May 08, 2019
With talks between the U.S. and China apparently stalled and President Trump threatening to increase duties on $200 million in imports to 25% from 10%, the likelihood is growing that tariffs will escalate on Friday, including on a number of key sporting goods products.
After 13 consecutive quarters of declines here, Asics sales increased 4% in North America to ¥19,847 million ($180.1 mm) in Q1 on the strength of an improved Performance Running business, but the region had a loss of ¥1,484 million ($13.5 mm) on reduced gross margin and heavy investment in marketing.
The loss was $19,395,000 against a profit of $1,821,000 for the three months ended Mar. 31 as revenues gained 1% to $1,064,769,000 from $1,058,661,000.
Net income fell 16% to $34,926,000 in the first quarter from $41,484,000 as revenue dropped 2% to $433,702,000 from $441,801,000 lapping last year’s new club introductions, but would have been up 1% on a constant currency basis.
Citing ongoing weakness in the firearms market where NICS checks declined 8% in the period, Sturm, Ruger net income fell 9% to $13,033,000 from $14,264,000 as sales declined 13% to $114,038,000 from $131,159,000 for the period ended Mar. 30.
The jury found Christian Dawkins guilty of conspiracy to commit bribery and bribery while Merl Code was convicted of conspiracy to commit bribery.
A $161.2 million impairment charge for the Martha Stewart and Emeril Lagasse brands sent SQBG deep into the red in the first quarter, resulting in a net loss of $125,345,000 against a loss of $2,264,000 last year, on 3% lower licensing revenues of $36,913,000 down from $38,104,000.
The Big a will extend its kit deal with Real Madrid through 2028 for a guaranteed minimum of €1.1 billion, confirming last month’s rumors.
The 15-year-old Mexican custom performance apparel maker sees Brownsville, TX-based Peaks Apparel as an avenue that will allow it to ramp up its production and distribution in North America.
The acquisitive fishing company backed by PE firm Fingle Flagen Group has acquired 50% of the multi-brand lure and tackle maker, with the investment to be used for new product design, building brand awareness, marketing and sales.
Canadian team dealer Kahunaverse Sports Group will add Soccer Express’ broad assortment of soccer products to its portfolio, along with an e-commerce site and two distribution centers in eastern and western Canada.