March 27, 2019
The lulunatics had net income of $218,465,000, up 82% from last year’s $119,761,000 on a sales increase of 26% to $1,167,458,000 compared to $928,802,000 that saw comparable store sales grow 6% and digital revenue leaping another 37%.
The licensing company swung to a net loss of $69,077,000 in the fourth quarter from a profit of $24,744,000 last year on 18% lower revenues of $42,705,000 down from $52,299,000.
After efforts to sell a large screen printing distributor as a going concern failed, a court-appointed liquidator decided to wind down Heritage operations to pay off its secured creditors.
The Eastern District of CA federal court is asked to approve a class action settlement that would pay 10,700 current and former hourly employees of Dick’s for claims asserted from 2011 through 2017 a total of $2.9 million which includes $1,658,333 in awards to the general plaintiffs, $10,000 to the lead plaintiff and the balance in legal fees and administrative expenses.
Comprehensive net loss was ¥69 million ($0.6 mm) is the fiscal first half ended Feb. 28 against a profit of ¥319 million last year on flat revenues of ¥32,404 million ($287.3 mm) against ¥32,255 million at the Japanese retailer.
Descente has reached a power-sharing agreement to head off a hostile takeover from Itochu, its largest shareholder, that will reconstitute its board with two directors appointed by each company and two independent outside directors.