February 11, 2020
The net loss of $15,304,000 for the final quarter ended Dec. 31 included a $42.3 million hit from several accounting items and was against income of $4,218,000 in a seasonally strong period with revenue up 4% to $1,441,225,000 against $1,389,980,000.
The U.K.’s Competition and Markets Authority said in a preliminary ruling that JD’s acquisition of the 70-store Footasylum chain could result in fewer discounts and less choice in stores and online for consumers.
In search of an updated image, the doughty purveyor of oxford shirts and pinstripes has embarked on a makeover despite a 1980 agreement with Brooks Sports that gave Brooks the rights to the Brooks trademark for athletic apparel, footwear and sporting goods and Brooks Brothers the rights to other apparel and footwear with a specific carve out that allowed them to make golf shirts.
The prolonged Lunar New Year factory shutdowns caused by the coronavirus outbreak are expected to send Feb. retail imports down 12.9% year-over-year to 1.41 million Twenty-Foot Equivalent Units and March down 9.5% to 1.46 million TEU, according to the NRF’s PortTracker.
Net income slipped 55% at the multi-banner Japanese retailer to ¥1,655 million ($15.2 mm) from ¥3,657 million in the nine months ended Dec. 31, as revenues inched down to ¥173,948 million ($1,595.2 mm) from ¥174,301 million.
JHT is acquiring 60% of Fuji Medical Instruments, owner of the Fujiiryoki massage chair brand, for ¥6.24 billion ($57.72 mm), with the transaction set to close this month.
VFC promoted Travis Campbell to the newly created role of president, emerging brands & Americas platforms for VF Corp., and elevated Tim Bantle to general manager for VF Canada.
A Timberland employee was killed at the company’s Stratham, NH, headquarters, and a security guard, Robert Pavao, 20, of Berwick, ME, has been charged with second-degree murder.
The Journeys parent will move its corporate offices early in 2021 across town to a new location in Nashville at 535 Marriott Drive, where it will occupy about 200,000 sq. ft. of space.
The outdoor brand is suing OC Media in Los Angeles federal court, for selling apparel bearing the “Petrogonia” name and designs that mimic Patagonia’s multi-colored P-6 logo.