June 10, 2022
Revenue gains continued in the first quarter of 2022 at a solid, 7% pace to $47,051.7 million from $44,117.4 million, but rising costs in all sectors sent the aggregate bottom line down 28% to $3,323.0 million from $4,636.9 million at the basket of industry companies we track.
The €1.56 billion ($1.64 bb) acquisition by a consortium led by affiliates of Kohlberg Kravis Roberts & Co. is a go, despite not quite reaching the 80% acceptance threshold.
May revenues for Yue Yuen increased 3% to $757,993,000 from $736,960,000, but the gains came entirely from the footwear manufacturing business as Pou Sheng retail sales in China tumbled 19% in local currency to RMB 1,527,574,000 ($227.7 mm).
The owner of the Aqualung, Apeks, Omer and Aquasphere brands named Bruno Cercley, former chairman of the Rossignol Group, as chairman of its supervisory board.
Warrior Sports is suing Wilson Sporting Goods in MI district court accusing the Amer Sports-owned company of infringing on the “EVO” mark.