November 12, 2019
The U.S. Supreme Court declined to hear an appeal filed by Remington of a decision by the Connecticut Supreme Court to let a lawsuit filed by victims of the Sandy Hook massacre proceed on the grounds that the gun maker illegally marketed its weapon.
Various entities controlled by Anta’s main shareholders and management will acquire the non-voting shares of the holding company that owns Amer Sports for €133.3 million.
Net loss was $35,708,000 in the third quarter against income of $20,224,000 last year, including a $17 million impairment charge for Marcy Media this year and a one-time non-cash gain last year, as licensing revenues declined 23% to $35,471,000 from $46,224,000.
Net income declined 57% at the Japanese multi-banner retailer to ¥1,469 million ($13.7 million) in the fiscal first half ended Sep. 30 from ¥3,433 million last year, on 1% higher sales of ¥117,505 million ($1,094.8 mm), up from ¥116,437 million.
Sumitomo Rubber’s sport division posted Q3 sales of ¥19,354 million ($180.4 mm), down 7% from ¥20,803 million last year, and the segment’s operating loss was ¥525 million ($4.9 mm) this year against a profit of ¥660 million prior.
Comprehensive net income declined 5% in the fiscal second quarter ended Sep. 30 to ¥934 million ($8.7 mm) from ¥986 million on 3% higher revenues of ¥24,434 million ($227.7 mm), up from ¥23,725 million.
The Japanese skiwear brand will not be accepting any mountain product orders in North America after the 2019/20 season, as it plans to transition to a distributor model here.