Daily News Feed
Conservative Black Pastor Group Asks Nike to Dump Kaepernick
Citing the controversial former NFL quarterback’s views as “fringe opinions,” the Coalition of African American Pastors urged Nike to cut its ties to Kaepernick and to make a new set of Betsy Ross flag footwear with the proceeds targeted for the benefit of veterans and groups that help military families.
Pushing back against a number of short sellers who have questioned its accounting practices, Anta said preliminary results for H1 would show an operating profit of approximately RMB 2.689 billion ($390.8 mm), up 38% from RMB 1.945 billion last year.
MTN will pay $11.00 per share for SKIS’ portfolio of regional resorts in the Northeast and Midwest, in a deal that values Peak Resorts at about $264 million.
Last week, multiple news outlets reported that the department store chain had been in talks with lawyers and investment bankers to help it restructure its $4 billion in debt and avoid a possible bankruptcy filing.
Jarden investors saw a DE Chancery Court judge rule that the fair value of the company was $48.31 per share, well below the $59.21 per share paid by Newell in its 2016 acquisition.
Equipment Market Shows Gains In 2018
While there was some strength in cycling, golf and winter sports, that was partially offset by weakness in the hunting and team markets, the global equipment market managed a 3.0% increase in 2018 globally to an estimated $80,051 million from $77,692 million with the U.S. market up just 1.4% to an estimated $34,505 million from $34,136 million and the international market growing at a 4.6% clip to an estimated $45,546 million from $43,556 million.
Net income increased 17% for the first half of 2019 to €29,700,000 ($33.4 mm) from €25,485,000 on 7% higher sales of €682,636,000 ($767.0 mm) up from €635,872,000 attributed to surging e-bike sales in Europe.
The judge presiding over the bankruptcy of Ellet parent SportCo approved the unsecured creditors’ motion from earlier this week and ordered the debtors to comply with any reasonable document requests from the committee and Emerald related to the going concern sale process.
The Eager Beavertons’ response to their former endorser’s suit over ownership of the Claw logo claims that Leonard did not create it, but merely provided a crude sketch to Nike’s design team.
The Big a’s collaboration with Arizona Iced Tea planned a limited release of two original sneaker designs for just $0.99 a pair at a pop-up store in SoHo.
Skechers Sees International Drive Double-Digit Gains
Net income increased 66% to $75,200,000 from $45,300,000 in the second quarter as revenue increased 11% (+14% CC) to $1,258,600,000 from $1,134,800,000 driven by a 20% increase in international business and a 2% gain in the U.S.
The e-commerce goliath said that its sales on the two days of Prime Day, Jul. 15-16, were higher that its combined sales on Black Friday and Cyber Monday last year, but of course did not release actual sales figures.
Comprehensive net income slipped 20% to SEK 416 million ($44.1 mm) from SEK 517 million in the second quarter on 7% higher revenues of SEK 2,311 million ($244.7 mm) vs. SEK 2,155 million, but were up just 3% constant currency as the krona weakened against the dollar and Euro.
The footwear maker’s revenues declined 1% to $438.0 million from $443.5 million in the second quarter, but improved product mix and customer mix has made those sales much more profitable, and Stella expects H1 net income to increase more than 70% when it reports in Aug.
The connected exercise bike maker has received an unspecified investment from North Castle Partners earmarked for expansion of its business.
The International Trade Commission issued a general exclusion order against eight Chinese companies that were infringing on Bear Archery’s U.S. Patent No. 6,978,775.