May 06, 2019
Scheduled talks in Washington to conclude a trade deal were in doubt after President Trump tweeted out that he was thinking of raising tariffs from 10% to 25% this Friday on some $200 billion in imports and placing new tariffs “shortly” on everything that was not already being hit with tariffs, a threat that would affect about half of all sporting goods imports.
Brunswick will sell its fitness business and related brands to NY-based KPS Capital Partners for about $490 million in cash in a deal expected to close later in the second quarter.
NLS’ first quarter bottom line was $8,575,000 in the red against a profit of $8,059,000 last year on revenues that dropped 26% to $84,400,000 from $114,813,000 on weakness in both the direct and retail segments, as Bowflex Max Trainer sales continue to disappoint.
Net income was $3,787,000 for the first quarter this year ended Mar. 31 compared to $403,000 last year as sales improved 15% to $61,218,000 against $53,267,000, which included a 19% improvement in domestic sales to $30,589,000 vs. $25,654,000 and a1 11% improvement in international sales to $30,629,000 compared to $27,613,000.