Sporting Goods Industry News for October 23, 2017
Led by an impressive 28% increase in its biggest single brand that was offset by a $104.6 million impairment charge on Nautica, VF reported net income fell 23% to $386,140,000 compared to $498,489,000 for the three months ended Sep. 30 as sales rose 6% to $3,481,202,000 from $3,298,484,000.
The U.S. Patent and Trademark Office denied a petition by Adidas that would have found some of the Eager Beavertons’ key Flyknit patents unprotectable because of obviousness in a review.
The Under Dog co-founder and college roommate of CEO Kevin Plank is currently a strategic advisor to the company, but had held many senior roles there during its two decades of rapid expansion.
Marcato Capital turned up the heat in its proxy battle with DECK, filing a suit in DE chancery court seeking to force it to confirm its Dec. 14 annual meeting date and to disable change of control triggers that could cost the company millions.
Sales in the eyewear giant’s North American retail segment, which includes Oakley and Sunglass Hut, contracted 9.7% to €1,005 million ($1,180 million) from €1,113 million in the third quarter.
While SKX seems to be firing on all cylinders now with its ramped up international expansion, lawyers for the Steamfitters Local 449 Pension Plan filed suit accusing the company of misleading investors in 2015 with its optimistic guidance.
The Central FL-based RV dealer will add its four locations to CWH’s 14 existing Florida outposts and continue to operate under its existing name.
City Bicycle Works in Sacremento, CA, is the bike maker’s latest acquisition following its buyout of two regional chains, DC-area Revolution Cycles and SE PA-based Bike Line, earlier this year.
The company, which has registered the “whynot?” trademark and sells screenprinted apparel and other items, is suing Nike for using it on Jordan’s Westbrook collection.