Hilco Streambank, an intellectual property advisory firm, announced the pending sale of the intellectual property assets of Modell’s Sporting Goods with the execution of a stalking-horse bid for the assets at $1.97 million.
Author: SGB Media
Delta Apparel Fiscal Q3 Results Improved As Period Progressed
Delta Apparel, Inc. reported net sales for the fiscal third quarter ended June 27 were $71.8 million, or approximately 60 percent of prior-year quarter net sales of $119.3 million. DLA said monthly sales performance sequentially accelerated throughout the third quarter from April sales at 33 percent of prior-year levels to June sales at nearly 90 percent of prior-year levels. Net sales in the Delta Group segment and Salt Life Group segment decreased 39.0 percent and 47.2 percent, respectively, from the prior-year period.
Columbia Sportswear Releases 2019 Corporate Responsibility Report
Columbia Sportswear Company released its 2019 Corporate Responsibility Report, which includes highlights from the progress made throughout 2019 in the three main areas of focus in its corporate responsibility strategy – empowering people, sustaining places and responsible practices.
Columbia Sportswear’s Q2 Revenues Slump 40 Percent
Columbia Sportswear Co. joined a number of industry players reporting a loss in the second quarter amid significant sales declines due to the fallout from COVID-19, but results came in better than Wall Street targets. Among brands, sales declined 42 percent at Columbia, 12 percent for Sorel, 28 percent for Prana, and 44 percent at Mountain Hardwear.
HanesBrands’ Q2 Boosted By Apparel And PPE
Driven by a better-than-expected performance from both its apparel and its new PPE (personal protection equipment) businesses, Hanesbrands swung to a surprise profit in the second quarter. Point-of-sale (POS) in its U.S. basics and Champion businesses in May and June exceeded pre-COVID levels.
Crocs’ Q2 Profits Climb On Strong Expense Cuts
Crocs Inc.’s sales slid 7.6 percent in the third quarter as a 67.7 percent jump in online sales was unable to offer declines at wholesale and physical retail. Profits improved sharply due to higher gross margins and expense controls.
Gildan Posts Wider Net Loss In Q2 As Sales Plummet Over 70 Percent
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.
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.
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