May 04, 2018 VF Sees Big Gains From Digital, Vans In Stub Quarter
Net income jumped 21% to $252,793,000 from $209,163,000 on 22% higher revenues of $3,045,446,000 vs. $2,500,340,000 in the three month stub quarter ended Mar. 31 as VFC adjusts to an Apr. to Mar. fiscal year. Iconix Revenues Decline in Q1 as Jay-Z Ducks Subpoena
A $25 million non-cash gain on change in fair value of convertible debt boosted net income to $32,715,000 against a loss of $4,280,000 in the first quarter, but licensing revenue declined 17% to $48,548,000 from $58,722,000. Nike Sues Puma on Flyknit, Air and Soccer Patents
A wide ranging suit filed in MA federal court claims that Puma’s Ignite, Mostro and Jamming models infringe on Nike’s Flyknit patents and that the Jamming further infringes on its Air technology patents. Dorel Sports Slips on Toys “R” Us Impairment
The Sports segment had an operating loss of $774,000 against a profit of $10,114,000 including a $7 million bad debt writedown from the bankrupt retailer, as sales slipped 3% to $206,687,000 from $214,016,000 on weak consumer demand at major mass channel retailers, and lost shipments to Toys “R” Us. Johnson Outdoors’ Profits Surge in FQ2
Net income was up 55% to $21,620,000 from $13,959,000 as strong sales gains from its fishing business sent JOUT revenue 11% higher at $165,778,000 from $149,807,000 in the second fiscal quarter ended Mar. 30. Newell Will Sell Pure Fishing, Too
Newell adds Pure Fishing to its list of sports brands that it plans to sell in addition to Rawlings and the already sold winter sports group.
Dick’s Sporting Goods was expelled from the National Shooting Sports Foundation by a unanimous vote of the directors for its lobbying activities on behalf of stricter gun control and its decision to tighten sales restrictions in its own stores. |