February 26, 2021
Big Foot’s final quarter gave notice that the end of the pandemic may have been greatly exaggerated, as net income slipped 8% in the final quarter to $123 million from $134 million on revenues that inched down to $2,189 million from $2,221 million including a -2.7% comp.
Fanatics China will be a 50-50 joint venture with Asian PE fund Hillhouse Capital, based in Shanghai, and a source close to the deal told CNBC the new business is expected to do over $1 billion in revenues.
The outdoor co-op did not make a profit last year, according to a letter to members posted on its website, and so will not pay its customary annual dividend, instead offering members an equivalent store credit amounting to 10% of 2020 full-price purchases.
After paying down its $171 million, 364-day pandemic term loan, WWW sees Standard & Poor’s upgrade its outlook to stable and affirm its BB issuer credit rating.