Report: Modell’s Hires Restructuring Adviser
Modell’s Sporting Goods has retained Berkeley Research Group as its financial adviser to explore restructuring options, including a possible bankruptcy, according to a report from the Wall Street Journal.
Dick’s Sees Return To Positive Comps In Second Quarter
Dick’s Sporting Goods reported fourth-quarter earnings exceeded Wall Street’s targets. Overall earnings and sales fell in the quarter due to a calendar shift. For the full year, the leading U.S. sporting goods chain predicted consolidated same store sales to be approximately flat to an increase of 2 percent, with positive consolidated same store sales beginning in the second quarter.
Yue Yuen’s Sales Slip in February
Yue Yuen Industrial Ltd. reported sales slid 2.6 percent in February to $673.0 million from $691.0 million.
Nike Partners With UEFA Women’s Football
Nike has reinforced its commitment to the growth of women’s football by agreeing a landmark partnership with UEFA. The three-year deal sees Nike become an official partner of UEFA Women’s Football and the match ball supplier for UEFA Women’s competitions.
Adidas Partners With Dick’s On Tango League Tournament
Adidas Soccer partnered with Dick’s Sporting Goods to further expand the Adidas Tango Qualifying soccer tournament to five new U.S. cities.
Wall Street: Nike’s Share Gains On Adidas Seen Accelerating
With quarterly results soon arriving from both firms, two reports from Stifel and Cowen arrived finding Nike’s growth accelerating largely at the expense of Adidas.
Adidas To Pay Equal Bonuses For Women’s Soccer World Cup Winners
Adidas said it plans to give the same bonus to any of its sponsored players on the Women’s World Cup-winning soccer team as their male counterparts. The announcement follows news that the U.S. women’s national soccer team is suing their federation with allegations of gender discrimination, where all 28 members of the squad were named as plaintiffs in federal court.
Bass Pro Shuttering Facilities In Sidney, Oshkosh In Nebraska
Bass Pro Shops announced it will be closing a distribution center in Sidney, NE, the former hometown of Cabela’s, as well as a merchandise return center in Oshkosh, NE. A total of 162 jobs will be affected.
Preliminary Results See Amer Sports’ Shareholders Favoring Anta Sports Merger
Amer Sports Corp. in a statement that its shareholders had provided overwhelming support for its merger with a consortium led by China’s Anta Sports.
Dick’s Sporting Goods Funds Girls Sports Matter Projects
In honor of International Women’s Day, The Dick’s Sporting Goods Foundation announced it would fully-fund all girls Sports Matter projects currently on DonorsChoose.org.
Nike Extends Contract With BYU
Nike reached an agreement on a new seven-year contract Brigham Young University (BYU). BYU was one of the first universities in the country to join the Nike family by wearing its footwear back in the late 1970s.
Stage Stores Posts Q4 Loss, Commits To Off-Price Shift
Stage Stores Inc. reported a loss of $7.8 million in the fourth quarter as same-store sales slid 2.9 percent. The department store operator also said it is committed to shifting its focus to expanding the Gordmans off-price concept.
Mike Ashley May Drop Sports Direct Roles To Run Debenhams
Sports Direct International PLC said it has requisitioned a general meeting of Debenhams PLC to remove most of the department store chain’s directors and install Sports Direct’s founder and CEO, Mike Ashley, to lead the company. If appointed, Ashley will step down from his current roles as a director and CEO of Sports Direct.
Patagonia, L.L. Bean Near Top Of Reputation Rankings
Patagonia ranked third and L.L. Bean fourth in this year’s Axios Harris Top-100 Poll’s survey ranking the public’s perception of the 100 most visible U.S. companies. Nike, Adidas, Under Armour and Dick’s Sporting Goods also landed on the list.
The Buckle Sees February Comps Decline
The Buckle Inc. announced that comparable store net sales, for stores open at least one year, for the 4-week period ended March 2, 2019 decreased 6.8 percent.
