The New York-based research group Conference Board said its Consumer Confidence Index dropped to 50.4 in June from a revised 58.1 in May. The reading was the lowest since February 1992, when it was 47.3. Economists had expected the index to decline to 56,
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699
Nike’s Q4 Profits Climb 12%
Nike Inc. reported revenues increased 16% for the fourth quarter ended May 31, to $5.1 billion from $4.4 billion a year ago. Changes in currency exchange rates increased revenue growth by 7 percentage points for the quarter. Net income increased 12% to $4
Nike Signs $46mm Deal with UConn
The University of Connecticut's trustees have approved a 10-year, $46 million contract with Nike Inc. for an exclusive sponsorship deal. Nike will provide all of the varsity teams with uniforms, apparel, footwear, practice gear and equipment with a r
Finnish Running Brand Karhu Acquired
Former Reebok executives, Huub Valkenburg and Jay Duke, have purchased the Finnish running brand, KARHU, including the trademarks and patents of the KARHU brand. Karhu Sporting Goods Oy, previous owner of the brand, remains the licensee for the Scandinavi
Report: Starter Close to Tony Romo Deal
According to Sports Business Daily, Starter, which is owned by Iconix Brand Group, is getting close to a five-year, $10 million endorsement deal with Cowboys QB Tony Romo. According to the daily, Reebok, Romo's previous sponsor, decline to match the
Collective Brand’s CFO Resigns
Collective Brands, Inc. reported that SVP and CFO Ullrich “Rick” E. Porzig announced his retirement. Porzig, 62, has served the company for more than 14 years in positions of increasing responsibility in finance functions. The company is continuing its se
New Balance Re-Organizes Sales Team
New Balance announces a re-organization of their U.S. sales management team. Steve Prince was promoted to the newly created position of director of sales operations and business development. In this role, Prince will lead the sales operations team and be
Walking Co. Opens Three Flagships
The Walking Company announced the opening of three flagship locations; a new location in Los Angeles' upscale Century City district and newly designed flagships at The Forum Shops at Caesars in Las Vegas and The Mall at Short Hills in New Jersey. The
Report: VF Corp. Closes Three Costa Rican Plants
VF Corp plans to close three factories in Costa Rica by July 16 and dismiss about 400 workers there, according to just-style.com. The announcement comes as Costa Rica is facing rising competition from nearby countries such as Guatemala and Nicaragua, whos
Sport Chalet Opens Store in L.A.
Sport Chalet, Inc. opening its new 50,500 sq. ft. store located at 11801 West Olympic Boulevard, Los Angeles, CA 90025. The company now has 52 Sport Chalet locations…
Luxottica Confirms Fiscal 2008 Outlook
Luxottica Group SpA, the owner of Oakley and Sunglass Hut, plans to confirm its fiscal 2008 guidance during a conference call with investors this week. The company previously forecast earnings of $1.29 to $1.32 per share for the full year at constant exch
Clarus Names Gray President and CEO
Clarus Transphase Scientific, Inc., developer line of Q-Link golf products, announced the promotion of Richard Gray to President and CEO. Clarus has been COO since 2001…
Clarus Names Gray President and CEO
Clarus Transphase Scientific, Inc., developer line of Q-Link golf products, announced the promotion of Richard Gray to President and CEO. Clarus has been COO since 2001…
One-Third of U.S. House Co-Sponsors Affordable Footwear Act
The Affordable Footwear Initiative announced that 145 U.S. Representatives, or one-third of the U.S. House of Representatives, and 12 U.S. Senators – have become co-sponsors of the Affordable Footwear Act since the bill's introduction less than 10 mo
Adrenalina Retains Financial Advisor
Adrenalina, the action sports store, has retained investment bank Financo, Inc, a New York investment firm, to assist to explore and pursue strategic alliances to enhance the company’s growth initiatives. Earlier this year, Adrenalina announced an aggress
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