June 14, 2019
Revenues increased 4% in the first quarter to $43,760,762,000 from $42,049,277,000 at the 49 industry companies we track, halving the 8% growth pace we saw in the Holiday quarter, as Return on Sales jumped to 6.8% from 3.0% as profits more than doubled to $2,997,101 from $1,248,957.
Standard & Poors will issue a D rating on Academy as a result of it purchasing its own debt at a discount, but it also noted that it planned to review that rating next week with the intention of restoring the CCC+ rating that the retailer had previously.
Jana Partners, controlled by Barry Rosenstein, has accumulated a 8,671,810 ELY shares, a 9.22% stake, and will make a case to the company’s board that it should sell itself or divest recently acquired Jack Wolfskin, which it warned would have disappointing revenues this year.
Despite a last minute $4.10 per share bid from Centauro, Brazil’s largest sporting goods retailer, NETS shareholders voted to accept Magazine Luiza’s $3.70 per share offer.
The Big a is suing Cavalier Closeouts Inc. in Central CA District Court for importing and distributing large volumes of knockoff Adidas and Reebok apparel doing business as Apparel Liquidators.
As it completes the move to its new Denver headquarters, VFC will shutter its warranty center in Alameda, CA, in Aug., laying off the remaining 52 employees there, the San Francisco Business Times reported.
Adjusted sales for sporting goods/hobby/book and music stores dipped for the 18th straight month, but the decline decelerated to just 4% in May to $6,469 million from $6,753 million, according to Commerce Dept. data.