September 10, 2019
VSTO expects a top line hit of about $40 million in the current fiscal year ending Mar. 31, 2020, from Walmart’s decision to stop selling some ammunition calibers, and revised its revenue guidance down to $1.75 to $1.85 billion from the previous range of $1.79 to $1.89 billion.
With most of U.K. retail in disarray because of the uncertainty surrounding the relationship with the EU, JD Sports had surprisingly strong results in its home market and continues to see progress in its U.S. operations as it reported net profit of £98.0 million ($120.8 mm) for the 26 weeks ended Aug. 3 compared to £95.4 million last year as sales rose 47% to £2,721.2 million ($3,358.8 mm) against £1,846.3 million.
July retail imports exceeded estimates, coming in at 1.96 million TEU, up 2.9% year-over-year, as retailers bring in as much merchandise as they can before each new round of tariffs takes effect and drives up prices.
Total sales increased 5% for the month to $840,326,000 from $799,511,000, but the gains came entirely from the Pou Sheng Chinese retail operation, which jumped 25% in Aug. to $313,890,000 from $251,098,000.
The eyewear brand sees the Court of Justice of the European Union overturn a European Intellectual Property Office decision that a logo registered by a Chinese individual, Xuebo Ye, did not infringe on its elliptical logo.
The law, which is expected to reach Governor Gavin Newsom’s desk soon and become law Jan. 1, 2023, would permit college athletes to sign endorsement deals.