August 13, 2020
The bottom line swung to a ¥6,023 million ($56.0 mm) loss in the second quarter from a profit of ¥1,139 million last year, on 30% lower revenues of ¥61,556 million ($572.4 mm) down from ¥88,496 million as the coronavirus pandemic impacted all regions.
Revenues at Sumitomo Rubber’s sports segment fell 45% to ¥12,478 million ($116.0 mm) in Q2, from ¥22,770 million last year, and operating loss was ¥2,505 million ($23.3 mm) against a profit of ¥1,945 million.
Net loss was ¥1,279 million ($11.9 mm) in the fiscal first quarter ended June 30, lapping a barely breakeven quarter last year, on revenues that tumbled 44% to ¥8,200 million ($76.3 mm) from ¥14,691 million.
The Japanese sports brand swung to a ¥345 million ($3.2 mm) loss in its fiscal Q1 ended June 30 from a profit of ¥289 million last year, as revenues dropped 42% to ¥6,410 million ($59.6 mm) from ¥10,975 million.
Net loss narrowed to $2,784,000 in the second quarter from a loss of $4,599,000 last year, on licensing revenues that contracted 14% to $22,594,000 from $26,415,000.
The outdoor co-op is rethinking its approach to office space, and will sell its newly completed Bellevue, WA, corporate campus in favor of multiple, smaller locations in the Seattle area.
DKS, which was sued by online sports network Overtime Sports last month over its Overtime bannered outlet stores, has filed a suit of its own in Pittsburgh, PA, federal court, asking for a declaratory judgment of non-infringement.
Active Brands AS is recalling about 300 Sweet Protection-branded Ripper Jr., Ripper MIPS Jr. and Ripper MIPS bicycle helmets because they don’t comply with the CPSC’s federal safety standard.
Crown Darts UK is warning consumers in the U.S. and Canada who bought 23,448 lawn dart sets from May 2004 through June 2020 not to use them and to destroy and dispose of them.