June 23, 2022 Smith & Wesson Results Slip, but Supremes Ruling Lifts Shares
Net income dropped 59% in the final fiscal quarter ended Apr. 30 to $36,135,000 from $89,035,000 as revenues declined 44% to $181,299,000 from $322,947,000 on slowing consumer demand for firearms that sent unit sales down about 50%. Infinited Fibers Planning New Infinna Factory
The supplier of recycled textile fiber to Patagonia, Inditex, PVH, and other apparel companies will invest €400 million to convert a former paper mill in Finnish Lapland to a new Infinna production facility. Michael Rubin Selling Sixers, Devils Stake
The Fanatics CEO will sell his 10% share of Harris Blitzer Sports and Entertainment, which owns the Philadelphia 76ers and the New Jersey Devils, clearing the way for the licensing juggernaut’s entry into sports betting.
The Eager Beavertons are throwing in the towel on Russian operations, and will fully withdraw from the country, according to a report from Reuters. Xinjiang Import Ban Goes Into Effect
The Uyghur Forced Labor Prevention Act that prohibits the importation of products made by forced labor in Xinjiang, China, is now in force, under the oversight of U.S. Customs and Border Protection, which released guidelines for importers just last week. R & R Motorsports Sues Bass Pro, Textron
R & R Motorsports and its owner Robert Ross filed suit against Textron, the all-terrain vehicle maker, and Bass Pro Shops in LA district court, alleging the two companies conspired to hold back inventory in order to drive him out of business. Deckers Sues Tommy Hilfiger over Fluff Yeah Knockoffs
Deckers filed suit in Cen. CA district court against Tommy Hilfiger and its parent company PVH Corp. for copying its Ugg Fluff Yeah design and infringing on its trade dress with its Laydown slippers.
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