May 24, 2018
Nike will supply on-field apparel for Major League Baseball beginning in 2020, as Under Armour has backed out of the deal it originally inked in Dec. 2016, Sport Business Daily reported, citing a confidential source.
Citing market share gains as a result of competitors changing their gun sales policies as well as some pull forward buying in March after the Parkland shooting, Sportsman’s Warehouse hit the high end of its guidance with a loss of $5,828,000 against a loss of $4,507,000 for the 13 weeks ended May 5.
Net income was $29,702,000 in fiscal Q4 ended Mar. 31 against a loss of $11,994,000 last year in a relatively small quarter seasonally that had revenues of $400,684,000, up 8% from $369,465,000 in the prior year.
Net income rose 57% to $12,955,000 from $8,231,000 for the 13 weeks ended May 5 on a 2% improvement in sales to $257,455,000 from $253,389,000 that included a 1.3% increase in comp store sales and the shuttering of three stores as part of SCVL’s ongoing program to upgrade the quality of its real estate.
The former Perry Ellis CEO sent a letter to the special committee of the company’s board giving them a deadline of May 29 to conclude negotiations on his go-private offer and enter into a definitive agreement, threatening to withdraw his $27.50 a share offer if the board does not act.
Ikea is recalling about 5,100 26-inch and 28-inch SLADDA bicycles because the bicycle drive belt can break.