Andrew Group Today Reiterates Its Performance Expectations For The 2016 Fiscal Year.
In the long term customers of the United States
Sports goods
The retailer The Sports Authority Inc. announced on Wednesday that it filed for bankruptcy protection, the country's second largest sporting goods manufacturer Under Armour Inc.
Andrea
The group reiterated its performance expectations for the 2016 fiscal year today.
According to the current situation, Under Armour Inc. and Inc. have maintained a year-on-year growth of 25% to $4 billion 950 million over the 2015 fiscal year and 23% to 503 million US dollars in operating profit.
These forecasts were put forward by the group in the fourth quarter of fiscal year 2015 and the annual financial report in late January.
As for bankruptcy, The Sports Authority Inc. has 463 stores in the United States due to its failure.
Electronic Commerce
Competition and poor operation accumulated debts to $1 billion 100 million.
The company announced its bankruptcy two days ago and immediately launched a clearance sale in 200 of its stores.
Unless there are buyers, the group will close 140 stores and 2 logistics centers during the bankruptcy reorganization process.
In today's document, Under Armour Inc. Andrea group said it would help during the restructuring period of The Sports Authority Inc.. In order to offset the impact of the latter bankruptcy on its performance, the group will continue to sell products to The Sports Authority Inc., and will also increase sales to other channels and customers.
The Group believes that the bankruptcy of The Sports Authority Inc. will not have a substantial impact on its accounts receivable.
The bankruptcy documents of The Sports Authority Inc. show that it is in arrears with the Under Armour Inc. 23 million Authority, while delinquent the Nike Inc. Nike group for $48 million.
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