May 10, 2022
PTON’s new CEO, Barry McCarthy, acknowledged the daunting task ahead as the ailing connected fitness giant tries to reduce spending and find ways to drive revenue growth in a slowing market.
Net income was cut 68% to $86.7 million down from $272.5 million last year that included a one-time gain last year on the Topgolf investment, on revenues that were up 60% to $1,040.2 million over $651.6 million, including one month of Top Golf in the prior year period.
Allbirds, citing logistics, currency effects, and lower international sales as significant year-over-year headwinds, is taking a more cautious view of FY22.
The ease of government restrictions and vaccinations was not enough to stop Alpen’s downward spiral as net income attributable to shareholders dropped 60% to ¥3,296 ($28 mm) from ¥8,335 ($72 mm) for the nine-months through Mar. 31, as revenues inched lower at 3% to ¥166,031 ($1,429 mm) from ¥171,570.
Yue Yuen’s Pou Sheng Chinese retail business continued to founder last month, declining 38% in local currency to $178,994,000, hit by widespread Covid lockdowns in many cities.
MDT, the precision rifle chassis manufacturer with offices and production in Chilliwack, BC, Canada, and Everson, WA, acquired electronic shooting levels and sights maker Long Range Arms.