Daily News Feed
Skechers Sales Surge but Net Drops on International Spending
Net income slipped 20% to $59,535,000 from $74,107,000 in the second quarter pulled down by increased investments in international expansion even as revenues soared 17% to $1,025,934,000 from $877,810,000 and gross margins were strong at 47.6%, up 20 basis points.
The objectives unveiled by the U.S Trade Representative for updating NAFTA were light on inflammatory rhetoric and heavy on ensuring that the process goes smoothly, much to the relief of many importers like the AAMA and the NRF.
The loss of over 100 off-course golf retail doors in 2016 presents an opportunity for on-course retail and custom fitting specialists, according to the 2017 Serious Golfers Shopping and Purchasing Habits Study from Golf Datatech.
The founders of the team sports participant app company are offering 1,273,612 of the 4,831,612 shares, or 26.4% of the company, at $0.25 per share that will gross them $318,403.
The Second Skin line, initially just compression apparel, will now include training apparel for men and women at 350 Dick’s stores.
Tod Leiweke, NFL COO along with Jeff Kearney, Gatorade global head of sports marketing, Matt Powell, NPD VP of industry analysis and Rakhil Hirdaramani, a director at Hirdaramani Group will speak at the event to be held in Chicago on Sep. 13-14.
Sports Atrocity Bankruptcy Judge moves to Enforce Consignment Settlement
A DE bankruptcy court ordered four vendors to pay term loan lender WSFS a total of $189,361.38 within five business days of a Jul. 18 order, stayed until an Aug. 22 hearing the amounts owed by five additional vendors and sanctioned eight additional vendors, ordering them to pay the amounts due as well as legal costs in connection with pursuing the bank’s claim.
Revenue plunged 20% to €126.3 million ($145.4 million) from €157.2 million in the second quarter in TOM2’s Consumer segment, which includes its fitness watch and wearable products.
The women’s specialty concept, which was billed from the start as a lab for its women’s business, will close next month, according to the Pittsburgh Post Gazette.
The case, filed in federal court of MA, alleges that Benjamin Russell DBA Imadebogey.com is infringing on its Titleist trademarks by selling products under the trademarks Titlost and Titties.
The 19-year Eager Beaverton replaces David Ayre, who is retiring after holding the position for more than 10 years.
The multi-year deal covers the men’s and women’s volleyball and beach volleyball teams, including junior and Paralympic teams.
Kohlberg Closes on Newell Winter Sports
The sale of the K2, Marker, Volkl and Dalbello brands for $240 million has closed with Kohlberg announcing that Cristoph Bronder, currently CEO of Marker Dalbello Volkl, will become CEO of the new enterprise while Robert Marcovitch, president of K2, will be leaving the company after a transition period.
David Reichert, fired as senior account executive for licensed apparel in the St. Louis area, is indicted for selling merchandise to two retail accounts that he secretly owned and overriding the discounts from the standard three to seven per cent range to give himself discounts of 25% to 65%.
The expansion of the Beaverton headquarters will add six buildings and 3.2 million sq. ft. of space.
The NBA uniforms that will replace Adidas with the upcoming season will provide each team with at least four choices.