March 22, 2023
After a scintillating first half, tougher comparisons and rising costs in H2 resulted in just a 1% rise in net income to RMB 921,694,000 ($136.8 mm) from RMB 908,339,000, despite 29% higher revenues at RMB 12,930,385,000 ($1,919.3 mm) up from RMB 10,013,239,000.
Net income in the final quarter was up 5% to $21,610,000 from $20,591,000 on a 7% sales decline to $290,779,000 down from $313,371,000, even including an incremental $24.3 million. contribution from Shoe Station.
The Kathmandu, Rip Curl, and Oboz parent swung to a NZ$13,159,000 ($7.9 mm) profit after last year’s loss of NZ$5,541,000 in the fiscal first half ended Jan. 31, on revenues that were up 35% to an H1 record NZ$547,924,000 ($330.1 mm) over NZX$407,304,000.
Net income came in even better than the Chinese company’s raised guidance, increasing 53% in 2022 to HK$195,390,000 ($24.9 mm) from HK$128,076,000, as revenues grew by 17% to HK$1,874,424,000 ($239.0 mm) from HK$1,600,255,000.
The employee-owned Old Fort, NC-based cycling apparel brand announced that the company will cease operations in about three weeks after failing to raise enough capital during a financing round.
Gart Capital Partners, the investment vehicle for the family that founded Gart Brothers sporting goods in 1928, has invested an undisclosed amount in the outdoor sustainable brand.
Resale platform 1661, Inc. (dba Goat) is suing Green Goat, Mario Tovar, and Eric Gates in CA Central District Court for infringing on its “Goat” trademark.