Daily News Feed
Skechers Comes Back Strong in Q1 on Big International Gains
Net income more than doubled to $98,573,000 from $49,101,000 on revenues that were up 15% (+12% constant currency) to a record $1,428,418,000 over $1,242,345,000 and were up 12% from the more normal Q1 ‘19.
On the heels of last weekend’s warning issued by the CPSC, Tread+ owner Shannon Albright has filed a proposed class action suit against Peloton in Sacramento, CA, federal court, claiming the treadmill has significant design flaws.
First quarter revenues expanded by 18% at the luxury outerwear brand to €365,459,000 ($440.4 mm) from €310,108,000 million and were up 21% in constant currency, driven by strong results from China, Korea and North America.
Net income for the first quarter was up 85% to SEK 447 million ($53.3 mm) from SEK 241 million on revenues that increased 46% to SEK 2,538 million ($302.6 mm) from SEK 1,744 million.
VFC promoted 20-year company veteran Matt Puckett to EVP and chief financial officer, succeeding Scott Roe, who is leaving in May after the end of its fiscal year.
Anta International Group Holdings has agreed to sell about 88 million shares in Anta Sports Products, of which it is the controlling shareholder, through a private placement.
European Super League Dies a Quick Death
The 24 hours of controversy for European soccer from Sunday into Monday was not to be outdone as the events of Monday into Tuesday sent the proposed European Super League plunging off a cliff.
GCO is targeting a yet-to-be-determined date in mid-July for its annual shareholders meeting, saying that its board of directors needs additional time to review the slate of director candidates proposed by activist investor, Legion Partners.
Paul Stoneham intends to leave HH after six years as chief executive, a tenure that saw the Norwegian outdoor brand acquired by Canadian Tire in 2018.
Now that we’re starting to anniversary last spring’s pandemic-driven National Park closures, double- and even triple-digit increases in park visits will be the rule over the next few months.
CAP Barbell says that Cosy Family, Inc. and Fitness Insanity LLC are infringing on its trademarks by selling counterfeit CAP branded exercise equipment on an Amazon storefront.
Brompton Bicycle is recalling about 600 electric folding bicycles because a software malfunction can cause the electric system to continue providing motor assistance even when the rider is not actively pedaling.
Nike’s Kobe Bryant Contract Lapses
Bryant’s widow Vanessa Bryant revealed on social media that the endorsement contract with Nike, which allows the use of the Kobe name on sneakers and apparel, expired on Apr. 13.
DLA expects revenues for its second fiscal quarter to come in at about $108 million, a 12% improvement from last year, generating net income of $0.58 to $0.60 per share ($4.1 mm) compared to $0.19.
Gap, Inc.’s women’s activewear banner will launch e-commerce in Canada late this summer and open retail stores at Yorkdale Shopping Center in North York, ON, and Park Royal Shopping Centre in West Vancouver, BC this fall.
Originally envisioned as a multi-building complex that would accommodate 10,000 workers, Under Dog has scaled back its plans for the Port Covington location and set a target of 2025 for the project to be complete.
China Dongxiang said that revenues from the Kappa brand grew in the mid-60% range in its fiscal Q4 ended Mar. 31, including low-seventies growth from stores and a high thirties gain from e-commerce.
The football helmet maker saw a No. IL federal court judge throw out the claim that the design of Riddell football helmets is defective, brought by of a group of former high school and college football players who had brain injuries.