August 02, 2017 Fitbit Has Horrible Q2, As Expected
The once high-flying wearables brand reported a net loss of $58,240,000 against income of $6,341,000 for the three months ended Jul. 1 as sales plummeted 40% to $353,299,000 from $586,528,000 as the domestic market for consumers who want a fitness tracker and don’t already have one continues to shrink. Garmin Outdoor Outperforms, Fitness Falters
GRMN’s Outdoor segment shot higher in the second quarter ended Jul. 1, with sales surging 46% to $194,776,000 million from $133,096,000 and operating income up 53% to $74,284,000 from $48,565,000. Iconix Refinances $300 Million of Debt
ICON will retire its convertible senior subordinated notes due in Mar. 2018 with a new five-year $300 million senior secured term loan from Deutsche Bank. Wolverine World Wide Sells Sebago to BasicNet
The 70-year-old boat shoe brand was sold for €12 million ($14.2 million) as part of WWW’s portfolio review announced in its Wolverine Way Forward restructuring plan. Adidas Renews MLS Deal Through 2024
The long-time sponsor of Major League Soccer has been extended for six more years, covering the leagues and its clubs as well as the youth academies and youth clubs. Etcetera: Mountain Safety Research, Foot Locker
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