January 31, 2019
Net income more than doubled in its most important quarter to $194,027,000 from $90,887,000 last year that included a $63 million one-time deferred tax asset charge, as revenues surged 8% to $873,800,000 from $810,478,000.
With Vans continuing to show strong momentum, The North Face ready to accelerate and Timberland ready to turn the corner, VF Corp. told analysts that it was confident in its ability to hit its financial targets and gradually grow margins.
Brunswick’s fitness segment, which includes Life Fitness, Cybex, Indoor Cycling Group, SciFit and Hammer Strength, reported fourth quarter 2018 net sales of $287.7 million, a 6% decrease from $304.8 million in fourth quarter 2017.
The ongoing dispute between the two outdoor apparel companies escalated with COLM accusing Seirus Innovative Accessories of funneling payments to Korean fabric supplier Ventex Co. and others to challenge its Omni-Heat patents.
In an unusual-for-Japan hostile takeover bid, Itochu made an unsolicited partial tender offer for another 9.56% of Descente stock, which would increase its holdings in the company from 30.44% to 40.00%.
As expected, the former Oklahoma State assistant basketball coach pleaded guilty in New York federal court to conspiring to commit bribery, in a deal reached with prosecutors.
The Big Cat is offering its Fit Intelligence micromotor-powered lacing system as a rival to Nike’s HyperAdapt, with the first FI training shoe set to launch in 2020.
WWW is the latest outdoor brand to support the philanthropic arm of Outdoor Industry Association’s Thrive Outside program, designed to increase youth outdoor participation.