August 16, 2022
A CHF 32 million foreign exchange benefit helped On Holding’s bottom line in the second quarter more than triple to CHF 49,148,000 ($51.0 mm) from CHF 14,210,000, as sales increased 67% to CHF 291,662,000 ($302.6 mm) from CHF 175,062,000.
Net loss widened to €52.5 million ($55.9 mm) in its fiscal third quarter ended June 30, from €12.9 million, as shrinking margins met with accounting charges related to the reverse SPAC merger, on revenue of €324.2 million ($345.3 mm), up 29% from €250.9 million.
Net income more than doubled to ¥2,353 million ($18.1 mm) in the first fiscal quarter ended June 30 from ¥1,133 million last year, as revenues grew by 18% to ¥26,425 million ($203.7 mm) against ¥22,481 million.
The Reebok owner has made a deal to acquire U.K. fashion brand Ted Baker for about £211 million ($254 mm), after the company was forced to put itself up for sale due to the pandemic.
The Ninth U.S. Circuit Court of Appeals upheld a Cen. CA district court ruling that consumers are unlikely to confuse LULU’s Align apparel with apparel sold by Aliign Activation Wear.
DECK is suing five companies in Cen. CA district court in two largely similar actions that accuse them of knocking off its UGG-brand Oh Yeah trade dress with various sandal models.