June 22, 2021
SCVL credited government stimulus checks for driving better than expected results in the first half, which led it to raise full-year 2021 revenue guidance to over $1.15 billion, more than $100 million more than its pre-pandemic 2019 sales.
Net income was $23,372,000 in the first quarter ended Apr. 3, up from $421,000 last year, as consolidated revenues rose 55% to $166,618,000 against $107,282,000.
The bottom line grew 40% to HK$ 313,559,000 ($40.5 mm) in the fiscal year ended Mar. 31, from HK$ 223,458,000 on 8% higher revenues of HK$ 3,248,875,000 ($419.2 mm) up from HK$ 3,017,120,000 at the sports apparel manufacturer.
The connected fitness company is planning to release a heart rate monitor armband, Bloomberg reported, based on data discovered in Peloton’s iPhone and iPad app.
The direct-to-consumer athletic footwear brand grew revenues 80% in 2020 and reached a valuation of $500 million in a new funding round in April, Business Insider reported.
DBI promoted its current chief growth officer, William Jordan to president of Designer Brands, and appointed the company’s vice chairman, Debbie Ferrée, to president of Camuto Group.