The New York Post is reporting this morning that Foot Locker, Inc. Chairman and CEO Matt Serra may be ready to hang up his sneakers after nearly ten years at the helm. The Post said it had learned that Mr. Serra is “gearing up for retirement” and noted h
Category: Sports/Fitness
Rocky Q1 Revenues, Earnings Drop Despite Cost Cutting
Rocky Brands, Inc. said net sales for the first quarter of 2009 decreased to $50.1 million versus net sales of $60.5 million in the first quarter of 2008. The company reported a net loss of $1.1 million, or (20 cents) per diluted share versus net income o
L.L. Bean to Lay Off Over 200 Maine Employees
L.L. Bean Inc. plans to lay off 200 to 240 workers in Maine due to poor sales results, reported the Associated Press (AP). In a letter to its 5,400 employees Friday, the retailer said the voluntary retirement incentives it tried to enforce in February wer
Ruger Q1 Results Skyrocket on Increased Demand; Dividend Declared
Sturm, Ruger & Company, Inc. reported net sales of $63.5 million and earnings per share of 30 cents, compared with sales of $42.5 million and earnings per share of 7 cents in the first quarter of 2008…
Jarden to Offer $250 Million in Notes
Jarden Corp., the parent of Coleman, K2, Rawlings, Marmot and other outdoor brands, said it will offer $250 million in notes and use proceeds to pay off part of its senior credit facility term loans. Jarden said the senior unsecured notes would be guarant
Maturing Performance Apparel Sees Gains Moderate
Performance apparel has been the darling of the sporting goods apparel business over the last few years, netting strong double-digit gains that have masked weakness in many other areas of the apparel market. The categories that make up the performance se
West 49 Warns of Bank Covenant Problems
West 49 Inc. reported its fourth-quarter loss widened to Canadian $8.5 million ($6.9 million) from C$1.2 million ($968,000) a year earlier, and warned that it was in violation of one of its bank covenants at the quarter's close. The action sports cha
Jarden Outdoor Sees Heavy Currency Impact in Q1
Jarden Corp. reported that first quarter net sales for its Outdoor Solutions segment, which includes the Coleman, Pure Fishing, K2 Sports, Marmot and Rawlings businesses, fell 10.2% in the first quarter, historically the division’s largest quarter. Four o
Specialized Recalls Bicycles
Specialized Bicycle Components Inc., in cooperation with the U.S. Consumer Product Safety Commission, has announced two voluntary recalls of bicycles. Consumers are being advised to stop using recalled products immediately unless otherwise instructed…
Columbia Sees Tough Q1, but Exceeds Guidance
Columbia Sportswear has been cited recently by a number of outdoor specialty accounts as a brand that will get more attention this year, but the company has yet to see any real reversal of fortunes in the U.S. market as weakness in the company’s much larg
Hyde Joins Cerf Bros. Bag as VP of Sales
Cerf Brothers Bag Company, a 94-year-old manufacturer of packs, luggage and bags for the outdoor industry, has named industry veteran Ron Hyde as vice president of sales, said Brian Spanel, chief executive officer…
Adidas India to Open 200 Stores by Year’s End
Adidas India plans to open 200 outlets before year's end, reports indiaretailing.com. The stores will be located in a range of markets, from high to low tier cities. According to the report, adidas India presently has over 450 stores, 130 of which ar
Mainland Headwear/New Era to Host Supply Chain Symposium in China
Mainland Headwear Holdings Limited and New Era Cap Company, Inc. have jointly organized a two-day symposium in Shenzhen, “Benefits of Supply Chain Partnerships,” focused on achieving greater impact and sustainability in supply chain labor compliance throu
Steve Madden Raises Full Year 2009 Guidance
Steve Madden expects net sales for the first quarter 2009 to be between $106 million and $107 million. This compares to net sales of $100.5 million for the first quarter of 2008. EPS for the first quarter of 2009 is expected to be in the range of 35 cents
Hat World Paid $6.4 Million for Team Dealer
Hat World acquired the assets of Impact Sports, a dealer of branded athletic and team products for college and high school teams, for a purchase price of $5.1 million plus assumed debt of $1.3 million funded from borrowings under the credit facility, acco
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