March 24, 2021
The largest Chinese sportswear company posted net income attributable to shareholders of RMB 5,162 million ($748 mm) in 2020, down 3% from RMB 5,344 million on 5% higher revenues of RMB 35,512 million ($5,146 million) against RMB 33,928 million.
Net income posted a 114% gain to $7,443,000 in the final quarter from $3,483,000 on revenues that were up 6% to $253,897,000 against $239,875,000, which included a +6.4% store comp, lapping a 3.2% increase last year.
The licensed apparel juggernaut’s latest round raised another $320 million from current investors at a valuation of $12.8 billion, up from $6.2 billion in its $350 million previous round in Aug. 2020.
In a letter to shareholders, KSS warned that the slate of five directors proposed by an activist investor group offer no new value-creating ideas for the retailer, and would disrupt its recent momentum if elected.
BSN Sports is ramping up its pace of local team dealer acquisitions after a nine-month pause last year, buying family-owned Dillard’s Sporting Goods in its fifth deal of 2021.
CODI has completed its upsized private placement of $1.0 billion of 5.250% senior unsecured notes due in 2029 and used some of the proceeds to pay down its previous revolver.
Liberty Mountain is recalling about 1,400 Beal Birdie belay devices because the hand lever can become detached from the device, leaving the user unable to lower the climber.