August 25, 2022 Peloton Interactive Posts $1.24 Billion Q4 Loss
CEO Barry McCarthy, in his quarterly shareholder letter, compared the interactive fitness company to a cargo ship like one he worked on as a high schooler, but perhaps he should have considered a cruise ship comparison given the company’s needs to attract more younger, female and value-oriented customers to steer into “breakeven” cash flow waters by the second half of FY23. Hibbett Sees Later, Stronger Back-to-School
Net income declined 47% in the second quarter to $24,713,000 from $46,696,000 on 6% lower revenues of $392,805,000 down from $419,257,000, with comps tumbling 9.2%, lapping last year’s 6.4% comp decline from 2020’s record quarter. Shenzhou Int’l H1 Gains on Strong U.S. and European Sales
Net income rose 20% in the first half at the Chinese apparel maker to RMB 2,366,616,000 ($357.7 mm) from RMB 2,226,278,000 on revenues that increased by RMB 13,592,789,000 ($2,054.5 mm) from RMB 11,368,606,000. Shoe Carnival Hit by Sneaker Shortages
Net income fell 35% to $28,909,000 in the second quarter from $44,212,000 last year on revenue that was down 6% to $312,268,000 from $332,230,000, including -13.8% store comps.
Gap Inc.’s women’s active apparel banner posted sales of $344 million for the second quarter, up 1% over $341 million last year, as comps declined 8%. CPSC Recall: Paddleboard Paddles
Agit Global is recalling about 124,000 paddles sold with model year 2015 through 2020, Wave Storm, Storm Blade, Ozoboard, True Wave, Bloo Tide, Dorsal, and Rock It Surf stand-up paddleboards. CPSC Recall: Trek Bikes and Handlebars
Trek Bicycle is recalling about 3,200, 2022 Speed Concept SLR and 2021-2022 Emonda SLR bicycles and about 900, 2020-2021-2022 aftermarket Bontrager Aeolus RSL VR-C handlebar/stems because the carbon handlebars can crack. Etcetera: Dick’s, iFit, Coats Group, OIA, Hanesbrands
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