February 21, 2018
President Trump instructed the justice department to draft a ban on bump stocks, and has reportedly expressed willingness to support other unspecified forms of gun control legislation in response to last week’s school shooting in Parkland, FL, that left 17 dead.
In closing out a year with a net loss of $60.3 million compared to a loss of $1.9 million last year for the 13 weeks ended Dec. 30 on a revenue decline of 21% to $578.6 million against $729.6 million, Wolverine declared that the heavy lifting in its transformation process was now behind it and it would see underlying growth in 2018 in the mid-single-digit range that would be led by high-single-digit growth in Merrell, stabilization at Sperry and growth in the rest of its portfolio.
The Canadian investment group that acquired Performance Sports Group out of bankruptcy is rumored to be among the suitors for the baseball company that Newell Brands recently listed for divestiture.
GRMN’s Outdoor segment sales increased 16% to $203,278,000 in the 13 weeks ended Dec. 30 from $175,397,000 in the 14-week final quarter in 2016, while the Fitness segment eked out a 1% sales gain to $276,195,000 from $274,052,000 after three quarters of declines.
Big Foot plans to spend $230 million this year compared to about $270 million in 2017 and will ramp up spending on digital investments vs. brick-and-mortar.
Apparel sales were $215 billion last year, down 2% from 2016, despite the continued strength of the athleisure trend, which sent activewear sales up 2% to $48 billion, according to NPD Group.
The plan filed in the Eastern District of TX would pay all administrative and priority claims in full although not all would be paid with interest and there would be payout schedules ranging from one to five years.
Gallo comes to the recovery footwear maker from Adidas, where he was most recently general manager of the sports license division.