October 30, 2017
Net income increased 9% to $8,241,000 from $7,594,000 in the third quarter with help from several one-time items, as revenues were also 9% higher at $88,132,000 vs. $80,818,000.
A federal magistrate delayed for 14 days a hearing involving three of those charged in connection with bribery and fraud allegations leveled against the University of Louisville’s men’s basketball program so that negotiations could continue on the possible disposition of the cases, according to a report in the Louisville Courier Journal.
Iconix said Walmart’s decision not to renew the Danskin license will depress revenues by some $15.6 million next year, which is likely to mean the company will not be in compliance with its debt covenants.
The Amarillo-TX-based store, which was in business 35 years, has been sold to Odessa-based Athletic Supply while Buck’s will continue to service the team market in the panhandle, according to the Amarillo Globe-News.
For the third straight year, the co-op will close all 151 stores and pay its 12,000 employees to go outside. It also announced a new experiential search engine at rei.com/opt-outside.
Net income from continuing operations was up 17% to SEK185 million ($22.2 mm) from SEK156 million for the three month period ended Sep. 30 on a 7% sales improvement to SEK1,385 million ($165.9 mm) from SEK 1,295 million.
Calling the allegations frivolous and malicious, SKX said it would vigorously defend itself against the lawsuit filed by the Steamfitters Local 449 Pension Fund which charges that the company misled shareholders about its business prospects prior to reporting its third quarter in 2015 when delivery delays because of the West Coast port slowdown caused the company to fall short of analysts’ expectations.
The Lululantics dropped their case against Under Dog with both agreeing to bear their own expenses, according to recent court filings.