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February 26, 2021


Foot Locker Sales, Net Drop in Holiday Quarter

Big Foot’s final quarter gave notice that the end of the pandemic may have been greatly exaggerated, as net income slipped 8% in the final quarter to $123 million from $134 million on revenues that inched down to $2,189 million from $2,221 million including a -2.7% comp.

Fanatics Launches China JV

Fanatics China will be a 50-50 joint venture with Asian PE fund Hillhouse Capital, based in Shanghai, and a source close to the deal told CNBC the new business is expected to do over $1 billion in revenues.

REI Offers Credit Instead of Dividend

The outdoor co-op did not make a profit last year, according to a letter to members posted on its website, and so will not pay its customary annual dividend, instead offering members an equivalent store credit amounting to 10% of 2020 full-price purchases.

Wolverine World Wide Scores S&P Upgrade

After paying down its $171 million, 364-day pandemic term loan, WWW sees Standard & Poor’s upgrade its outlook to stable and affirm its BB issuer credit rating.

Etcetera: Adidas

 
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