May 13, 2021
Net income soared to ¥10,485 million ($99.0 mm) in the first quarter from a loss of ¥243 million last year, on a 25% gain in revenues to ¥106,549 million ($1,006.0 mm) from ¥85,341 million.
Net profit attributable to shareholders was $85,379,000 in the first quarter against a loss of $56,281,000 last year, on 27% higher revenues of $2,493,272,000 up from $1,969,468,000.
Net income got a 260% boost to $30,523,000 over $8,480,000 on revenues that were up 42% to $247,554,000 from $174,412,000 for the first quarter, which was tracking up 36% for the first 10 weeks, followed by 66% growth in the final three weeks against the start of lockdowns.
Net income improved by 16% to C$2.9 million ($2.3 mm) from C$2.5 million for the fiscal fourth quarter ended Mar. 28 as revenue hit C$208.8 million ($164.8 mm), up 48% from C$140.9 million in the prior year and up 34% over ’19 levels.
Revenue at Canadian Tire’s sporting goods banners increased 7% to C$396.7 million ($313.1 mm) in the first quarter from C$370.1 million, including an 18.7% gain in comp store sales.
Net income was $4,188,000 in the first quarter, boosted by a $15 million gain on the sale of the Lee Cooper trademark in China, against a loss of $21,826,000 last year that included a $13.7 million impairment charge on several trademarks.
Gregory backpack and hydration gear sales slipped just 2% in the first quarter to $15.8 million from $16.0 million last year, by far the best result among Samsonite’s brands.
The Personal Health Investment Today Act has been re-introduced in the House as H.R. 3109 by Congressman Ron Kind (D-WI), along with fellow representatives Mike Kelly (R-PA), Terri Sewell (D-AL) and Darrin LaHood (R-IL) as cosponsors.