May 09, 2022
Net income slipped 7% in the first quarter to $5,309,000 from $5,677,000 on a 50% jump in sales to $113,276,000 from $75,331,000, benefiting from the acquisition of Rhino-Rack on July 1 and Maxtrax on Dec. 1, contributing $24.5 million and $4.2 million, respectively.
Net income slipped 64% to $9,900,000 from $27,834,000 in the fiscal second quarter ended Apr. 1 on revenues that fell 8% to $189,623,000 from $206,156,000 pulled down by tumbling fishing sales.
The Sports & Fitness Industry Association was one of more than 200 organizations signing off on Americans for Free Trade’s letter to Senate leaders pushing for renewal of the Miscellaneous Tariff Bill, reauthorization of the Generalized System of Preferences, and return of exemptions to Section 301 tariffs through the trade bills currently being sorted out in conference committee.
Net loss more than doubled in the first quarter to $73,533,000 from $30,058,000, on 12% lower revenues of $198,922,000 down from $226,219,000, despite the addition of Myx connected fitness bike sales this year.
Retail cargo imports set another new record in Mar., inching up 3% from last year and 11% sequentially from Feb., to 2.34 million twenty-foot equivalent units, according to the NRF and Hackett Associates.
Anta-controlled Amer Sports has completed the divestiture of its wearables brand to Chinese consumer electronics company, Liesheng.
The licensing company will pay $28 million in total consideration for the global rights across all product categories for the Pony brand, excluding China and Taiwan.
DSW’s parent company has acquired the Shoes.com domain for undisclosed terms, Footwear News first reported, but the deal did not include any related business assets.
Charlottesville, VA-based Har-Tru, which sells tennis court surfaces and accessories, acquired Lobster Sports, Inc., the supplier of portable pickleball and tennis ball launchers, for undisclosed terms.
After a NY federal court judge denied the fashion brand’s motion for dismissal last month, Thom Browne has answered Adidas’ infringement suit with a counterclaim challenging the validity of a Three Stripes trademark.