May 02, 2019
Net income was $22,477,000 in the first quarter against a loss of $30,244,000 last year on 2% higher overall revenues at $1,204,722,000 up from $1,185,370,000 driven by a 25% gain in Asia-Pacific sales, but North America dipped 3%.
In what is likely to be a recurring theme over the next few years, a major Chinese footwear brand with limited international presence has acquired an internationally known brand.
Net income inched up to $79,482,000 from $79,409,000 in the first quarter as revenue grew 8% to $1,588,024,000 from $1,471,504,000 driven by strong U.S. activewear growth, broad-based international growth, increased sales of U.S. innerwear basics, and strong Champion sales.
Net income for Q1 was $2,167,000, compared to a loss of $3,261,000 in 2018 on revenues that increased 15% to $155,353,000 from $135,257,000. The DTC channel saw a 28% increase to $61.7 million driven by strong performance in the drinkware category, and reached 40% of sales mix for Q1.
The major sticking points of phasing out U.S. tariffs and enforcement of the deal are said to be resolved in principle following a meeting between Treasury Secretary Steve Mnuchin and USTR Robert Lighthizer with Vice Premier Liu He.
Defendant Christian Dawkins tried to blow the lid off the prosecution’s bribery case in testimony he gave that essentially said that the FBI informant’s business strategy made no practical sense at all, but since he was funding his agency he went along with it by pretending to give money to college coaches.
5.11 Tactical sales increased 5% to $88,089,000 from $83,957,000 in the first quarter and segment income was $2,338,000 against a loss of $617,000 last year.
The fitness equipment maker agreed to supply new heart rate monitoring chest straps and extend the warranty on included chest straps for about 4,000 class members who bought its treadmills.