April 27, 2021
Net income rocketed 787% to $98,398,000 from $11,091,000 on record Q1 revenues that were up 64% to $460,098,000 over $281,160,000 driven by DTC sales that nearly doubled.
Net income attributable to shareholders was up 45% in the first quarter to ¥28,596 million ($270.0 mm) from ¥19,663 million on a 64% jump in revenues to ¥126,426 million ($1,193.8 mm) from ¥76,920 million driven by both bike components and fishing gear.
The parent of Royal Robbins, Fjällräven and other outdoor brands saw first quarter net income more than double to €9.6 million ($11.6 mm) from €4.4 million, on 1% lower revenues of €128.1 million ($154.3 mm).
Net loss narrowed to $625,000 for the year from a loss of $21,970,000 in 2019, but the footwear maker’s top line dwindled to just $3,352,000 from $4,595,000.
The Chinese footwear manufacturer and retailer said it expects net income for the first quarter to come in between $80 and $90 million, against last year’s pandemic-driven loss of $56 million.
The Eager Beavertons will pay a total of $8,250,000 to settle a seven-year-old class action brought on behalf of its retail employees in CA who were required to undergo off-the-clock security checks and visual inspections before being allowed to leave work.
A former top executive of Adidas and Puma and a former president of the Federation of the European Sporting goods Industry (FESI), has passed away.