October 29, 2020
With the election coming down to its final days, it seems pretty clear that most industry executives oppose a continuation of the tariff-based policies of President Trump that are almost certain to be continued if he is reelected.
Net income was nearly halved to $62,751,000 from $119,258,000 in the seasonally important third quarter while sales dropped 23% to $701,092,000 from $906,793,000, including missing about $45 million of Fall shipments that shifted from Q3 into Q4 this year due to supply chain delays.
Net income fell 39% to $64,278,000 from $103,090,000 on revenues that were down 4% to $1,300,886,000 from $1,353,998,000, with sales posting a strong sequential rebound in markets recovering from Covid, softening the blow from still challenged markets on the top line.
The bottom line improved 41% in the important fiscal second quarter to $107,149,000 from $75,916,000 on 15% higher revenues of $623,525,000 up from $542,205,000 driven by continued brand momentum from Hoka and a small gain from Ugg.
Booming gun demand resulted in another banner quarter for RGR, which reported earnings that grew fivefold to $24,753,000 in Q3 from $4,817,000 last year, on 53% higher sales of $145,705,000 vs. $94,999,000.
Net income dropped by 46% to $56.4 million from $104.9 million on 19% lower revenues of $602.3 million, down from $739.7 million, including a 26% decline in activewear to $456.3 million that was partially offset by hosiery and underwear posting a 21% gain to $146.0 million.
Net income quadrupled to $10,186,000 from $2,540,000 in the third quarter ended Oct. 3, on a 71% leap in revenues to $78,069,000 from $45,756,000, powered by growth across its product lines.
Adobe is predicted total Holiday online spending of $189 billion this year, effectively cramming two years of normal sales growth into one season.
Inner Game Resources and author Timothy Gallwey are accusing The Big a of infringing on its The Inner Game trademark in a suit filed in Central CA federal court.