Daily News Feed
JD Sports, With Boost from U.S., Reports Solid Growth in 2019
Pre-tax income rose 8% to £375.3 million ($468.9 mm) from £348.5 million as revenues jumped 30% to £6,110.8 million ($7,635.1 mm) from £4,717.8 million with this year’s results including charges of £90.3 million in accounting and goodwill impairment adjustments.
Under Dog is looking to sell the food consumption and exercise tracking app and website that it acquired in 2015 for $475 million, according to a report in The Information, citing sources close to the matter.
The parents of 2-year-old Samuel Stallworth are suing Nike Retail Services and its Santa Monica store manager Wendy Magee, for accusing him of stealing a child-sized basketball which they had just purchased.
The down-under retailer said that Kathmandu brick-and-mortar same store sales are up 2.2% and online sales increased 78% in the six weeks from May 18 through June 28, now that many stores have reopened.
Several large national retailers, including DKS, Walmart and Target, have removed licensed Washington Redskins apparel and other items from shelves and websites, USA Today reported.
Uncharted Supply Co., which sells preparedness products, secured an unspecified Series A investment from Black Oak Capital.
Minor will take the helm of the PE-owned fishing gear company after a 37-year career with Strike King Lure Company, most recently as VP sales & marketing.
The Eager Beavertons added another case to the batch of lawsuits it’s filed in Chicago federal court so far this year, targeting hundreds more online marketplace seller accounts.
Washington NFL and Cleveland MLB Study Changing Names
With multiple fronts pushing to eliminate names seen as racist by Native Americans and a growing portion of the general public, the Washington Redskins are studying a name change after years of hard line resistance and the Cleveland Indians, who have been gradually removing some of their more overt symbols like Chief Wahoo, are doing the same.
Head will incorporate the Australian brand of swim goggles into a newly formed Swimming Business Unit with annual revenues estimated at well over €100 million ($113 mm).
NLS plans to divest its commercial fitness business to focus entirely on the home exercise equipment market, and has hired investment banker, William Blair, to find a buyer.
The revolving credit facility is being provided by Intesa Sanpaolo S.p.A. and has a two year term, with an option for another two year extension.
Mueller is seeking a declaration of non-infringement for trade dress or patent rights of competing kinesiology tape brand KT Health, in a suit filed in WI federal court.
The bike maker’s Chairman Emeritus and former Chairman Yoshizo Shimano died of chronic heart failure on July 3. He was 85.
Reader Notice: SGI Office Closure
The SGI office is closed this week for the Independence Day holiday. Our next issue will be July 10.
Net income attributable to shareholders jumped 59% to HK$223,458,000 ($28.5 mm) in the year ended Mar. 31 from HK$140,418,000 on 12% higher sales of HK$3,017,120,000 ($385.3 mm) up from HK$2,700,780,000.
Net loss attributable to shareholders for the year ended Mar. 31 was HK$51,386,000 ($6.6 mm) against a profit of HK$35,593,000 as the top line contracted by 5% to HK$1,050,064,000 ($134.1 mm) from HK$1,100,649,000.
Firearms sales growth continued to accelerate last month, as scenes of social unrest following the George Floyd killing and calls for defunding police departments drove more fear-based gun demand.
After Cabela’s most recent setback in which the Third Circuit declined to overturn a district court ruling in the Highbys’ favor, the original suit that was filed in Sep. 2018 was dismissed with prejudice.
The Newell-owned outdoor company says that Taiwan-based Team Worldwide is infringing on its patent no. 7,089,618 for an air mattress with an internal side support.