Dillard’s Inc. announced that it has amended its $800 million senior unsecured revolving credit facility consistent with the company’s liquidity needs.
Author: SGB Media
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 might have withdrawn its fiscal 2020 guidance due to coronavirus-related economic uncertainty, but the Olathe, KS-based maker of wearable technology and at-home fitness products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.
Jim Gerson Returns As President Of Speedo North America
Pentland Group, which recently completed its acquisition of the Speedo North America business from PVH Corp., announced that Jim Gerson will be returning to the business as president of Speedo North America.
Macy’s Plans To Reopen 68 Stores On Monday
Macy’s Inc plans to reopen 68 stores on Monday in states that reduced coronavirus lockdown restrictions, according to the Wall Street Journal.
Stio Hires Senior Sourcing And Production Manager
Stio, the Jackson Hole-based outdoor apparel brand, hired Gena Calegari as its senior sourcing and production manager. Calegari was most recently the global production of maternity and plus at Old Navy.
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.
NCAA Outlines Plan To Let Athletes Make Endorsement Deals
The NCAA’s Board of Governors announced that it had approved recommendations under which student-athletes could receive income for third-party endorsements, as well as social media opportunities, other business ventures and personal appearances that fall within certain guidelines.
Wolverine World Wide’s Debt Ratings Lowered
S&P Global Ratings lowered the debt ratings of Wolverine World Wide Inc. because it expects the footwear company’s revenue and profitability will be significantly impaired by lower consumer demand in the U.S. and retail store closures related to measures taken to contain the spread of the COVID-19 pandemic.
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