In today’s top retail news, Spectrum Brands reported its net sales climbed by 22.6 percent, while Stamps.com reported that total revenue increased by 25 percent. Plus, Peloton said its connected fitness subscriber base soared by 135 percent to a record 2 million users.
Spectrum Brands, whose portfolio includes names such as Kwikset, George Foreman and Repel, reported that net sales increased by 22.6 percent for Q2 fiscal 2021. “Our latest financial results for second quarter reflect another quarter of exceptional top-line growth and operating leverage,” Spectrum Brands Chairman and CEO David Maura said in an announcement. All in, the company posted $1.76 in adjusted diluted earnings per share (EPS).
Stamps.com reported as part of its financial results that total revenue soared 25 percent to $189.1 million in Q1 2021 from $151.3 million in Q1 2020. The eCommerce shipping company posted $2.08 in non-GAAP adjusted income per fully diluted share in Q1 2021. Stamps.com Chairman and CEO Ken McBride said in an earnings announcement that the company “continued to see strength in our financial performance in the first quarter of the year.”
Upscale fitness equipment maker Peloton announced Thursday (May 6) that its connected fitness subscriber base jumped by 135 percent to a blockbuster 2 million users. The New York-based firm also said its revenues soared by 141 percent to $1.2 billion as delivery wait times got better and subscriber cancellations fellow to a six-year low.
Following over 12 months of lockdowns and pandemic-related lifestyle limitations, consumers’ pent-up demand and desire to play once more could be seen in a trio of sports-related outlooks. The get-back-in-the-game trend is fully in play from apparel to shoes to fitness club memberships to rising attendance at big sporting events.