January 11, 2017
ELY paid about 7.6x the projected incremental EBITDA of $10 million annually that Ogio is expected to generate after integration costs.
In the past year, TLYS has throttled back on expansion, instead focusing on making the existing store base more productive and profitable, with a goal of returning to high-single-digit operating margins.
Iconix Brand Group CEO John Haugh, who took the reins last spring after a tumultuous year of management departures and accounting issues, laid out the steps he’s taken and the work left to do for investors at the ICR conference.
Following a 3.3% comp decline in Nov., brick-and-mortar traffic declined further in Dec., and SCVL management cut prices to clear merchandise, giving up 210 basis points of margin resulting in inventories that were down mid-single digits on a per store basis at month end.
Total revenue increased 2.8% to $760,851,000 from $740,436,000 for the month, while the year to date total was $8,487,726,000, up 0.6% against $8,437,559,000.
The U.S. Patent and Trademark Office reaffirmed its patent No. 9,121,642 which covers the method of cooling Coolcore uses in its products, following a legal challenge from a competitor.