Sporting Goods Industry News for August 23, 2016
The U.S. Trustee is asking Judge Mary Walrath to deny the Sports Authority debtors’ New Insider Bonus Motion which seeks to pay three insiders up to $1.525 million dollars, claiming the payments are impermissible retention bonuses.
The Australian skateboard maker’s net income jumped 28% to A$4,740,000 ($3.5 mm) from A$3,718,000 on sales that gained 10% to A$150,822,000 ($110.9 mm) from A$137,674,000 in the fiscal year ended Jun. 30.
The team uniform and performance athletic wear maker sees its founders Jerry and Bill Carr sell controlling interest to the private equity firm.
After last week announcing that it will not be able to file its 10-K by the SEC deadline, PSG said it will not hold its annual meeting originally scheduled for Oct. 5, 2016.
McDonald’s is recalling 32.6 million Step-iT activity wristbands because the plastic can cause skin irritation or burns on children.