February 01, 2017
The Plano, TX-based running specialty chain seeks to reorganize, closing seven of its 11 stores but continuing to operate four profitable stores in Dallas, Fort Worth, Southlake and Plano.
A day after reporting disappointing earnings, Standard & Poors lowered its rating on Under Dog’s $600 million in unsecured bonds to BBB-, one level below investment grade, saying that they expect the company’s sales to grow at just 10% going forward because of competitive pressure and rising costs that will squeeze margins.
Parent company Olin said Winchester operating income increased 15% to $25.0 million from $21.8 million in Q4 on sales that were 3% higher at $161.4 million vs. $156.7 million.
Comprehensive net income was ¥1,933 million ($17.7 million) vs. a loss of ¥591 million in the fiscal third quarter ended Dec. 31, on revenues that declined 5% to ¥30,322 million ($277.2 million) from ¥31,888 million.
The action sports retailer said comps rose 9.4% for the four weeks ended Jan. 28 against a 4.6% decline the prior year.
ICON is looking to sell its majority stake in Peanuts Worldwide, according to Reuters.
The Varsity Brands subsidiary completed the acquisition of the team division of Erie Sport Store based in Erie, PA. ESS covers PA, OH & NY and will add its sales staff to BSN.
She is a 33-year veteran of the organization, most recently serving as EVP, with a stint as VP of technical committee operations before that.