U.S. households are expected to spend an average of $418 on gifts during the holiday season, down from last year’s estimate of $471, The Conference Board reported Friday. “This is shaping up to be one of the most challenging holiday seasons in years and i
Author: Charlie Lunan
Holiday Gift Card Sales Expected to Decline
Shoppers’ price-conscious mentality is taking a toll on the season’s most-requested present: gift cards. The National Retail Federation's sixth annual Gift Card Survey found that gift card sales will fall nearly 6% this holiday season to $24.9 billio
Hibbett Raise Earnings Outlook on 8.1% Sales Increase
Hibbett Sports Inc. raised its earnings outlook for the fiscal year ended Jan. 31, 2009 saying its IT investments were helping it better manage inventory and boost comp store sales despite economic headwinds. The company said net sales rose 8.1% on a 0.4%
Accell Group Ups Profit Guidance on Strong e-Bike sales
Accell Group upped its guidance for growth in net profit for 2008 to 15% from 10%, citing rising sales of high-end and electric bikes. The Dutch bicycle and fitness equipment maker said this summer's high fuel prices, Europe's aging population a
48STRAIGHT Cancels Season as Jeep Pulls Out
Chrysler subsidiary Jeep has pulled out as title sponsor of the 48STRAIGHT winter event series, forcing organizers to cancel the snowsport series on the eve of its third season. Event organizers have already canceled events at ski resorts in…
Half-Moon Celebrates Last Grand Opening of 2008
Half-Moon Outfitters celebrates the grand opening of the last of three new stores it opened this year at its newest location in Charleston, SC today, Nov. 19…
Bikes Belong Appoints Three New Officers
Bikes Belong Coalition elected three new officers to its board from Raleigh America, Saris Cycling Group and SRAM Corporation. The three join the non-profit as it works to maximize federal funding for bicycling. The group's budget has doubled over th
Intrawest Confirms Lay Offs
Ski resort operator Intrawest is laying off an undisclosed number of employees at its resorts amid reports of a big drop in advance bookings at destination ski resorts across North America. The news follows Intrawest's eleventh-hour refinancing of a
Timberland Apparel to Grow to 100 New Doors in ’09
Philip Van Heusen will continue to invest in its Timberland apparel business next year even as it halts expansion of its mall-based Calvin Klein stores to cut capital spending by half. The company expects to expand Timberland distribution to about 100 new
CPSC: New Phthalates Limits Aren’t Retroactive
The Consumer Product Safety Commission has ruled that an impending ban on certain products containing phthalates will only affect those made after Feb. 10, 2009. The ruling eliminates a major headache for sporting goods suppliers and retailers, who until
NSGA: Most Sporting Goods Retailers Improving Performance
Almost all specialty retailers, from small to large, improved key measures of profitability and productivity versus two years ago, according to data in the newly released NSGA Cost of Doing Business Survey. Almost 150 specialty retailers participated in t
Boaters and Anglers Invited to Surf New Site
The Recreational Boating & Fishing Foundation (RBFF) launched a new social networking site for boating and fishing enthusiasts called “Fishington” – The Fishing & Boating Capital of the Internet. The site allows boaters and anglers nationwide to connect w
Element 21 Sales Grow Four Fold in Q1
Element 21 Golf Company reported revenues more than quadrupled to a record $555,256 for the first quarter ended Sept. 30, 2008 as golf and fishing equipment makers continued to adopt its scandium alloy products…
Li and Fung Braces for Layoffs as Slowdown Hits China
Li & Fung Ltd has frozen hiring in most locations, reduced travel and other discretionary expenses and anticipates laying off some staff after completing a “critical review of its cost structure…”
Patagonia Opens First Store in Texas
Patagonia has opened its 25th retail store and its first location in Texas. The new 7,000-square-foot Patagonia store is located in a historic building that began life as the W.B. Smith dry goods store in 1884, four years before the state capitol down the
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