May 23, 2017
Net loss narrowed to $161,000 from a loss of $2,745,000 last year in the first quarter ended Apr. 29 on 1% higher revenues at $120,947,000 vs. $120,218,000 and comp store sales that increased 0.6% including e-commerce compared to -4.1% last year.
Ramped up clearance activity sent profits down 23% to $22,967,000 from $30,014,000 in the first quarter ended Apr. 29 as revenues gained 1% to $691,102,000 from $681,267,000 but comp store sales still declined 3.0%.
The DE bankruptcy court agreed with WSFS, the remaining secured creditor, that a number of vendors who agreed to a settlement of their claims with the bank must pay what they owe under the agreement or face contempt charges and sanctions from the court.
From start to finish, the saga of Cabela’s ultimate sale to Bass Pro is surely one of the most complicated transactions in history.
Rechner was most recently CEO of kayak maker Confluence Outdoor, and prior to that she was president of Victorinox Swiss Army.
The fast fashion retailer opposed Puma’s motion for a preliminary injunction against what it alleged were knockoffs of the Creeper, Fur Slide and Bow Slide models, instead arguing the court should dismiss The Big Cat’s complaint entirely.