March 31, 2021
The bottom line tripled in the final quarter to $29,567,000 against $9,683,000 capping off a very profitable year, on revenues that jumped 70% to $438,195,000 from $258,152,000 including a 57.7% increase in same store sales.
Net loss narrowed in the final quarter to $14,144,000 from a loss of $93,029,000 prior, on licensing revenues that fell 22% to $33,888,000 from $43,178,000, as both periods were hit by trademark impairment charges.
Brazil’s largest sporting goods retailer and Nike’s distributor there returned to the black in Q4, though the bottom line still fell 91% to BRL 14,593,000 ($2,830,800) against BRL 163,628,000 on revenue growth of 31% to BRL 1,398,503,000 ($271,291,000) over BRL 1,065,689,000.
The connected strength training platform has raised $250 million at a $1.6 billion valuation in a Series E round led by Dragoneer Investment Group with participation from Cobalt Capital.
VFC added the role of president of its outdoor brand, Napapijri to Massimo Ferrucci’s current responsibilities as GM of Emerging Markets.
PTON was awarded $4,299,163.56, plus interest, for the attorney’s fees, costs, and expenses it incurred fending off a patent infringement suit brought in 2016 by plaintiff VR Optics.