May 11, 2017
Net income was $857,000 against $37,312,000 last year in the final fiscal quarter ended Mar. 31 on 5% lower revenues of $578,753,000 from $612,303,000, but the organic sales decline was even worse, down 21%.
Lauren Hobart was promoted to president effective immediately, where she’ll continue to oversee marketing, e-commerce and Dick’s Team Sports HQ, and will add responsibility for Stores.
Gil Steyaert joins the executive board immediately, and will succeed Glenn Bennett as board member responsible for global operations by Oct. 1.
Revenue at Forzani Sports Group was down 1% to C$423.0 million ($319.7 million) from C$429.2 million in the first quarter as same store sales fell 2.7% against a strong 7.6% comp gain last year.
Comprehensive net income was ¥206 million ($1.9 million) in the fiscal year ended Mar. 31 against a loss of ¥209 million in the prior year on 4% higher revenues of ¥40,335 million ($370.7 million) vs. ¥38,643 million.
Asics moved to dismiss Adidas’ patent infringement suit, claiming that the 10 patents at issue are invalid because none of them are for a patent-eligible invention.
A New York District Court judge lifted the stay on a shareholder suit against former CEO Kevin Davis and former CFO Amir Rosenthal that was imposed during the Performance Sports Group bankruptcy.
National parks had 25,297,274 visitors in April, down 1% from 25,569,757 last year, while year-to-date visits rose 4% to 76,028,576.