July 29, 2021
The Big Cat posted a €48.7 million ($58.7 mm) profit in the second quarter, lapping a €95.6 million loss in the pandemic-hit quarter last year, as revenues grew by 91% to €1,589.1 million ($1,914.6 mm) from €831.1 million.
Net income was $51,475,000 in the fiscal first quarter ended Jun. 30, against a loss of $6,967,000 last year, in what has always been a small quarter seasonally for the Ugg and Hoka parent, but not anymore, as revenues soared 78% to $504,678,000 from $283,169,000.
Net income was $44.7 million in the second quarter against a loss of $1.6 million last year, on revenues that rebounded 81% to $631.9 million from $349.1 million, with both top and bottom lines up 11% from Q2 ‘19.
Net income bounded back 154% to $102,725,000 from $40,476,000 for fiscal Q1 ended June 27 as net sales rose 38% to $662,912,000 from $479,140,000.
CODI’s net loss expanded to $11,251,000 from the prior year’s $7,366,000 loss on a 46% sales increase to $487,438,000 from $333,627,000.
Global Brands Group’s U.S. subsidiary, GBG USA Inc. and 10 related entities, have filed for chapter 11 in So. NY federal bankruptcy court, listing $1 to $10 billion in both assets and liabilities.
The paddle sports equipment company’s director of operations Mark Loughmiller has purchased the business from founder, Steve O’Meara, who is stepping back after 50 years at the helm.
Milkcrate Athletics, which says it settled an earlier trademark infringement claim with the Big a in 2019, is suing again in So. NY federal court over Adidas’ collab with Vic Lloyd and Corey Gilke.
Birkenstock is recalling about 15,227 pairs of kids’ Mogami sandals because a plastic rivet can detach from the sandal’s ankle strap, posing a choking hazard.