August 30, 2017 Net Off at Shoe Carnival in Q2, But BTS Trending Well
Net income declined 5% to $3,896,000 against $4,104,000 for the 13 weeks ended Jul. 29 as sales increased 1% to $235,064,000 from $231,907,000 on a 0.4% comp store gain despite a low-single-digit decline in store traffic and the net addition of two stores. Billabong Sees Improvements in Core but Turnaround Items Expand Loss
The net loss grew to AUD 71.1 million ($61.3 mm) from a loss of AUD 23.7 million for the FY ended Jun. 30 on a 9% decline in sales to AUD 974.7 million ($775.1 mm) from AUD 1,069.0 million, but BBG noted that EBITDA excluding discontinued operations and restructuring items doubled to AUD 99.3 million from AUD 49.8 million the year before, led by a significant improvement in its U.S. operations. Amer Sports Lowers Long Term Growth Target on U.S. Wholesale Weakness
The parent of Wilson, Salomon, Atomic and other brands revised its topline target for 2020 from €3.5 billion to mid-single-digit currency neutral growth while maintaining its bottom line forecast of exceeding top line growth during that period and generating at least 80% of net profit as free cash flow and keeping year end debt below three times cash flow.
Senior unsecured debt was raised to Baa2 from Baa3 with a stable outlook, as Moody’s said it recognized the progress BC had made in diversifying away from the cyclical boat business and in lowering its leverage. Columbia Settles With Former Employee
A civil case involving a former employee who is alleged to have accessed COLM’s internal computer network without authorization has been settled. |