May 13, 2020
With the recent announcement that it had passed 1 million subscribers, Peloton shares continued to move closer to the sun at $46 which puts the company valuation at $12.5 billion and represents an increase of 40% since the beginning of the month and 50% since the beginning of the year.
Net loss was $21,483,000 in the first quarter that included a $13.7 million impairment charge for the Rampage, Joe Boxer, Waverly, Fieldcrest and Umbro trademarks against income of $17,945,000 last year that benefitted from a $19.9 million fair value adjustment on ICON’s convertible notes.
UA and JPMorgan Chase amended the company’s credit agreement to suspend its interest coverage covenant through 2021, and reduce the debt to EBITDA ratio required under its leverage covenant.
Caleres has begun a phased reopening of its Famous Footwear and brand portfolio retail stores in areas where restrictions on non-essential retail have been lifted, and it expects to have 435 locations open by the end of May.
The trustee for the bankrupt Army and Navy chain is seeking to claw back preferential payments made to vendors within 90 days of the filing.
Giannis Antetokounmpo filed six broadly similar lawsuits in NY federal court, accusing the defendants of infringing on his Greek Freak trademark.