August 09, 2017
The investment will lift the total valuation of Fanatics to $4.5 billion, which would make it the third most valuable retailer in the U.S. behind Lululemon ($8.4 bb) and Foot Locker ($6.5 bb) and ahead of Dick’s ($4.2 bb).
Net income was $20,700,000 for the 13 weeks ended Jul. 1 this year against $24.0 million for the 12 weeks ended Jun. 16 as sales improved 3% to $598,800,000 from $583,700,000, but adjusted results that exclude the impact of restructuring moves, store closures exchange, exchange and portfolio changes as well as the extra week in this year showed underlying revenue gained 1%.
Net income surged 54% to $18,086,000 from $11,735,000 helped by improving margins and expense management in the second quarter on sales that were down 3% to $313,221,000 from $323,828,000.
ICON’s net income jumped to $41,234,000 from $11,582,000 in the second quarter, boosted by the sale of its Entertainment segment offset by several other one time charges, as licensing revenues dipped 10% to $61,647,000 from $68,209,000.
While we are still trying to identify the Chief Title Creation Officer at Under Dog, it will be looking for a new executive whose main mission will be crafting the image of CEO Kevin Plank as well as working on the organizational strategic planning process, according to the Baltimore Business Journal.
Lululemon sets a new partnership with Athletic Propulsion Labs, the venture run by the twin sons of former Reebok and LA Gear executive Mark Goldston.
The forecast for a record 1.75 million TEU would be up 2.1% from last year as retail supply chains are working hard to keep up with demand, according to the NRF’s Global Port Tracker service.