February 10, 2020
Net loss expanded slightly to $29,218,000 against a loss of $28,499,000 in Q4 ’18 as the addition of Jack Wolfskin and strong organic growth in a seasonally small quarter for golf gear sent revenues 73% higher to $311,941,000 from $180,678,000.
While the official extension of the Chinese New Year holiday was scheduled to end today, many factories remain closed with the coronavirus outbreak still not contained and workers hampered in getting back to their jobs.
Net income declined 39% to ¥308 million ($2.8 mm) in the fiscal third quarter ended Dec. 31 from ¥501 million last year as revenues slipped 9% to ¥37,242 million ($342.6 mm) from ¥40,702 million.
Net income expanded by 9% to €361,511,000 ($404.8 mm) in 2019 from €332,395,000 the year before on 15% higher revenues of €1,627,704,000 ($1,822.7 mm) from €1,420,074,000, driven by a 16% increase in retail sales that included a +7% same store sales gain.
Gary Franklin, coach of the California Supreme Team, told the court that Nike’s director of youth basketball Carlton DeBose told him to submit false invoices for $60,000 that went to the parents and handlers of three prominent high school basketball recruits, including current Phoenix Suns center Deandre Ayton and Nuggets center Bol Bol.
Kathmandu Group expects EBIT to be up 40% year-over-year for the fiscal first half ended Jan. 31, including three months of contribution and deal-related expenses from the Rip Curl acquisition that closed Oct. 31.
The acquisitive team dealer is buying out a significant competitor in Riddell’s Kollege Town division, and will hire about 50 of its sales rep, sales management and customer service staff.
Mike Polk will take the helm of the Berkshire Partners-owned parent of Sof Sole, Balega, Yaktrax, Spenco and many other brands, succeeding current CEO Seth Richards and president Todd Vore, who are leaving the company to pursue other opportunities.