Sporting Goods Industry News for May 18, 2018
For the second consecutive quarter, U.S. sporting goods imports rose at a moderate rate pretty much across the board as the market has evidently put the volatile swings of recent years caused by the bankruptcy epidemic in the past.
With Congress set to repeal many of the reforms of the Dodd Frank law next week, the NRA and Gun Owners of America are lobbying Republican lawmakers to penalize banks that won’t lend to the gun industry, the most prominent of which are Citigroup and Bank of America.
The case in Eastern district New York federal court is suing the top management and some board members for making misleading claims about the company’s prospects in 2016 and early 2017 prior to the disappointing results that Big Foot reported after Q1 17.
The Big Cat leased space for a three-floor 24,000-sq.-ft. store on Fifth Ave. at 49th St. just two blocks north of the 45,000-sq.-ft. Adidas flagship and three blocks south of Nike’s new 69,000-sq.-ft. store, which will replace the now-closed Trump Tower Niketown.
George Feldenkreis, the largest holder of PERY shares with 10.8% of the company, has proposed taking the company private with an offer of $27.50 a share but says the board has been dragging its feet.
The federal court in Canada ruled that Bauer independently developed its Suspend-Tech technology for rotational impact and that Bauer’s Re-Akt helmets do not infringe on the Swedish company’s patents.
Easton is being sued in Central CA District Court by lead plaintiff Ricky Wisdom, who is bringing a class action accusing the company of having poor quality control which results in youth baseball bats weighing more than labeled and advertised.
Patrik Frisk bought 14,000 Class A shares at $18.50 and another 14,000 Class C shares at $16.62 in the past week, according to filings with the SEC. In total, he paid $491,680 for the shares.