February 25, 2019
Net income plunged 84% in the final quarter to $1,362,000 from $8,444,000 on a 10% top line decline to $115,385,000 from $127,771,000 in which a 30% drop in direct sales more than offset a 16% improvement in retail (wholesale) sales.
Citing “substantial progress” in this weekend’s talks on the thornier issues of intellectual property protection and technology transfer, President Trump suggested he was planning another summit meeting with President Xi that would finalize a trade agreement and put an end to a year-long trade war between the world’s two largest economies.
Morgan Stanley and Goldman Sachs will be co-lead underwriters for the indoor fitness brand at a valuation that would ranks as the 10th largest in sporting goods right now and represents a rough doubling in value since its last venture round in 2018 when it raised $550 million at a $4.15 billion valuation, according to Bloomberg.
Net income was $3,607,000, down 18% from $4,396,000 for the final quarter ended Dec. 31 as revenues were flat at $67,186,000 against $66,994,000, which brought the FY to earnings of $14,553,000, up 52% from $9,586,000 on sales that were flat at $252,694,000 compared to $253,197,000.
The Intervale, NH-based outdoor apparel and accessories maker emerged from Chapter 11 bankruptcy last month and is operating again with a loan from an undisclosed investor, the Union Leader reported.
Mascot Bidco Oy, the company jointly owned by Anta, Lululemon founder Chip Wilson, FountainVest and Tencent, received the required regulatory authority approvals for the tender offer, but is still working towards the necessary 90% acceptance rate for the deal to go through, having extended the acceptance period by a week to Mar. 7.
The ratings agency confirmed its Baa2 senior unsecured rating with a stable outlook for BC, noting that it expects the company’s credit profile to remain strong after the divestiture of Life Fitness.
Pro Impact Sports, a boxing, squash, cricket, badminton, cricket, and rugby equipment distributor, is suing FL-based Pro Impact, LLC for using its trademark.