May 26, 2022
Net income declined 44% to $4,947,000 from $8,878,000 for the first quarter ended Apr. 30, on 3% lower sales of $520,748,000 down from $538,695,999 as the top line fell 16% at Journeys to $314.4 million on a difficult year-over-year comparison and supply chain disruptions.
In the aftermath of mass shootings in Uvalde, TX, and Buffalo, NY, firearms manufacturers are coming under increasing pressure from state laws that would allow lawsuits against them despite the federal Protection of Lawful Commerce in Arms Act.
The former CZ Group benefitted in the first quarter from the addition of Colt, nearly doubling net income to CZK 544,730,000 ($24.8 mm) from CZK 275,642,000, on 75% higher revenues of CZK 3,553,557,000 ($161.8 mm) up from CZK 2,033,760,000.
Comping against last year’s huge first quarter in which sales jumped 69%, Gap, Inc.’s women’s activewear banner mustered a 4% improvement to $360 million against $347 million in Q1 this year.
ManU’s commercial revenue rose 13% to £65.6 million ($88.1 mm) in the fiscal third quarter ended Mar. 31 from £58.1 million prior, buoyed by an 18% increase in retail, merchandising apparel & product licensing revenue to £26.4 million.
National park recreational visits were up 2% last month to 22,477,675 from 22,052,357 and are up 9% so far this year to 69,839,328 up from 63,959,786.
The outdoor brand filed a trademark infringement suit in CA district court against licensed apparel wholesaler Mad Engine Global, LLC, over the use of Patagonia’s “P-6” logo on its Neff Headwear brand.
The matriarch of the Modell’s sporting goods company and noted philanthropist died on May 12 at the age of 98.