May 14, 2018
Blaming an awkward separation from the operating systems of former parent Adidas, a challenging retail environment and a rocky relationship with its 3PL provider, Rockport files for bankruptcy protection in DE listing some $257.2 million in debts and another $29.6 million in trade debt.
Comprehensive net income was off 18% to $119,036,000 from $144,327,000 in the first quarter on 9% higher total sales at $2,287,391,000 from $2,100,810,000.
Net income inched up 2% at Descente Ltd. for the fiscal year ended Mar. 31 to ¥5,771 million ($51.5 mm) from ¥5,650 million on sales of ¥141,124 million ($1,258.2 mm), up 7% from ¥131,543 million with increases across all product segments.
The Japanese retailer’s bottom line surged 42% to ¥4,249 million ($37.9 mm) from ¥2,991 million in the fiscal year ended Mar. 31 on 5 % higher revenues of ¥234,595 million ($2,091.5 mm) vs. ¥223,353 million.
The National Retail Federation launched an anti-tariff television and digital ad campaign in which character actor and economic and political commentator Ben Stein reprises his famous lecture from the 1986 movie.