Category: Sports/Fitness

Nike to Lay Off Up to 4% of Employees

February 10, 2009 SGB Update

Nike Inc. plans to eliminate up to four percent of its nearly 35,000 people worldwide workforce as part of a restructuring and cost-cutting initiative. The company called it the “next stage of its category business model execution, which includes the rest

Wall Street Shrugs Off Tough January Retail

February 9, 2009 SGB Update

The retail results for January and the retail fourth quarter apparently lived up to low expectations as Wall Street shrugged off both the negative comp store sales results and the loss of more than 625,000 jobs during the month…

Oil, Gas Leases in Utah Cancelled

February 9, 2009 SGB Update

U.S. Secretary of Interior Ken Salazar said that the department is canceling 77 oil and gas leases in Utah issued in the final days of the Bush Administration. The decision means that more than 100,000 acres of Utah wild lands and recreation destinations

Costco Comps Slip 2% in January

February 5, 2009 SGB Update

Costco Wholesale Corporation reported net sales of $5.10 billion for the month of January, down 0.2% from $5.11 billion for the same period last year. Comparable store sales for the month declined 2.0% after an increase of 7.0% last year. For the first tw

Neiman Marcus January Comps Drop 25.8%

February 5, 2009 SGB Update

In the four-week January period, comparable revenues in Neiman Marcus' Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, decreased 25.8%. The company experienced weakness across all geographies and merchandise

Dick’s SG Comps Fall 8.6%; Will Take Impairment Charge

February 5, 2009 SGB Update

Dick's Sporting Goods, Inc. expects to record a pre-tax impairment charge in the range of approximately $165 million to $180 million that will decrease net income by $144 million to $153 million, or approximately $1.29 to $1.37 per diluted share in f

Hartmarx Files for Chapter 11

February 2, 2009 SGB Update

Hartmarx Corp., which makes the Jack Nicklaus, Bobby Jones and Lyle & Scott golf apparel collections, filed for Chapter 11 protection in an Illinois federal bankruptcy court, citing a “substantial decline” in sales to consumers and retailers as well as li

Luxottica to Destroy Pirated Glasses

February 2, 2009 SGB Update

Luxottica Group S.p.A. has been cleared to obliterate almost 144,000 pairs of counterfeit Ray-Ban glasses, uncovered during a raid of a Chinese distributor. The Milan-based maker of fashion and sports eyewear received a final order by the Consumer Protect

Anti-Dumping Complaint Filed Against China and Vietnam

February 2, 2009 SGB Update

The Shoe Manufacturers Association of Canada (SMAC) has requested that the Canada Border Services Agency (CBSA) re-investigate pricing of waterproof rubber footwear and bottoms exported or originating from the People's Republic of China and Vietnam..

LaCrosse Footwear Sees Q4 Income Plummet

February 2, 2009 SGB Update

LaCrosse Footwear, Inc. reported results for the fourth quarter and full year ended Dec. 31, 2008. For the fourth quarter of 2008, LaCrosse reported consolidated net sales of $35.1 million, up 8% from $32.7 million in the fourth quarter of 2007. For the f

Kmart Introducing Athletic Line

February 2, 2009 SGB Update

Kmart is introducing an exclusive athletic footwear and apparel collection called Protege and created by NBA star Al Harrington. The launch of Protege is part of Kmart's footwear re-launch which will feature new and exclusive brands both in stores n

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