March 12, 2019
Still lapping its decision to change its gun sales policy plus a 14th week last year, Dick’s net income fell 12% to $102,555,000 from $115,951,000 for the 13 weeks ended Feb. 2 with sales down 6% to $2,492,090,000 from $2,664,122,000 on a 2.2% comp store decline adjusted for the extra week.
Berkeley Research Group has been hired to explore various alternatives for the 150-store chain, which include possibilities ranging from an out-of-court restructuring to a Chapter 11 filing, according to a story in the Wall Street Journal.
Comprehensive net income at the Chinese running brand increased 19% to RMB 578,962,000 ($87.5 mm) in 2018 from RMB 485,583,000 including a RMB 170.3 million negative swing on exchange differences in foreign operations, as revenues jumped 25% to RMB 6,383,165,000 ($964.8 mm) from RMB 5,113,434,000.
Show owner Emerald Expositions announced that it will add a cycling section to the Fall Outdoor Retailer show in Denver.