April 12, 2017
The Latin American online sports and lifestyle retailer began trading on the NYSE under the symbol “NETS” today.
Sales increased 18% in reported terms and 15% in currency neutral terms to €1,005 million($1,065.5 mm) from €852 million for the first quarter ended Mar. 31 and EBIT leaped by 70% to €70 million ($74.2 mm) from €41.3 million, the Big Car said in announcing preliminary results.
The defeat of the repeal effort of the Affordable Care Act would have been a double win for backers of the PHIT Bill, as health care reform would have been a convenient place to attach a bi-partisan amendment like PHIT and the savings from the Republican health care bill would also have supported a large reduction in corporate taxes.
Mitchell Whitaker, who was previously VP and managing director of Vans Asia Pacific, filled the role that Doug Palladini vacated last Aug. to become Vans’ global brand president.
The company, which describes itself as the largest distributor of outdoor sporting goods in North America, said its three major banks supported its effort to get additional seasonal capital and also to fund its long-term vision for the company.