September 24, 2019
Nike came out of the blocks strong in its fiscal first quarter ended Aug. 31, handily beating Wall St. expectations with a 25% jump in net income to $1,367 million from $1,092 million on a 7% revenue gain to $10,660 million from $9,948 million powered by 27% currency neutral growth in China and improvement from all regions and categories.
Claiming it has the right to match Nike’s reported £80 million per year offer for Liverpool, New Balance has taken the club to court to enforce the deal.
Manchester United’s commercial revenue increased 5% to £66.7 million ($85.7 mm) in the final fiscal quarter ended Jun. 30, including a 7% gain in sponsorship revenue to £41.5 million and a 3% bump in retail, merchandising, apparel & product licensing revenue to £25.2 million.
The ratings agency lowered its rating to B- from B, saying that its high operating expenses are hampering its ability to pay down its massive debt from the $2.9 billion buyout of the company last year by Bain Capital from Charlesbank which involved a total debt load of $2 billion.
The U.S. economy has certainly had a good run, but despite increasing doom and gloom from business pundits, 71% of consumers overall and 77% of millennials are confident the economy will improve next year, according to OpenX’s 2019 Consumer Holiday Shopping Report.
The Julia Love Pritt Private Foundation, based in Seattle, WA, signs on as PHIT’s first presenting sponsor with a multi-million dollar commitment to implement the AMPED before-school physical activity program and support locally organized team sports leagues through The PASS.