August 11, 2017 Acushnet Posts Income Gains but Sales Struggle
Net income increased 22% to $33,016,000 from $27,055,000 in the second quarter, benefitting from lower spending and interest expense, but sales slipped 8% to $427,988,000 from $463,261,000 in a key selling season. Payless Exits Bankuptcy, Seeks New CEO
After closing 900 stores and shedding $435 million in debt, the retailer emerged from Chapter 11 proceedings on Aug. 10 with a 3,500 store footprint. Rapha Acquired by Wal-Mart Heirs
The high-end cycling brand was bought by Steuart and Tom Walton’s fund RXC Investments from management and PE firm Active Partners for an undisclosed price.
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