April 12, 2019 Industry Profits Up 3% in Q4 on Solid 8% Sales Gain
Despite all the puts and takes of last year’s tax reform bill and ongoing restructuring charges, industry profits for the final quarter of 2018 were essentially unchanged at $1,735.3 million compared to $1,782.5 million as sales rose to $46,532.4 million from $43,234.1 million. Academy Debt Repurchase Labeled Distressed Exchange
The ratings agency said the chain’s recent purchases of $89.1 million of its $1.8 billion in debt at a deep discount was considered a “distressed exchange” that harmed lenders to the extent that it was a limited default. Liverpool in Talks with Nike over Huge Kit Deal
The Premier League club is in advanced negotiations with Nike over a long-term kit deal that would vault the Reds into the top tier of soccer sponsorships, ESPN FC reported. Riddell Sues Former Salesman and BSN Sports
Riddell is suing Brad Horstmann, a former sales representative for its KollegeTown Sports team dealer operation, and BSN Sports, alleging that Horstmann violated his non-competition agreement when he joined BSN. Etcetera: Foot Locker, Hanesbrands, Hydro Flask
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