Daily News Feed
Skechers Sales Keep Climbing, But Net Declines on Higher Spending
Net income slipped 24% to $45,284,000 from $59,535,000 in the second quarter, pulled down by higher SG&A spending despite an 11% increase in sales to $1,134,797,000 from $1,025,934,000.
The Eastern Mountain Sports and Bob’s Stores chains acquired from bankruptcy had trading losses of £9.2 million ($12.0 mm) for the 52 weeks ended Apr. 29 on top of another £17.2 million in accounting adjustments.
That’s more or less the conclusion of the New York Times, which conducted an extensive study using data from 500,000 marathon and half marathon times over the past four years.
Rockport sees the DE bankruptcy court approve its asset sale to Charlesbank for $150 million, but with substantial changes pending the outcome of its dispute with Adidas.
Net income increased 11% to SEK 385 million ($47.5 mm) from SEK 348 million in the second quarter, on 10% higher revenues of SEK 2,155 million ($265.7 mm) against SEK 1,955 million.
The ratings agency upped WWW’s corporate family rating to Ba1 from Ba2, and its senior unsecured notes due 2026 to Ba2 from Ba3, with a stable rating outlook, citing the completion of its restructuring initiatives.
Under Dog is suing iFindMedia for selling apparel featuring Respect This House text and logo, claiming that the line infringes on its Protect This House mark, used since 2003.
The 24 defendants are accused of selling counterfeit Cleveland Golf and Srixon merchandise through seller accounts on marketplace sites such as eBay and Wish.
Stockholders Seidler Equity Partners and SK Capital Holdings will sell 2,822,652 shares in an offering underwritten by D.A. Davidson.
Randa, Perry Ellis Board Continue to Swap Insults
The company’s board released another statement reiterating its commitment to the insider Feldenkreis deal that would pay shareholders $27.50 rather than the $28.00 offered by Randa Accessories.
The Guangzhou-based factory said as of Sep., it would no longer be doing business with the customer that accounted for 87% of its business for the last FY and 88% of its business for H1 of this year.
The shelf registration is for 9,500,000 shares of TLYS Class A shares at $14.975 per share, a slight discount to the current trading price, but with no specified timetable for the sale.
The $1.3 billion Chinese apparel and footwear brand, which has sponsored the NBA veteran since 2012, signed him to a lifetime contract coinciding with the release of his latest signature shoe, the Way of Wade 7.
Navajo Nation Offer to Buy Remington Rejected
The tribe, which controls a $3.3 billion trust, offered to buy the storied gun maker for $475-525 million in cash in May as it was emerging from bankruptcy and many thought the two major shareholders, Franklin Templeton and JP Morgan Chase who swapped their debt for equity in the emerged company, would be eager to unload the politically charged investment, according to a story in the New York Times.
The discount shoe seller finished the process of adding kids’ departments to all of its 517 stores that began with a 2014 test that exceeded expectations, with the rollout plan commencing in 2015.
The defendants are a mix of web sites and seller accounts on marketplaces like eBay and Wish, that are accused of selling counterfeits using one or more of ELY’s trademarks.
TeamLine, Ltd., based in Irving, TX, in the Dallas market, is the latest regional team dealer to be scooped up by the acquisitive BSN.