Authentic Fitness to Take $7.2-Million Charge
Authentic Fitness Corp., a Van Nuys apparel concern, said it would take a one-time, after-tax charge of $7.2 million in its fiscal third quarter ended March 30.
The charge is to cover possible uncollected receivables owed to Authentic Fitness by Herman’s Sporting Goods Inc., which recently filed for bankruptcy protection.
Authentic Fitness sells Speedo, Catalina, Ann Cole and other brand name swimwear and active wear. It also operates a chain of retail stores.
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