April 09, 2021
Most sporting goods companies posted extremely strong results in the final quarter of 2020, handily beating a very tough comparison to Q4, 2019, and cementing a broad-based recovery from the depths of the pandemic earlier in the year.
Net income attributable to shareholders of the Italian fitness equipment company declined 57% in 2020 to €36,004,000 ($41.0 mm) from €83,205,000 on 24% lower revenues of €509,679,000 ($580.5 mm) down from €668,931,000.
The online reseller marketplace raised another round of funding, now at a $3.8 billion valuation led by existing investor Altimeter Capital along with participation from Dragoneer Investment Group.
The parent of EMS and Bob’s Stores in the U.S. and the U.K.’s Sports Direct chain warned that it could take non-cash impairments of more than £200 million ($275 mm) due to Covid-related restrictions that forced its retail stores to close.
The Eager Beavertons have reportedly settled their trademark infringement lawsuit against MSCHF Product Studio, which agreed to try to recall the 665 customized Nike Air Max 97 “Satan Shoes” already sold to customers.
The dozen universities that make up the Pac-12 athletic conference are suing Sportswear Inc., which does business as Prep Sportswear, and Vintage Brand, LLC, for selling unlicensed apparel and merchandise featuring the schools’ names and logos.