June 05, 2018
The net loss was $2,331,000 against a profit of $885,000 for the first quarter ended May 5, typically a low volume period for the company, as sales were flat at $644,959,000 compared to $643,368,000.
Building on a recent trend where the leagues are increasingly looking at new ways to generate revenue from products, Rawlings will be sold to a Seidler Equity Partners fund that will also include Major League Baseball, Rawlings’ most important licensor by far.
Net income was $9,885,000 against a loss of $10,391,000 in the first quarter ended Apr. 30 on sales that surged 16% to $611,743,000 from $529,042,000 driven by solid gains in wholesale sales.
The licensing company has sold its 56-door franchised retail chain Flip Flop Shops to footwear maker Bearpaw Holdings.