The Finish Line, Inc., while embroiled in a dispute with Genesco, Inc. over its planned acquisition of the GCO business, may have hinted at some non-financial reasons why the deal may not make as much sense as it first did when announced this past spring.
Author: Teresa Hartford
Teresa Hartford
Editorial & Creative Director | SGB Media
teresa@sgbonline.com | 704.651.5741
Yue Yuen’s Q3 Profit Down 3.7%
Yue Yuen Industrial showed a 3.7% decline in net profits in the third quarter ended June 30, to $119.3 million from $123.9 million a year earlier. A booming business in China is being offset by weakness in North America and Europe. Sales in the period ga
The Finish Line Counter-Sues Genesco…
Late Friday, The Finish Line, Inc. announced it had filed an answer, counterclaim, and third-party claim for declaratory judgment in connection with the suit filed the prior week by Genesco, Inc. to force FINL and its financing partner, UBS, to consummate
Timberland to Close Most U.S. Specialty Doors…
After completing a “global retail portfolio review,” Timberland has decided to close approximately 40 of its larger, specialty retail stores in the U.S., Europe and Asia. TBL management said that this is part of a strategy to “redirect investment to highe
JJB Sports Sees Tough First Half on Tough Comps…
In the first half ended July 29, JJB Sports revenue dropped 4.3% to £365.3m ($738.2 mm) with comps down 4.4%. The decline largely reflected tough year-ago comparisons, which was boosted by the 2006 World Cup. While total retail revenue was down 6.2% in th
Mall Promotions Take Toll on Q2 Retail Results…
The weak mall environment that dominated sporting goods retail in the first quarter persisted through the second as retailers in turn looked to generate sales and lower inventories through promotions and clearances. In addition, the shifting calendar that
TJX Settles Lawsuits…
TJX Cos. has agreed to settle a series of class-action lawsuits stemming from a massive security breach of customer data in 2005 affecting at least 45 million credit and debit cards. The retailer estimates that the settlements will bring its total losses
Forzani Sees BTS Comp Gain…
The Forzani Group Ltd. reported improved sales and flat margins for the fiscal 2008 “Back to School” selling season. Retail system sales for the seven-week period ended September 16, 2007 increased 4.9% over the same period last year. Overall same store s
Callaway and Nike Go to Court…
Callaway Golf Co. filed suit in Portland early last week accusing Nike and former Callaway executive Robert Arluna of “misappropriating trade secrets,” in violation of Oregon law. The judge presiding over the case temporarily prevented Arluna from startin
Vendors and Retailers Provide a Look-Ahead in Latest Round of Conferences…
At the recent Thomas Weisel Consumer Conference in New York City and the Piper Jaffray Consumer Conference in London, several industry companies offered their views on the global market today and the strategies they hope will position them well for the fu
Outdoor Brands Outline Growth Strategies at the Latest Investor Conferences…
At the recent Thomas Weisel Consumer Conference and the Piper Jaffray Consumer Conference in London, several outdoor brands offered their views of the global market today and the strategies they will use to grow going forward. In London, Deckers, Under Ar
Shareholder Asks Orange 21 to Sell Company…
Thesis Capital has sent a letter to Orange 21 asking management to explore a sale of the company. The letter states that Thesis Capital, as an owner of Orange 21, has “yet to receive a strategic plan for the business.” In the absence of such a plan, the c
Organic Cotton Production on the Rise…
The latest figures from the Organic Exchange show that the amount of organic cotton produced globally increased 53% from 2005/06 to 2006/07. Current production rates are at 57,931 metric tons, or 265,517 bales, of cotton. The Organic Exchange says that vo
Vail Expects Strong 2008 on Early Pre Bookings…
Vail resorts finished off their fiscal 2007 with significant improvements to their full-year top and bottom lines in spite of a double-digit decline in Q4 revenues and an increase in the company’s seasonal fourth quarter net loss. Total revenue for the qu
Fuji Parent to Acquire Kestrel…
Advanced Sports, Inc., the owner the SE and Fuji Bikes brands, has reached an agreement to purchase Kestrel Bicycles. Under the agreement, ASI has acquired the rights to the Kestrel brand, trademarks and intellectual property, along with its marketing ass
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