May 10, 2018
Net income rose to ¥4.9 billion ($45 mm) for the fiscal year ended Mar. 31 against ¥0.7 billion last year on 2% lower revenues at ¥185.4 billion ($1,711 million) vs. ¥188.7 billion, with the top line decline entirely from an 8% drop in footwear to ¥54.2 billion ($500 mm).
The deal will add an international brand with sales of C$500 million ($387.6 mm) and EBITDA of C$50 million and that is already well established in Canada to the country’s largest sports retailer.
Indignant that Adidas has been paying high school athletes to attend schools with which it has endorsement deals, Skechers filed suit in federal court in LA charging the Big a with false advertising and unfair competition and seeking the return of its ill-gotten gains to Skechers along with its increased advertising costs to compete in the performance basketball market.
O.F. Mossberg & Sons and MKS Supply which sells Hi-Point firearms joined Springfield Armory as gun companies that will no longer sell to Dick’s or Field & Stream as a result of its lobbying efforts to increase regulation of guns.
Comprehensive net income slipped 17% to ¥2,258.7 million ($20.8 mm) from ¥2,727.7 million for the fiscal year ended Mar. 31 on 2% higher revenues of ¥62,188.0 million ($573.9 mm) from ¥61,042.8 million.
Comp store sales increased 1.7% for the four weeks ended May 5, lapping a 7.8% increase last year when Easter was included in the month, but gained 8.3% in all of Q1 vs. 1.8% last year.
Adams was EVP global merchandising and product development at Disney, a post she has held since 2008.
Fear of future tariffs on Chinese-made goods is leading retailers to bring in products at an accelerated rate, according to the NRF’s Global Port Tracker report.