April 26, 2017 Trump Tax Proposal Silent on Border Adjustment Tax
While not explicitly rejecting the controversial proposal to tax imports, a plan opposed by the vast majority of the retail and sporting goods industries, President Trump’s plan looks sure to get a thumbs up from most of the industry as it does call for a reduction in the corporate tax rate from 35% to 15% on both C and S Corp. businesses and does not include the Border Adjustment Tax. Hibbett is Latest Retailer to See Q1 Blown Up by Late Tax Refunds
The small town operator lowered guidance by a whopping $0.30 per share because of comps that are expected to be down 4-5% for the first quarter ending Apr. 29. West Marine Shrinks Loss on Lower Spending
WMAR’s net loss narrowed to $7,270,000 from a loss of $9,113,000 in the seasonally small first quarter ended Apr. 1, on 1% lower revenues of $129,063,000 from $130,405,000 and flat comp store sales. Thule Sales, Income, Gain in Q1
Net income increased 20% to SEK 203 million ($22.7 million) from SEK 169 million in the first quarter, as sales expanded 16% to SEK 1,599 million ($179.2 million) from SEK 1,380 million.
The Kering-owned extreme sports brand saw sales decline 4% to €55.2 million ($58.8 million) from €57.2 million in the first quarter, pulled down by the struggling specialty retail segment in the U.S. Vail Resorts Updates Retail Sales
Retail/Rental Revenues at the company’s 200-plus ski and snowboard stores increased 3.4% during the 2016-17 season-to-date. Jordan Brand Signs NFL Prospects
Ohio State safety Malik Hooker and Notre Dame quarterback DeShone Kizer will be the latest prospects to wear the Jumpman, joining LSU safety Jamal Adams who signed last month. CPSC Recall: Chromag Bicycle Stems
Chromag Bikes is recalling about 100 Chromag bicycle stems because the clamping bolts that secure the stem to the fork steerer and/or the handlebars can break. Etcetera: Dick’s, Adidas, Ping
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