including trade names, web sites, social media accounts and customer list and will pay $3,640,000 for the assets.
The Brazilian parent company of Havaianas and Osklen overall sales declined by 20% to R$680.5 million ($128.6 mm), but a judgment against the Brazilian tax department sent net income up 43% to R$44.5 million ($8.4 mm).
Mammut Sports Group revenues declined by 31% to CHF 80.9 million ($88.6 mm) in the first half of 2020, including 29% drop in comparable sales, resulting in an operating loss of CHF 23.3 million ($25.5 mm), against a loss of CHF 5.3 million for the first half of 2019.
Yue Yuen’s revenue declined 19% overall last month to $654,388,000 from $812,165,000, including a small gain at its Pou Sheng Chinese retail subsidiary, and a contraction in its footwear manufacturing business.