August 10, 2020 Foot Locker Pre-Announces Strong Q2 Sales, Earnings
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. Nautilus Soars in Q2 as Pandemic-Driven Demand Continues
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. Black Diamond Falls in Q2, but Sierra Shoots Higher
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. Modell’s IP Sold for $3.6 Million
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. Alpargatas Grows International in Q2
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 Sales Tumble from Store Closings
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 Sales Drop Double Digits in July
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.
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