January 30, 2019
The ratings agency lowered the rating on Academy’s senior secured term loan to Caa2 from Caa1 just four months after lowering it from B3, and changed the company’s ratings outlook to negative from stable.
Comprehensive net income tumbled 76% to ¥1,264 million ($11.4 mm) from ¥5,205 million for the nine months ended Dec. 31, including a ¥2.2 billion negative swing in foreign exchange, on 2% higher revenues of ¥100,915 million ($913.8 mm) up from ¥98,898 million.
Charlesbank Capital Partners, which bought the beach footwear brand from VF Corp. last fall to add to The Rockport Group, tapped footwear industry veteran Mike Jensen to lead the brand.
The chancery division of England’s High Court ruled that most of the claims of Philips’ “athlete’s GPS-based performance monitor” patent were invalid as obvious, World IP Review reported.
Hong Kong-based Sportspower is suing Taiwanese Crowntec in E. TX District Court, claiming that the defendant’s Jump Power trampolines are infringing on its patented design and JumpPower mark.
Oakley is suing FL-based Slam Sports for selling $25 sunglasses that use its stylized “O” trademark on the retailer’s Facebook page, which has since been taken down.