SGB Update Apparel
VF’s Q1 Sales Fall 48 Percent, But Bounce Back In China
VF Corp. reported a net loss of $285.6 million, or 73 cents a share, in the first quarter ended June 30 as revenues tumbled 48 percent. The loss was 10 cents better and sales were slightly above Wall Street’s targets. VF said it has seen recovery in China and expects revenues for the current quarter to be down less than 25 percent.
Under Armour Posts Steep Loss In Q2
Under Armour reported a net loss of $183 million in the second quarter ended June 30, including $39 million in restructuring charges. Revenues were down 41 percent. Sales topped Wall Street’s target but losses were significantly below. Sales in North America were down 45 percent.
NPD Report: June Golf Equipment U.S. Sales Jump 51 Percent
As golf courses around the United States continue to reopen, golf equipment dollar sales grew by 51 percent in June compared to the comparable month last year, building off of the market’s 22 percent growth in May according to The NPD Group.
Modell’s Sets Stalking Horse Bid For IP Assets
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.
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.
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.
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.
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.
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.
Nike Withdraws Plans For Manufacturing Plant Near Phoenix
Nike Inc. said it is canceling plans to open a plant in Goodyear, AZ just outside of Phoenix, AZ to make soles for its Nike Air shoes as part of its Nike Air Manufacturing Innovation (Air MI) program.
