February 02, 2017
The giant U.K. retail chain, which made a somewhat half-assed attempt to buy The Sports Authority in bankruptcy, is again said to be looking at gaining a toehold in the U.S. market as the stalking horse bidder in a new bankruptcy that would involve Eastern Mountain Sports and Bob’s Stores, according to a report in Reuters.
Without including a net $141 million non-cash reversal of a deferred tax valuation allowance, ELY’s net loss would have improved to $17,343,000 from a loss of $30,452,000 on a 7% sales gain to 163,695,000 from $153,331,000 in the seasonally small quarter.
Warm weather in Oct. And Nov. spooked the market place for its Ugg brand as Deckers reported a 74% reduction in net income to $41,027,000 from $156,921,000 with sales falling 5% to $760,345,000 from $795,902,000 for the third quarter ended Dec. 31.
GoPro experienced a net loss of $115,709,000 in Q4 ended Dec. 31, which included charges of $102 million for a full valuation allowance on U.S. deferred tax assets and nearly $37 million for restructuring costs, compared to a loss of $34,451,000 last year.
Activewear segment operating profit gained 9% to $64,575,000 from $59,325,000 in the fourth quarter on sales of $383,465,000, up 3% from $373,166,000.
The Boundbrook, NJ, sporting goods institution, which closed its doors after a GOB sale last Sep. after more than 100 years in business, filed for liquidation in NJ federal bankruptcy court.
Following the 26% stock price decline after its earnings miss on Q4, at least five law firms announced they were investigating Under Dog for a possible shareholder lawsuit.