June 27, 2019
The Eager Beavertons reported net income of $989 million, off 13% from $1,137 million prior for the final quarter ended May 31 as total revenues rose 4% to $10,184 million against $9,789 million.
The hat retailer will change its product mix to reduce sports licensed caps to about 50% of its sales from 75% currently, while ramping up branded caps and exclusive collaborations, the New York Post reported.
The Seattle retailer, which operated two Ascent Outdoors stores in Redmond and Ballard and Ascent Cycles in Ballard, has been acquired by tech industry veteran Sandeep Nain.
Milliken & Company, which acquired the performance textiles maker earlier this month, picked Layton to take over leadership of the brand effective immediately.
The ratings agency did not change CAL’s Ba2 Corporate Family Rating after completing a periodic review, citing its recognized brand names, steady earnings, geographic diversity and low debt levels.