May 23, 2019
Comprehensive net income dipped 20% to $23,843,000 from $29,702,000 in the seasonally small final fiscal quarter ended Mar. 31, on revenues that fell 2% to $394,130,000 from $400,684,000 including a 7% decline from Ugg, mainly due to retail store closures.
Skechers told B. Riley investors it is seeing struggles in domestic wholesale coming out of Q1, but its own backlog is positive with a pared down focus to successful styles for the upcoming seasons.
The ratings service affirmed its Caa3 rating on Tom’s term loan but lowered the probability of default to Caa3 from Caa2.
The parent of sporting goods retailer Centauro has bid $2.80 per share for the troubled e-commerce retailer, valuing it at $87 million.
The Swedish helmet maker is acquiring the Fluid Inside patent rights and brand, which were jointly developed by Oblique Technology L.P. and the University of Ottawa in Canada.
Total sport products sales north of the border were up 3% to $15.3 billion in the first quarter, according to NPD/Canadian Sporting Goods Association research.