August 11, 2023
Profit attributable to shareholders declined by 52% to $83,601,000 from $175,049,000 for the six months ended June 30 as sales fell by 12% to $4,154,968,000 from $4,709,792,000.
Descente’s net income was up 36% to ¥3,191 ($23.2 mm) in the first fiscal quarter ended June 30 from ¥2,353 million last year, as revenues were up by 3% to ¥27,162 million ($197.7 mm) against ¥26,425 million.
Yonex saw net income decline 20% to ¥2,424 million ($17.6 mm) from ¥3,025 million in fiscal Q1 ended June 30, as it recorded record 18% higher revenues of ¥27,992 million ($203.8 mm) up from ¥23,694 million, driven by strong demand across all regions.
Big Foot will bow out of Adidas’ Yeezy clearance efforts, Complex first reported, fearing a backlash from an association with Kanye West’s anti-semitic outbursts.
S&P Global upgraded the Canadian apparel maker’s issuer credit rating to BB- from B+ and the issue-level rating on its senior secured term loan to BB+ from BB, with a stable outlook.