March 30, 2021
Net income increased by 11% in the final quarter to $329,837,000 from $298,021,000 on 24% top line growth to $1,729,550,000 from $1,397,491,000 including a +21% blended comp consisting of a 94% surge in DTC e-commerce that more than offset a 28% decline in stores.
Net income grew five-fold in the final quarter to $91,522,000 from $17,738,000 on 17% higher revenues of $1,597,436,000 up from $1,370,492,000 that included a +16.1% comp and double-digit growth in all merchandise divisions.
Net loss attributable to shareholders was HK$216,328,000 ($27.9 mm) in the second half against income of HK$71,705,000 ($9.3 mm) on 9% lower revenues of HK$352,159,000 ($45.4 mm) from HK$388,944,000 ($50.2 mm).
The Eager Beavertons are suing MSCHF Product Studio in E. NY federal court for selling altered Air Max 97 shoes that have satanic themed detailing, embroidery and a drop of human blood.
The scion of the founding Shimano family, who has risen through executive roles of increasing responsibility at the bike component and fishing tackle maker, was elevated as the company’s sixth president.