October 16, 2020
Net income dropped 60% to $256,722,000 in the fiscal second quarter ended Sep. 30, from $649,001,000 last year, on 18% lower revenues of $2,608,324,000 down from $3,179,758,000, which included a 16% aggregate decline from VF’s Big 4 brands: Vans, The North Face, Timberland and Dickies.
Richard Sullivan, who was most recently EVP of digital, has been elevated to president and COO of the Japanese brand’s North American operations.
Sporting Goods/Hobby/Book and Music Store adjusted sales grew 14% in Sep., improving from its 11% pace in Aug. and increasing to $7,710 million from $6,741 million, according to Commerce Dept. data.
Escalade Sports has acquired the billiard table, game room, and recreational product lines of American Heritage Billiards, including the related intellectual property in an asset purchase.