November 08, 2017
Bolstered by some momentum at the key Merrell brand and modest growth in the U.S. market, Wolverine World Wide declared that it would reach its target of a 12% operating margin for 2018 as it reported net income of $23.2 million, down 52% from $48.2 million for the 13 weeks ended Sep. 30 as revenues declined 4% to $581.3 million from $603.7 million.
Net income was $9,318,000 against a pre-IPO loss of $5,526,000 last year in the third quarter, on a 2% increase in sales to $347,263,000 from $339,318,000 driven by a solid launch of new hybrids and irons.
Adidas executive Jim Gatto along with four assistant basketball coaches, an agent, an Adidas consultant and a maker of custom apparel for professional athletes were indicted by a New York grand jury in the probe.
Fanatics extends its e-commerce relationship with Major League Soccer that will make it the exclusive licensee of fan gear, headwear and hardgoods globally.
Comprehensive net income was ¥1,681 million ($15.1 mm) against a loss of ¥1,126 million in the fiscal first half ended Sep. 30 as sales gained 9% to ¥28,759 million ($259.0 mm) from ¥26,469 million driven by early season sell-in of The North Face and Helly Hansen.
A nearly 2 billion foreign exchange improvement boosted comprehensive net income to ¥2,398 million ($21.6 mm) from ¥745 million in fiscal H1 ended Sep. 30 on 6% higher revenues at ¥44,951 million ($404.8 mm) vs. ¥42,274 million.
Stores will open at 6 PM on Thanksgiving and remain open until 2 AM. They will reopen at 5 AM on Black Friday and close at 10 PM.
Top Shelf Sports of Littleton, CO, listed a range of $100-500,000 in assets and $500,000-$1 million in liabilities, including $70,000 owed to Rawlings, $18,000 owed to STX and $40,000 owed to Easton.