October 29, 2020 Trump or Biden: Whose Trade Policy is Better for Sporting Goods
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. Columbia Sees Profits Tumble on Lower Sales
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. Skechers Wholesale Returns to Growth in Q3, but DTC Weakness Remains
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. Hoka Gains Drive Deckers to Record Quarter
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. Sturm, Ruger Shoots Higher on Unprecedented Demand
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. Gildan’s Activewear Sales Drop Again in Q3
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. Escalade Soars on Growing Outdoor and Fitness
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 Sees Holiday Online Spending Growing 33%
Adobe is predicted total Holiday online spending of $189 billion this year, effectively cramming two years of normal sales growth into one season. Adidas Sued Over Inner Game Mark
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.
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