HBC not making a penny on Olympic mitten sales

Today’s Olympic Mitten Update comes from Time, which is a little late to the story, considering there are only three days left in the Games. Heck, even Oprah scooped them.

HBC’s CEO, Jeffery Sherman, tells Time that 3.5 million pairs have been sold since they went on sale in October—1.5 million of them were sold this month—and that the company doesn’t make a penny off the sales. Sherman says that the proceeds from the mittens ($12 million so far) go to the Canadian Olympic Committee to fund athletes’ programs. Sherman says he doesn’t regret not getting a piece of the profits and that “we entered this to do the right thing.” Besides, the hype surrounding the accessory has led to increased traffic in the stores and overall sales.