July 15, 2021
Net income in the final fiscal quarter ended Apr. 30 was $1,248,000 against a $90,675,000 loss that included a $98.9 million goodwill impairment charge triggered by the Covid breakout last year, as revenues jumped 50% to $64,473,000 from $43,084,000.
Despite conflicting conclusions on Vietnam’s currency practices by two federal agencies, the Biden Administration is rumored to be weighing imposing tariffs on imports from Vietnam, possibly as early as the end of this month.
Changshin Vietnam became the second major Nike supplier to shutter its doors over the Ho Chi Minh City Covid-19 outbreak when it ceased operations Thursday.
Delta Apparel released its preliminary fiscal Q3 results Thursday, expecting a top line of $118 million for the quarter ended July 3, a 65% gain over the prior year and are roughly flat to the 2019 period.
The women’s athletic apparel brand, backed by Kate Hudson, is aiming to raise about $500 million in an initial public offering that values the company at over $5 billion, the Wall Street Journal reported.
Clarus Corp.’s Black Diamond Equipment promoted two long-time employees to senior roles, elevating Kolin Powick to VP of product and Bill Ayers to VP of finance.
Smith Sport Optics and Koroyd SARL are suing Burton in UT federal court, claiming that the WaveCel shock absorbing material it uses in some helmets infringes on their jointly owned US Patent No.10,736,373.
Academy Sports is recalling about 3,860 Ozone 500 girls’ and boys’ Elevate 24-inch bicycles because the rear shock spring can become stuck, creating a pinch point between the spring and the seat.