March 25, 2020
Net income in the final quarter ended Feb. 1 jumped 156% to $3,483,000 from $1,359,000 on 2% higher revenues of $239,875,000 up from $234,658,000 that included a 3.2% gain in comp store sales at the family footwear chain.
While Congress was passing a $2 trillion stimulus bill, rumors that the Administration is considering a 90-day suspension of all tariffs were strongly denied by top trade officials.
One of the longest serving senior execs, chief product officer Eskridge joined Under Dog in 2009 and ascended to that position just before Patrik Frisk came on as COO in 2017.
Adding the Skins trademark to its Pony and Arena brands, the Hong Kong group hopes to return to growth in 2020 in its branded business, which saw licensing revenue last year decline to HKD 17.9 million ($2.1 mm) from HKD 27.8 million.
Modell’s creditor Remo Tartaglia Associates and other landlords filed objections to the bankrupt retailer’s plan to “mothball” stores and inventory until the coronavirus pandemic abates and GOB sales can resume.
The Eager Beavertons are issuing $1 billion of commercial paper to bolster their paltry $3.2 billion cash position as they gird up to weather the Covid-19 downturn.
HanesBrands drew down $630 million from its U.S. revolving credit facility giving it about $1 billion of cash on hand.