March 22, 2018
A $2.0 billion charge driven by the Tax Act resulted in a net loss of $921 million against income of $1,141 million in the fiscal third quarter ended Feb. 28, as sales increased 7% to $8,984 million from $8,432 million, boosted by gains in direct and international.
While the emphasis on the retaliatory duties will fall on aerospace, communications technology and machinery, the huge number of Chinese-made goods that would be needed to reach that $60 billion figure certainly does not exclude the possibility at this point that apparel, footwear and sports accessories could also be targeted by the additional duties which are now proposed at 25% in addition to any duties paid now.
Congress needs to get past partisan concerns and enact reforms about gun buying, Ed Stack argued in an op-ed piece published in the Washington Post.
Among the key initiatives for 2018 will be producing 100,000 pairs of 3D printed footwear through the Carbon technology partnership and the ramping up of production at the two Speedfactories in Germany and the U.S., the Big a told investors at the Deutsche Bank conference.
Net income from continuing operations doubled to RMB 515,155,000 ($76.2 mm) in 2017 from RMB 255,511,000 excluding the divested Double Happiness business, on sales that increased 11% to RMB 8,873,912,000 ($1,312.9 mm) from RMB 8,015,293,000.
Net loss narrowed to $542,000 from a loss of $20,105,000 in the final fiscal quarter ended Jan. 31 on 18% higher revenues at $714,897,000 vs. $603,289,000 boosted by $85 million in sales from the Donna Karan acquisition.
Rider Capital and Adam Smith Asset Management, who hold a combined 15.4% stake in Billabong, say they are undecided on whether to accept the A$1 per share offer of Boardriders to acquire the company and want Billabong’s board to revisit its options.
Dorel will take an additional $3.8 million bad debt allowance, or $3.1 million net of taxes, in Q4 2017 due to the bankrupt retailer’s decision to liquidate all its remaining stores.
Icon Health & Fitness said that True’s Alpine Runner incline trainer infringes on its patents Nos. 6,761,667 and 9,623,281 for treadmills that can achieve high incline angles.