March 13, 2017
While it has been looking for a buyer and had a number of discussions with strategic and financial buyers, the chain does not have an offer on the table acceptable to it that would serve as the stalking horse bid for the prospective bankruptcy auction that seeks to sell the bulk of the chain as a going concern.
Net income more that doubled to $6,304,000 from $2,884,000 at the teen retailer in the final quarter ended Jan. 30, benefitting from a lower tax rate and SG&A savings as sales inched up 1% to $160,215,000 from $159,086,000.
Aprisindo believes that President Trump’s get tough on China policies and its exit from the Trans-Pacific Partnership will help Indonesian sneaker factories gain market share at the expense of the Chinese.
Clay Dean, a 20-year General Motors veteran, joins Under Dog in the newly created position, where he’ll drive its global vision and strategy for innovation.
Total revenue increased 3.8% to $584,947,000 from $563,376,000 for the month of February, but at the Pou Sheng retail subsidiary sales tumbled 13.5% to $164,384,000 from $189,950,000 after posting a solid gain in Jan.