May 01, 2018
Still digging out from its inventory issues left over from 2017, Under Armour reported a net loss of $30,244,000 this year against a loss of $2,272,000 prior for the first quarter ended Mar. 31 as sales improved 6% to $1,185,370,000 from $1,119,844,000.
The net loss in Q4 ended Mar. 31 was $15,922,000 against income of $857,000 as sales dipped 1% to $571,227,000 from $578,753,000, bringing to a close a year in which it lost $60,232,000 compared to a prior year loss of $274,454,000 that included impairment charges of $152.4 million on sales of $2,308,463,000 vs. $2,546,892,000.
With Sturm, Ruger’s annual meeting coming on May 9, RGR shareholder Amalgamated Bank sent a letter to the gun maker demanding that it publicly commit to the Everytown Actions, a list of policy positions created by Michael Bloomberg’s Everytown for Gun Safety organization.
Citing tough comps of favorable winter weather last year against poor conditions in 2018, Big 5 had a net loss of $1,309,000 in Q1 ended Apr. 1 against income of $5,326,000 on sales that fell 7% to $234,178,000 from $252,604,000 with comps falling 7.5% this year against a 7.9% increase last year.
U.S. Activewear segment sales increased 6% to $346,125,000 from $327,343,000 in the first quarter, driven by Champion sales that increased 22% (+17% constant currency) with high-single-digit growth in the U.S. and strong double-digit growth in Asia and Europe.
The lion’s share of Newell’s problem is that the cost savings and synergies promised from the Jarden acquisition never happened, Starbard said in a presentation to the Newell board that calls for cost reductions to increase EBITDA by $585-966 million.
The maker of Stabil traction products will be integrated with Implus’ existing traction brands Yaktrak and ICEtrekkers and is the 18th brand in the Berkshire Partners-owned company’s portfolio.