December 01, 2017
A $182 million goodwill impairment charge for Lids sent Genesco’s bottom line deep into the red as it reported a net loss of $164,821,000 against income of $25,895,000 in the third quarter ended Oct. 28 on 1% higher sales at $716,759,000 vs. $710,822,000.
Billabong confirmed to Reuters that it has received a proposal from the privately-held parent of Quiksilver, Roxy and DC Shoes for A$198 million ($150 mm).
The Eager Beavertons are proposing a new $88 million, 11-year deal with the alma mater of co-founder Phil Knight that would be worth $2-2.5 million per year in cash with uniforms worth $5-6 million per year as well.
The principal objection of both is that the timeline from the filing to the conclusion of the auction process is too short and the bid protections given to Middleton Management of a $1.5 million initial overbid and a $500,000 breakup fee are unwarranted.
The maker of aftermarket powered vehicle packages will sell an 80% interest to FOXF for $53.4 million in cash with an option to acquire the remaining 20%.
Fired Louisville coach Rick Pitino files suit in federal court, claiming that his termination violated the terms of his contract which defined just cause.