November 06, 2018
Net income fell 28% to $14,016,000 from $19,589,000 on a 6% increase in sales to $1,312,727,000 against $1,235,602,000 that was driven by the new Gander stores.
Just under a year after filing for bankruptcy, Maurice Sporting Goods backed by Middleton Partners has rebounded and is acquiring the hydration and portable cooling brand with sales of about $50 million.
Swoosh lawyers tried to poke holes in the seven Cahill vs. Nike plaintiffs’ allegations that the company compensated female employees less than their male counterparts, and asked the Oregon District Court judge to dismiss three of the suit’s four claims.
New lenders are reportedly helping to increase the DIP financing to $600 million from $300 million to fund an emergence from Chapter 11, but ESL Investments, controlled by former Sears CEO Eddie Lampert, isn’t among those in the current group because banks refused to give him the same seniority as they had on repayment.
DSW is paying about $238 million of the $341 million purchase price, including $57 million for 40% of Camuto’s proprietary brands with ABG taking 60%, and $181 million contribution for Camuto Group’s operations.