June 29, 2022
Net income increased 42% to HK$110,167,000 ($14.2 mm) for the fiscal year ended March 31, up from HK$70,584,000 the year before, on revenue that was 33% higher at HK$895,632,000 ($115.3 mm) over HK$674,212,000.
A group of financial institutions consisting of Lindeman Asia, Lindeman Partners Asset Management, Tor Investment Management and China Everbright Limited has acquired the textile maker out of receivership.
The Big Cat, which took over sponsorship of the Serie A club from Adidas in 2018, has extended the technical supplier partnership at a value reported to be €30 million per year.
SKX is suing Brooks Running in Los Angeles federal court, accusing the Berkshire-Hathaway-owned sneaker company of using an italicized “5” on some recent models that is “virtually indistinguishable” from Skechers’ “S” marks.
The resale marketplace is laying off another 8% of its employees, Sole Retriever first reported, citing information provided by company insiders that the cuts would impact marketing, customer service, engineering, and operations.