March 18, 2021
Net income jumped 71% to $1,449 million in the fiscal third quarter ended Feb. 28 from $847 million last year, but shipping container shortages, U.S. port congestion and store closures in EMEA held the top line to just 3% growth to $10,357 million against $10,104 million.
Net income at the Chinese sportswear brand declined 30% in 2020 to RMB 513.0 million ($74.3 mm) from RMB 727.7 million, as revenues inched down slightly to RMB 8,171.9 million ($1,184.2 mm) from RMB 8,182.7 million.
Net income at the footwear manufacturer plunged 99% in the pandemic year to $1,064,000 from $95,918,000, on revenues that fell 26% to $1,135,880,000 from $1,544,830,000.
Nautilus rolled out its five-year North Star plan during its 2021 Investor day, laying out a focus on product consolidation, omnichannel selling and digital connected fitness subscriptions.
Net income in the final quarter was off 42% to $14,642,000 from $25,288,000 on 30% lower sales of $526,242,000 down from $754,617,000.
President Biden’s pick as U.S. Trade Representative was confirmed on a 98-0 vote by the Senate, drawing strong support from both sides of the aisle for her tough on China stance.
The U.K.-based sporting goods juggernaut completed its acquisition of DTLR Villa on Mar. 17, and pledged to roll up its sleeves and get to work with the DTLR team.
Detailing the partnership that it teased at its investor day last week, the Big a will produce a collection of performance and lifestyle apparel in collaboration with three Peloton instructors, who were involved in the design process.