September 08, 2020
Net income declined 31% to $86,801,000 from $124,990,000 for the second quarter ended Aug. 2 as sales rose 2% to $902,942,000 from $883,352,000, powered by a 155% surge in digital selling to $554.3 million or 61% of total revenue that was offset by a 51% decline in store revenue to $287.2 million.
JD’s net income attributable to equity holders slipped 60% to £37.5 million ($46.5 mm) in the fiscal first half ended Aug. 1 from £94.1 last year, on 6% lower revenues of £2,544.9 million ($3,157.4 mm) down from £2,721.2 million.
Under Dog’s board approved a $75 million increase to its 2020 restructuring plan, bringing the total bill to $550 to $600 million in pre-tax charges, according to an SEC filing, with the additional costs brought on by the Covid-19 pandemic.
Patel succeeds Andy Long as chief executive of Pentland Brands, the owner of Berghaus, Canterbury, Ellesse, Speedo and other brands, overseeing a re-shaped executive team.
The licensing juggernaut has acquired the headwear manufacturing assets and inventory of Top of the World from parent Vetta Brands, including its licensing rights for over 600 colleges.
Standard & Poor’s lowered the action sports apparel company’s issuer credit rating and term loan rating to SD (selective default) from CCC+, after it issued $155 million of new money debt.
Vista Outdoor-owned Bell accused Nutcase of infringing on its U.S. Patent No. 10,219,577 for an integrated fit and retention system with its Baby Nutty helmets, in a suit filed in CA federal court.