Columbia Sportswear Posts Q1 Operating Loss, Sales Slide 13 Percent

Columbia Sportswear Company reported an operating loss of $2 million in the first quarter as sales fell 13 percent. Chairman, President and Chief Executive Officer Tim Boyle said, “It is important to note that we entered into this crisis in a position of strength, with a fortress balance sheet and top quartile operating margin performance in our industry in 2019. As consumers look to make every dollar they spend count within this challenging economic environment, we believe the Columbia brand’s differentiated innovation and exceptional value are as important as ever.”

CODI’s Q1 Revenue Slips Amid COVID-19 Pressure

Compass Diversified Holdings reported net income for the first quarter of $4.9 million on revenue of $333.4 million, which was a 1.6 percent decline from the same quarter a year ago and missed expectations by $3.6 million.

Golf Rounds Played Slide In March

Golf rounds played for March 2020 fell 8.5 percent nationally compared to a year ago, according to Golf Datatech. Double-digit increases in the New England, East North Central and Mid Atlantic regions were offset by a steep decline in the Pacific region and smaller declines in the South Central and South Atlantic.

Delta Apparel Ekes Out EPS Beat In Q1

Delta Apparel Inc. reported earnings per share for its fiscal second quarter ended March 28 of 19 cents, beating analysts’ estimates by 1 cent while revenue of $96.7 million was in line with Wall Street’s targets—two notable achievements as the coronavirus impacted business in the latter half of the period.

Why Garmin Is Bullish On Post-Coronavirus Opportunities

Garmin Ltd. might have withdrawn its fiscal 2020 guidance due to coronavirus-related economic uncertainty, but the Olathe, KS-based maker of wearable technology and at-home fitness products emerged from the first quarter with an unusual abundance of confidence. President and CEO Cliff Pemble explains why.

HanesBrands’ Q1 Sales Drop 17 Percent

HanesBrands Inc. the parent of Hanes and Champion, reported earnings tumbled 77.3 percent in the first quarter as sales declined 17.0 percent. The company estimated that COVID-19 reduced GAAP and adjusted results by $181 million in net sales, $86 million in operating profit, and 20 cents per share in EPS.

How COVID-19 Is Impacting The Outdoor Recreation Industry

The outdoor recreation industry is facing dramatically decreased sales and revenue, difficulties with production and distribution, and large numbers of furloughs and layoffs due to the coronavirus, according to member survey from the Outdoor Recreation Roundtable (ORR).

Winchester’s Q1 Revenues Climb 20 Percent

Olin Corp. reported sales in its Winchester firearms segment were $188.0 million for the first quarter compared to $157.2 million in the first quarter 2019, representing a gain of 19.6 percent. The increase in sales was primarily due to higher commercial and military sales.

Gildan Activewear Posts Q1 Loss After Charges

Gildan Activewear reported a net loss of $99.3 million, or 50 cents per share, in the first quarter after after-tax charges of approximately $110 million, or 56 cents per share. Excluding charges, adjusted earnings were down 65.9 percent as sales dropped 26.4 percent.