March 21, 2019
The Eager Beavertons were back in the black for fiscal Q3 ended Feb. 28, reporting net income of $1,101 million against a loss of $921 million last year that included a $2 billion charge from the Tax Act, on revenues that were up 7% to $9,611 million from $8,984 million and increased 11% constant currency.
The net loss in Q4 was $75,452,000 compared to income of $20,316,000 for the 13 weeks ended Feb. 2 against a 14 week last year with sales improving 3% to $720,263,000 against $702,465,000 and the final quarter pushed the FY into the red with a loss of $5,441,000 against profit of $87,200,000 with a sales gain of 2% to $2,834,846,000 against $2,785,584,000.
Net income was $62,226,000 compared to $59,690,000 for the FY ended Dec. 31 as sales rose 1% to $1,588,583,000 compared to $1,577,270,000.
Net income was $24,080,000 for the final quarter ended Jan. 31 against a loss of $542,000 as sales rose 7% to $766,785,000 from $714,897,000.
With the Anta-led consortium in control of 94.98% of the shares of Amer, it will elect a new slate of directors at an annual meeting Apr. 11.
Amer Inam, a native of India and a former senior director of analytics for Nike, filed a lawsuit charging the Eager Beavertons with racial discrimination.