March 15, 2017
That is an increase of 50% from the €3.41 billion that the Group achieved in 2016, which was composed of €2,897 million from the Adidas brand and €514 million from Reebok.
Net income at the Chinese footwear and apparel brand declined 28% to RMB355,109,000 ($53.4 million) from RMB494,919,000 on 13% higher revenues at RMB5,022,678,000 ($756.0 million) vs. RMB4,458,701,000.
That’s roughly how long Vista thinks it will take before industry production and retail stocks are back in balance; however, the time frame for the cyclical downturn is usually in the 12-18 month range, it told investors at the Roth Capital Markets Conference.
The company will cut 270 jobs, or about 17% of its 1,552 employees, as part of its efforts to get SG&A under control which it now projects will bring full-year GAAP operating expenses to below $585 million.
Global Leisure Concepts Pty Ltd., which distributes Implus and other brands of sporting goods products in the region, will be renamed Implus Australia.
Pentland has taken a majority stake in the 46-year-old casual lifestyle sneaker brand for an undisclosed sum.
The Canadian retailer opened the temporary concept shops in 186 doors, focused on the “metropolitan female athlete” and featuring a collection NB lifestyle and performance apparel.
Trade creditors named by U.S. Trustee Daniel Mcdermott to the Official Committee of Unsecured Creditors are Ellett Brothers, Carhartt, Smith & Wesson, Pure Fishing, Benelli USA, Vista Outdoor and Liberty Safe.
Hyper Wear is suing Fitness Depot alleging the retailer copied its sand-filled neoprene freeweights under the confusingly similar “Sand Bell”name.
Advanced Sports International is recalling about 650 Fuji bicycles with Oval Concepts rear wheels because the rear wheel freehub can slip while pedaling.