March 06, 2020
The venerable sporting goods chain, which had been trying to restructure itself in recent weeks, told its associates and vendors that a bankruptcy filing will be made either Sunday or early next week.
Double-digit declines in apparel and equipment imports and a small dip in footwear imports sent total industry imports down 7.6% in the final quarter of 2019 to $4,969.0 million from $5,380.0 million in Q4 ’18, and overall imports for the year ended up with just a 0.1% gain to $21,299.4 million from $21,271.2 million.
The bike maker’s net income was just €2.8 million ($3.1 mm) in 2019, down from €20.3 million, but without the divested North American business, net income from continuing operations was up 52% to €59.3 million ($66.4 mm) from €39.0 million as revenues improved 8% to €1,111.0 million ($1,244.1 mm) from €1,033.3 million.
The Warriors forward will become the face of the Nike-owned brand in a multi-year deal set to commence now that his current contract to wear the Swoosh has expired, ESPN reported.
The Big a reported that an employee at its Herzogenaurach headquarters that tested positive for the COVID-19 virus earlier this week has been sent home for a 14-day quarantine, as have others who came into contact with the person.