November 10, 2020
Net income attributable to shareholders declined 15% to €546 million ($639 mm) from €646 million in the third quarter, on 7% lower revenues of €5,964 million ($6,975 mm) down from €6,410 million, which represented a decent sequential improvement from its 35% plunge in Q2.
U.S. Bankruptcy Court for the Southern District of Texas approved the two-pronged sale proposal to move J.C. Penney out of bankruptcy Monday.
Net income jumped 29% to $38,020,000 in the third quarter from $29,487,000 last year as growth from the Specialty Sports Group drove revenues 23% higher to $260,700,000 from $211,317,000.
Net income at the Japanese retailer tumbled 91% in the fiscal first half ended Sep. 30 to ¥136 million ($1.3 mm) from ¥1,469 million last year, as revenues dropped 23% to ¥90,886 million ($856.6 mm) from ¥117,505 million.
The footwear giant’s manufacturing segment continued its string of year-over-year sales declines, falling 29% last month to an implied $372,551,000 from $524,251,000.
The parent of Coleman, Contigo, Marmot and other outdoor brands has launched a tender offer to repurchase a total of up to $300 million of three series of outstanding securities, funded with cash on hand.
TLYS has established a new three-year, $65.0 million asset-backed credit facility with Wells Fargo Bank, replacing its previous $25.0 million revolver, which had no balance outstanding.
Quality Bicycle Products is recalling about 700 Salsa Cycles Cutthroat Bicycles because the bicycle’s fork legs can crack or break, posing a fall hazard.