August 16, 2021
After a brief pause last year, when the pandemic hit profits and held sales nearly flat in the first half of 2020, Li Ning roared back with net income up 187% to RMB 1,962,223,000 ($303.8 mm) from RMB 683,271,000 and sales increased 65% to RMB 10,196,584,000 ($1,578.4 mm) against RMB 6,180,935,000.
Consolidated net profit nearly tripled in the second quarter to KRW 135,749 million ($121.1 mm) from KRW 45,520 million last year on 63% higher revenues for the group of KRW 1,019,354 million ($909.0 mm) up from KRW 625,011 million.
The Eager Beavertons spoke with its top 15 institutional shareholders, and about a third of total Class B shareholders over a marked drop in support for its executive compensation policies, last week’s annual proxy statement filing revealed.
The Brazilian retailer and distributor’s new Fisia entity, handling the Nike brand there, accounted for 47% of total sales with BRL 728,432,000 ($137.5 million) in revenue.
Plaintiffs Brannon Skillern and Ryan Corken claim that Peloton added sales tax to monthly membership subscription charges, even in states where it was not owed, in a suit filed in S. NY federal court.
New Balance filed the suit in MA federal court, accusing the designer brand of using its trademarked stylized N logo on several athletic inspired footwear models.
The VF Corp.-owned pack and accessories brand is suing Bravo Wholesale in DE federal court, accusing it of misrepresenting closeout and liquidation products as new.