Technogym reported net earnings tumbled 75.5 percent as sales slumped 24.7 percent. The sales decline was due to the contraction in general sales volumes mainly due of pandemic related postponement of several projects on the Business to Business side. On the other hand, the growth of the Home & Consumer segment was significant with a gain of 50 percent.
Author: SGB Media
Fitbit Receives Regulatory Clearance For ECG App To Identify Atrial Fibrillation (AFib)
Fitbit has received 510(k) clearance from the U.S. Food and Drug Administration (FDA), as well as Conformité Européenne (CE) marking in the European Union, for its electrocardiogram (ECG) app to assess heart rhythm for atrial fibrillation (AFib), a condition that affects more than 33.5 million people globally.
Powerful Foods Closes First Pro Sports Team Deal
Powerful Foods said Inter Miami CF has become its first pro sports team partner.
Scheels Rolls Out Mobile Checkout
Scheels, which has 28 stores, has completed its initial implementation of the cloud-based Oracle Retail Xstore mobile POS platform and Oracle Retail Xstore Office Cloud Service to enable its employees to check out customers on selling floors.
Imports Spike As Retailers Stock Up For Holidays
Imports surged to unexpectedly high levels this summer and may have hit a new record, as the U.S. economy continues to reopen and retailers stock up for the holiday season, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Zumiez Inc. Shows Market How To Manage Through A Pandemic; Shares Surge Double Digits
Zumiez, Inc. saw a 9.6 percent increase in fiscal second quarter year-over-year revenues despite a shift in government orders that restricted the number of stores that could be open during the period. Net income for the second quarter was $25.4 million or $1.01 per share, compared to net income of $9 million or 36 cents per share for Q2 2019.
Crocs Sees Growth Resuming In Q3
Crocs Inc. said it expects third-quarter revenues to expand approximately 10 percent.
Newell Brands Appoints Board Member
Newell Brands announced that Jay L. Johnson, executive vice president, chief financial officer and treasurer of Lamar Advertising Company, has been elected to the company’s Board of Directors, effective September 8, 2020. He will serve as a member of the Audit Committee.
StockX Co-Founder Josh Luber To Exit Company
Josh Luber, the co-founder of StockX, is leaving the company a little over a year after he stepped down as CEO.
Portland’s U.S. Outdoor Store Files For Bankruptcy
U.S. Outdoor Store, a landmark store in downtown Portland for decades, filed for bankruptcy and closed its downtown store. The retailer blamed fallout from COVID-19, civic unrest in Portland, shifts to online purchasing and a dispute with its lender. Amer Sports, The North Face and Volcom held the largest unsecured claims among vendors.
Nike Ranks First Again In Apparel In Brand Intimacy Survey
Nike for the fourth year in a row led MBLM’s Brand Intimacy 2020 Study, which is the largest study of brands based on emotions. The remaining brands in the top 10 for the apparel industry were Levi’s, Victoria’s Secret, The North Face, Under Armour, Adidas, Gap, American Eagle, Puma and Ralph Lauren.
Oboz Announces New Hires And Promotions
Oboz has hired a national sales manager and planning analyst while making two internal promotions in product and operations to foster its continued growth.
Yue Yuen’s Sales Sink In August
Yue Yuen Industrial reported sales in August reached $626.0 million against $840.3 million a year ago, representing a decline of 25.5 percent.
Peloton’s Q4 Sales Vault 172 Percent
Peloton Interactive Inc. reported sales jumped 172 percent in the fourth quarter ended June 30, easily topping expectations. EBITDA on an adjusted basis also was well ahead of forecasts.
Zumiez Q2 Earnings Soar
Profits at Zumiez Inc. climbed 182 percent in the second quarter ended August 1 as sales grew 9.6 percent. Earnings were well above Wall Street’s targets.
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