August 31, 2021
Net income at parent Designer Brands swung back to $42,860,000 after the prior year loss of $98,214,000, as sales were up 67% to $817,335,000 from $489,714,000, helped by store comps that improved 84.9%, after last year’s negative 42.7%.
The bottom line swung to a record $37,396,000 net income in the second quarter from a $30,717,000 loss last year, on 35% higher revenues of $675,531,000 up from $501,448,000.
The long-struggling brand licensor has filed for Chapter 11 protection in DE federal bankruptcy court, listing $442,774,937 of assets and $435,073,539 of liabilities.
The Big a’s former global brands chief is starting Unless, a new streetwear brand that aims to avoid fossil fuel-based textiles such as polyester, so that its products can decompose at the end of their life.
The fitness tracker company, which sells the Whoop Strap, raised $200 million at a $3.6 billion valuation in a Series F round led by SoftBank Vision Fund 2, bringing its total raise to $400 million.
Pegasus Int’l turned a profit attributable to shareholders of $68,000 in the first half, against a loss of $2,551,000 last year, on 145% higher revenues of $3,479,000 up from $1,422,000.
The Eager Beavertons amended their complaint in Cen. CA federal court against sneaker supplier, La La Land Production and Design, adding John Geiger Collection as a defendant.