Tariff Refunds Power Huge Q2 Profit Gains
Aggregate sales and net income continued their positive trends from the first quarter, with Q2 revenue at public sporting goods companies growing 10% to $54,943.3 million from $50,130.6 million and the bottom line jumping 154% to $3,943.3 million from $1,552.3 million as IEEPA tariff refunds poured in. Net income still went +34% to $2,081.7 million when backing out the refund benefits. All sectors posted top-line gains for the quarter, with retail still ticking up 1% in the challenged environment when backing out ... Log in to view full article.