February 09, 2021
A $611 million mostly non-cash inventory writedown in Q4 sent the bottom line $332,164,000 into the red, lapping a $184,986,000 profit the year before, on 3% higher revenues of $1,800,843,000 up from $1,751,005,000.
Net income jumped 80% in the final quarter to ¥16,241 million ($155.4 mm) from ¥9,034 million in 2019 on revenues that were up 22% to ¥113,866 million ($1,089.6 mm) from ¥93,707 million with double-digit gains in both bicycle and fishing segments.
Imports finished 2020 with a record high total of 22.0 million Twenty-Foot Equivalent Units, up 1.9% from 2019, according to the NRF’s PortTracker, which expects strong demand continue to push monthly import numbers higher into 2021.
KPS Capital Partners has hired Morgan Stanley to run a sale of TaylorMade Golf, according to the New York Times, which did not list any potential buyers.
Strong demand for its offering of convertible senior debt due in 2026 led PTON to increase the total offering to $875.0 million of the notes, which will pay no interest.
The Chinese shoe maker and retailer’s total sales inched down 1% in Jan. to $867,876,000 from $878,062,000, but implied manufacturing revenues expanded by 11% year-over-year to $478,745,000 from $430,607,000.
Thule Group tapped 25-year industry veteran Hilary Hartley to succeed the retiring Fred Clark as president of the Americas region, including the North and Latin American markets.
NB has won another trademark infringement judgment against its Mainland nemesis, New Barlun, who was ordered to pay RMB25 million ($3.9 million) in damages by the Shanghai Huangpu district court.
The ski resort operator is partnering with Helly Hansen as the official uniform supplier for its properties, while Icebreaker is the official base layer and sock provider, and GoPro is the exclusive action camera of Vail Resorts.