Knight Steps Down as Nike, Inc. CEO; Market Speculates on Company Future…
The sporting goods industry has had a few days to absorb the news last week that Phil Knight, Nike, Inc. co-founder, chairman, president and CEO, was stepping down from the president and CEO role at the end of the year. He will remain chairman of the Boa
GI Joe’s Sell Equity Stake to Finance Growth…
G.I. Joe’s Sports & Auto Stores has received $11.5 million in equity financing through a deal inked last week with Nogales Investors, a Los Angeles-based private equity firm. The bulk of the financing will be used to finance expansion in the Northwest, w
Foot Locker Gets Champs and Lady Lift in Q3; Europe Starts to Improve in Q4…
Foot Locker, Inc. saw improving results in some of its U.S. businesses in the third quarter, thanks primarily to Nike, while the company starts to see some improvement in its Europe business. Total sales increased due primarily to the addition of roughly
Dynacraft Hit with $1.4 Million Fine for Recall Delay…
Dynacraft Industries Inc. will have to pay the piper for delaying to report problems with its mountain bikes, agreeing last week to pay $1.4 million to settle allegations that they incompletely and belatedly informed the Consumer Product Safety Commission
Genesco Again Gets Journeys and Hat World Help to Counter Jarman Drag…
Genesco Inc. again counted on its Hat world acquisition to grow profits for the third quarter ended October, as the operating profit boost from the specialty retailer acquired in April helped push net income up more than 28% for the period. Top-line sale
When the Customer is Wrong… For Your Business…
While big-box retailer Best Buy operates in a completely different world from the Bicycle Outdoor or SnowSports industries, the company is implementing some radical new strategies that deserve some attention. Under the Guidance of Consultant and Columbia
Sport Supply Group Sees Upside in New Strategy…
Sport Supply Group is starting to see some results in its turnaround efforts after divesting itself of its team dealer operations a year ago and selling the ATEC business to Wilson Team Sports in February of this year. The move to become more of a servic
Famous Footwear Again the Shining Star at Brown Shoe Company in Q3…
Brown Shoe Company saw continued challenges in certain parts of their Wholesale business and weakness at Naturalizer Retail offset nice operating profit gains at Famous Footwear in the fiscal third quarter ended October 30. BWS beat EPS estimates by a pe
Sport-Haley Looks to Go Private; Fiscal Q1 Loss Widens Despite Sales Gain…
Shares of Sport-Haley, Inc. jumped nearly 21% for the week to close at $4.83 on Friday after the company’s Board of Directors authorized chairman Ron Norick to start negotiations with potential investment banking partners to explore the potential strategi
Golfsmith Expands Management Team; Q3 Hurt by Slowdown in Play…
Golfsmith International Holdings, Inc. reported net revenues for the third quarter ended October 2 increased 3.9% to $73.9 million compared with $71.1 million in the same period of the prior fiscal year. Same-store sales decreased 7.9% in Q3 compared to a
Industry Groups Review Election Results…
America Bikes and the League of American Bicyclists compiled an update on the election outcome and the changes it could have on bike legislation. While some results are still undecided, the two organizations feel they have a working understanding of the m
Smith Optics Restructures
Effective immediately, Smith Optics will be implementing a departmental re-structuring. With the retirement of Marketing Senior Vice President Kerry Marumoto, the organizational makeup has been re-evaluated and structural changes will be executed…
GI Joe’s Sell Equity Stake to Finance Growth…
G.I. Joe’s Sports & Auto Stores has received $11.5 million in equity financing through a deal inked last week with Nogales Investors, a Los Angeles-based private equity firm. The bulk of the financing will be used to finance expansion in the Northwest, w
Stearns Acquires Watermark’s Inflatable PFD Business…
WaterMark is selling its inflatable PFD business to K2 Inc’s Stearns division. Stearns has acquired all of the assets of the inflatable personal flotation device business including the SOS and SOSPENDERS brands and all warranty responsibility for the prod
Knight to Step Down as Nike CEO; Successor Named
Nike, Inc. has appointed William D. Perez as President, Chief Executive Officer, and Director effective December 28, 2004. Mr. Perez will succeed Nike, Inc. co-founder, Chairman and CEO Philip H. Knight, who will continue as Chairman of the Board. Mr. Pe
