March 28, 2018
Net income was off 44% to $5,888,000 from $10,540,000 for the 14 weeks ended Feb. 3 as sales gained 10% to $243,165,000 from $221,376,000 as the addition of 12 new stores and improved e-commerce sales offset a 5.2% decline in brick & mortar stores.
The Eager Beavertons contract to outfit all 32 teams on the field and sidelines will now run through 2028 after signing an eight-year extension to the existing deal that runs through 2020.
The DE bankruptcy court confirmed a $50 million and $25 million DIP financing package for the gun-maker as part of a restructuring agreement negotiated with its lenders that will convert $775 million in debt into equity and ultimately provide exit financing to Remington for an expected exit from Chapter 11 later this Spring.
Boardriders upped its offer for its Australian competitor by A$0.05 per share to A$1.05 and received 95.45% approval on the deal from Billabong shareholders on the transaction.
The former head of Vans returns to VF in a new position that will evidently see him focus on VF’s sneaker business.