August 03, 2022 Under Armour Sees Lower Margins Hurting Profits
The bottom line contracted 87% to $7,682,000 in the fiscal first quarter ended June 30 from $59,207,000 last year, on revenues that inched down to $1,349,057,000 from $1,351,534,000 with wholesale up 3% but direct-to-consumer falling 7%. Compass Diversified Sports Brands Mostly Improve in Q2
CODI’s bottom line swung back to a profit of $26,376,000 in Q2 from a loss of $11,251,000 on total sales that grew 19% to $515,597,000 from $431,525,000. Sturm, Ruger Profits Drop on Lower Sales
Net income was halved to $20,757,000 in the second quarter from $44,384,000 last year, on sales that fell 30% to $140,653,000 from $200,072,000 as channel restocking is now mostly complete for the polymer handguns and MSRs that drove pandemic sales.
Bogs parent Weyco Group said that the rugged footwear brand’s sales increased 35% in the second quarter, contributing to a 41% increase in wholesale sales to $59.0 million from $41.9 million last year. NTX Raises Nearly $200 million
The Southeast Asian sustainable textile technology company has closed a nearly $200 million Series C funding round led by Centurium Capital, with existing shareholder NRL Capital participating. Allbirds Laying Off 8% of Staff
The sustainable sneaker and apparel maker is letting 23 corporate employees go, joining the growing list of companies taking steps to cut costs, while it tries to position itself for the next phase of growth. Etcetera: Lids, Gymshark, MidwayUSA
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