August 14, 2018
Although Randa had offered to up its bid beyond $28.90 per share, already $1.40 over the offer of the Feldenkreis family, the Randa bid was contingent on the transfer of the license of PERY’s largest licensor, presumably the Nike swimwear license, whose approval has been withheld.
Net income improved 74% to KRW81,139 million ($71.5 mm) from KRW46,760 million for the second quarter ended in Jun. as sales rose 14% to KRW790,170 million ($696.7 mm) from KRW692,867 million.
Comprehensive net income at the Chinese sports brand surged 43% to RMB267,696,000 ($42.0 mm) from RMB187,322,000 in the first half, on 18% higher sales of RMB4,712,773,000 ($738.7 mm) compared to RMB3,996,051,000 last year, driven by a 31% jump in apparel sales.
Comprehensive net income was up 53% to RMB1,982.5 million ($310.7 mm) from RMB1,293.9 million, driven by 370 basis points of gross margin gains on 44% higher revenues of RMB10,553.5 million ($1,684.2 mm) up from RMB7,323.2 million.
The bike maker’s comprehensive net income declined 35% to NT$746.8 million ($23.9 mm) from NT$1,151.1 million in the second quarter on 13% higher revenues of NT$15,196.1 million ($486.3 mm) vs. NT$13,475.2 million on strength in private label sales and electric bikes.
Its unsecured debt and commercial paper ratings were kept at A3 and P2, respectively, with a stable outlook following the announcement of the jeans spin-off.