February 21, 2020
CEO Mitch Modell said that the 130-year-old, family-owned chain is looking to sell a minority stake in the company, and that all options are on the table, in an interview on Fox Business.
A U.S. district court approved WWW’s settlement with the state of Michigan and local authorities to remediate drinking water contamination from PFAS chemicals used in a since-closed tannery and other company-owned facilities there.
Net income dropped 28% in the fourth quarter to $2,575,000 from $3,580,000 and revenues declined 8% to $47,044,000 against $50,992,000 on softness in the archery and fitness categories, but outdoor games, pickleball and basketball improved.
Lululemon said the majority of its 38 stores have been closed since Feb. 3 with some now operating on a reduced schedule.
The two companies’ settlement of their patent infringement battle requires Flywheel to stop offering its At Home online classes on Mar. 27, and Peloton is seeking to capture those users with a trade-in offer.