February 25, 2021 Wolverine World Wide Sees Brighter Future after Big Loss
A $222.2 million non-cash impairment charge to write down the Sperry brand contributed to a net loss of $171.2 million in the fourth quarter ended Jan. 2, against a loss of $0.5 million last year, on 16% lower revenues of $509.6 million down from $607.4 million. Acushnet Grows Double Digits in Q4
Net income grew 21% in the fourth quarter to $21,600,000 from $17,859,000 on 14% higher sales of $420,494,000 up from $368,271,000 driven by improvements in all categories and geographies. Activewear Recovers in Gildan’s Final Quarter
Net income more than doubled to $67,352,000 from $32,512,000 for the fourth quarter on revenues up 5% to $690,155,000 from $658,673,000 that included an 11% improvement in activewear sales to $537.9 million. Fox Factory Sees Bike Products Sales Soar in 2020
Net income was up 41% in Q4 to $31,796,000 from $22,522,000 on sales that also gained 41% to $262,391,000 from $185,881,000, driven by a 45% jump in specialty sports group bike products and a 39% increase in powered vehicles group sales. Puma Sued for Trademark Infringement by USOPC
The Big Cat was turned down by the U.S. Patent and Trademark Office when it tried to register the trademark “Puma Tokyo 2021” last year, and now the U.S Olympic and Paralympic Committee is suing Puma in CO federal court. Belk Zooms Through Pre-Packaged Bankruptcy
The department store’s Ch. 11 filing in the Southern District of TX proceeded according to the carefully crafted plan worked out between controlling shareholder Sycamore Partners and debt holders KKR and Blackstone. Nike Sees Setback in Cool Compression Suit
Nike’s bid to have Lontex Corp.’s trademark infringement lawsuit dismissed was rebuffed by a Philadelphia federal court judge, who ruled that the case can proceed to trial. NRF Forecasts Huge Retail Growth in 2021
The National Retail Federation is forecasting 2021 retail sales will grow between 6.5% and 8.2% to more than $4.33 trillion, gathering momentum as more consumers get vaccinated against Covid-19. Big 5 Sporting Goods Inks New Loan Agreement
BGFV has entered into a new loan agreement with Bank of America for a $150 million secured revolving credit facility that expires in Feb. 2026. Etcetera: OrderMyGear, MidwayUSA, Stio, Speedo, Felt, Burghardt SG, Saint Bernard, REI
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