39 Percent
Drop in third-quarter sales for GoPro only furthering the negative earnings that have hit the action sports camera brand for the past year. During the first half of 2016, sales were sliced in half, while production issues for its hardware have delayed inventory, including a recall of 2,500 of its Karma drones.
$575 Million
The current stalking-horse bid being offered by Sagard Capital Partners L.P. and its partner Fairfax Financial Holdings Limited for the purchase of Performance Sports Group Ltd out of bankruptcy. The deadline to submit qualified bids was extended from January 4 to January 25, 2017, with the auction set for January 30, 2017. Meanwhile the initial bidding requirement was reduced from $582.5 million to $580 million and subsequent bids must now be at least $1 million higher, versus $2.5 million increments beforehand.
42 Years
Since Frank Van Wezel founded Hi-Tec Sports International Holdings B.V. On November 28, Cherokee Global Brands offered a deal of roughly $98.5 million to purchase Hi-Tec, which would include selling off the outdoor footwear brand’s wholesale operations to licensed partners. Cherokee expects to make $62 million from the license proceeds to help pay for the acquisition. Hi-Tec would join the parent company’s other active lifestyle brands, including Tony Hawk, Sideout and Everyday California.
$3.34 Billion
In online Black Friday 2016 sales, setting a new record for the shopping holiday, according to a report from digital services firm Adobe. It was a 21.6-percent jump from year-ago sales, widely surpassing the projected $3 billion. At the same time, Thanksgiving Day online sales came in at $1.93 billion, slightly below Adobe’s pre-holiday prediction of $2 billion, but still ahead 11.5 percent from a year ago. Cyber Monday still ruled as the single-biggest online shopping day, however, coming in at $3.39 billion, according to Adobe, up 10.2 percent from a year ago and ahead of expectations.
1.1 Million New Members
Were added to Shoe Carnival’s Shoe Perks loyalty program, bringing membership to more than 12 million. Members spent an average of 21 percent more per transaction than non-members and accounted for 67 percent of net sales during the third quarter of 2016. However, these numbers were not able to offset a sharp double-digit slide in boot sales, which as a result led the company to lower full-year guidance.
