March 19, 2018
The holder of 6.9% of Newell Brands has reached an agreement with Newell under which it will appoint four to its board, including Patrick Campbell who will become chairman, and will designate another independent director to be approved by Newell’s board for election at the next annual meeting.
Comprehensive net income jumped 58% for the year to RMB 560,563,000 ($82.9 mm) from RMB 355,109,000 on 3% higher revenues of RMB 5,158,200,000 ($763.2 mm) vs. RMB 5,022,678,000 boosted by a rebounding Chinese economy in 2017.
Benefitting from a HKD 198 million increase in fair value of investment properties and a 254 million positive swing in exchange differences on translation of foreign operations, Symphony comprehensive net income was HKD 272,449,000 ($37.8 mm) against a loss of HKD 53,123,000 for the year.
Terms of the deal were not disclosed, but based on its comments about its portfolio, it’s likely that VF has been trying to shop the Nautica brand for some time without much interest.
Jordan Outdoor Enterprises is suing Kanye West’s Yeezy Apparel for using its copyrighted Realtree camouflage patterns without authorization and removing identifying copyright management information from the patterns.
Adjusted sales for sporting goods/hobby/book and music stores declined 4% to $6,967 million last month from $7,221 million in Feb. 2017, according to Commerce Dept. data.