October 30, 2018
Under Dog stock shot up 21% on heavy trading as it reported net income of $75,266,000 against $54,242,000 for the quarter ended Sep. 30 on a 2% gain in revenue to $1,442,976,000 from $1,408,991,000 that saw North American sales down 2% to $1,059,535,000 from $1,077,088,000 while international sales advanced 15% to $351,281,000 from $305,139,000.
With its rural-focused strategy for the Hibbett brand hitting some limits, HIBB agreed to buy inner city chain City Gear for $88 million plus a potential earnout of $25 million whose terms weren’t specified.
Net income was off 48% to $3,115,000 from $5,950,000 in the third quarter ended Sep. 30 on 2% lower revenues at $266,351,000 vs. $270,471,000 and negative 2.0% same store sales against a positive 1.7% comp last year.
He will replace Rob DeMartini when he steps down Dec. 31. Currently chief commercial officer of NB, Preston is a 23-year veteran of New Balance whose career has seen him have major roles in the international department which he ran from 2005 and most recently as EVP of global product, R&D and sports marketing.
President Trump is said to be preparing to impose duties on all imports from China that are not already subject to increased duties if talks between him and China’s President Xi Jinping at November’s G20 Summit fail to resolve the trade dispute between the two countries.
Delaware Chancery Court issued a preliminary injunction against NexGen Outfitters, an outdoor retailer started in Sidney, NE, by four former Cabela’s executives, prohibiting them from soliciting former CAB vendors, employees or customers.
Third quarter revenues at the Olin-owned ammunition maker were down 5% to $174.0 million from $183.8 million last year on lower shipments to commercial customers.
The 15-year extension of an initial deal signed just last year will pay the Premier League team around £30 million per year.
The footwear maker said that net income for the fiscal first half ended Sep. 30 would be down about 85% despite an 8% increase in revenue.