February 28, 2019
Net income was off 37% in the final quarter to $11,418,000 from $18,247,000 at the Titleist and FootJoy parent, on revenues that slipped 2% to $343,355,000 from $351,392,000 and were broadly lower across regions and categories.
Net loss was $118,685,000 in the fourth quarter including a final, $107.8 million charge to convert Blackstone’s preferred shares, against a loss of $28,272,000, on 9% higher revenues of $215,989,000 from $199,112,000 million, with store closures and business model changes reducing revenues by about $7 million.
Net income at the vertical luxury outerwear brand increased by 33% in 2018 to €332,395,000 ($392.4 mm) from €249,688,000 as revenues improved 19% to €1,420,074,000 ($1,676.6 mm) from €1,193,704,000, accelerating from 2017’s gains of 27% and 15%, respectively.
The global deal involving the flagship team and four other clubs that it owns will more than triple the £20 million per year deal that Nike was paying.
The Eager Beavertons had raised arguments in the case alleging widespread unequal treatment of women in pay and promotion that the class description was overly broad but the court ruled that at this stage of the proceedings, the plaintiffs had only to demonstrate that they had a plausible argument that there was widespread discrimination against women at the company’s headquarters.
CODI’s 5.11 Tactical segment swung to a net loss of $2,467,000 in the fourth quarter from a profit of $5,638,000 on an 18% sales increase to $95,899,000 from $81,528,000 but gross margin dropped 670 basis points to 43.4%.
The outdoor chain acquired by TJX in 2012 for about $200 million will be renamed Sierra, the parent announced during its Q4 earnings call.
Coupang, S. Korea’s largest e-commerce retailer, has a 10-year deal as exclusive marketplace of licensed products.
NC State is demanding $258,585 from former Adidas head of basketball marketing Jim Gatto who is awaiting sentencing after a conviction last year for conspiracy to pay college recruits and their families under the table money to commit to Adidas-sponsored schools.