Colombia delivers disappointing earnings; store closures likely
November 2, 2020
For the period ended Sept. 30, the athletic and outdoor retail group reported earnings of 94 cents per share, significantly below the prior year’s earnings of $1.75 per share. Revenues also decreased 23% to $701.1 million, compared with market watchers’ forecasts of $767.13 million. While most of their stores remained open during the pandemic, the company noted that overall physical store traffic and sales trends were well below prior-year levels. Read more on Footwear News.