Gildan Activewear Inc. reported sales for the second quarter ended June 28 declined 71.3 percent to $229.7 million compared to the year-ago quarter, primarily driven by sales volume declines as a result of demand downturn in the quarter, the impact of significant distributor inventory destocking in imprintables, unfavorable product mix, and higher promotional discounting in imprintables.
Author: SGB Media
HanesBrands Q2 Benefits From Shift To PPE Production
HanesBrands announced second-quarter results with double-digit growth in diluted earnings per share despite market disruption from COVID-19. The earnings growth resulted from the company’s ability to pivot to production and sales of personal protective equipment (PPE) combined with relatively strong apparel performance in pandemic conditions, including 68 percent sales growth in the online channel.
Big Agnes Adds New Distribution Partners In Europe
Big Agnes Inc., the Steamboat Springs, CO-based outdoor equipment brand announced two new distribution partners in Europe. Plein Nord will distribute Big Agnes in France and Andorra while Roswi will distribute the brand throughout Scandinavia.
Tempo Snags $60 Million In New Funding
Tempo, a startup that provides people with a home gym and an artificially intelligent personal training system, announced $60 million in new funding, the largest Series B of any smart fitness company to date.
Smith Optics Appoints New GM, Promotes Others as Eric Carlson Exits
Smith, one of Safilo Group’s core brands, announced the appointment of Francesco Rinaldi Ceroni as General Manager, and additional core hires.
Puma’s Q2 Sales Drop 31 Percent
Puma reported a steep loss in the second quarter as revenues fell 30.7 percent. Sales progressively improved sequentially throughout the quarter, down 6 percent in June after sliding 38 percent in May and 55 percent in April.
Addaday Strengthens Executive Team
Addaday, a maker of injury prevention and recovery technology, announced Ryan Dolan as CMO and Russell Coillot as Director of Specialty Run. Hugh Williams, previously the company’s Chief Marketing Officer, will assume the role as President in charge of business operations.
Compass Diversified Posts Q2 Loss on Flattish Sales Decline
Compass Diversified Holdings, the parent company of 5.11 Tactical, Liberty Safe, Velocity Sports and Marucci Sports, reported that net sales for the second quarter ended June 30 were $333.6 million, essentially flat to the $336.1 million reported for the quarter ended June 30, 2019. The net loss for the quarter was $7.4 million, compared to net income of $218.2 million in the year-ago quarter, which included a $206.5 million gain on the sale of its Clean Earth subsidiary. Adjusted EBITDA for the second quarter was $49.5 million versus $52.1 million for the quarter ended June 30, 2019.
Sturm, Ruger Rolls Out Special Dividend After Strong Q2 Results
Sturm, Ruger & Company, Inc. reported net sales surged 35.3 percent to $130.3 million in the second quarter ended June 27, compared with net sales of $96.3 million in the prior-year quarter. The company posted diluted earnings per share of $1.05 in Q2, triple the diluted EPS of 35 cents per share in the second quarter of 2019.
REI Ranked Best Employer For Women
REI ranked first in Forbes America’s Best Employers For Women list. Other firms participating in the active lifestyle space on the Top 200 ranking were Designer Brands, the parent of DSW, at 14; JCPenney, 92; Vail Resorts, 109; Hibbett Sports, 114; Nordstrom, 139; Topgolf, 149; Foot Locker, 163; and Nike, 177.
Spartan Race Cancels Rest Of The U.S. 2020 Season
Spartan Race is canceling all its U.S. obstacle races and trail races for the rest of 2020.
Nike To Open Third House Of Innovation In Paris
Nike will open its third House of Innovation at the historic 79 Avenue des Champs-Élysées in Paris. The location will open on July 30.
Shimano’s Sales Slide 12 Percent In Six Months
Shimano Inc.’s sales were down 11.9 in the first half ended June 30. Sales fell 14.6 percent in the Bicycle Components segment and 1.8 percent in the Fishing Tackle segment.
NJCAA 2020/21 Sports Plan Moves Football, Soccer, Volleyball To Spring
Following the recommendations from the National Junior College Athletic Association (NJCAA) Presidential Advisory Council and the NJCAA Board of Regents, the NJCAA has announced its adjusted plan of action for the upcoming 2020/21 academic year. Following the Board of Regents’ vote on Monday, a majority of competition will be moved to the spring semester.
Garmin Tops Wall Street On Fitness Segment Strength
Garmin Ltd. reported sales fell 9 percent and earnings were also down in the second quarter ended June 27 but results came in well above Wall Street’s targets. Revenues jumped 17 percent in the Fitness segment and increased 4 percent in the Marine segment while sliding only 4 percent in the Outdoor segment.
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