September 11, 2023
The North Face, Vans and Timberland parent lost its appeal in the U.S. Court of Appeals for the First Circuit, which upheld the Internal Revenue Service ruling that VF owed $875.7 million in tax related to the Sep. 2011 acquisition of Timby.
The league licensed headwear maker is preparing to offer its shares to the public, targeting a valuation of $4 to $5 billion, Reuters reported, citing sources familiar with the matter.
Retail import volumes at U.S. container ports were down 12% year-over-year to 1.91 million Twenty-Foot Equivalent Units, but up 4% from Jun., according the NRF and Hackett Associates’ Global Port Tracker.
YY’s manufacturing revenues fell 20%, the third consecutive month of declines, to an implied $445,994,000 contributing to an 18% decline in total revenues at the Chinese footwear maker and retailer to $639,219,000 in August.
S&P Global maintained its BB- issuer credit rating and B senior unsecured debt rating on the clogmaker and Heydude parent, which just refinanced the remaining $1.18 billion of its Heydude acquisition debt.
Volvik appointed Pete Kinney as its new president, and named John Holst VP of sales, at the Orlando, FL-based multi-layer golf ball manufacturer.
Victorinox Swiss Army filed suit in CT district court against its own authorized dealers who are selling its cutlery to unauthorized Amazon resellers.