Foot Locker Shuffles the Upper Deck
The strength of the retailer’s European business, and the planned growth there, made the resignation of Foot Locker Europe CEO Simon Rider a surprise to many. Foot Locker's major expansion plans in Europe were counted on to offset the weakening US b
Kmart Exits Chapter 11, Names Lampert Chairman
Kmart Holding Corporation announced that the Board of Directors of the Company has appointed Edward S. Lampert, Chairman and Chief Executive Officer of ESL Investments, as Chairman of the Board. Kmart emerged from bankruptcy court protection Tuesday.
KSA Offers Survival Strategies for Difficult Economic Times
Retailers must focus their attention on eight retail priorities to survive in difficult economic times says Phil Kowalczyk, Managing Director, North America for Kurt Salmon Associates (KSA). “Successful retailers know they must consistently focus on devel
Spiegel Gets DIP Financing Final Approval
The Spiegel Group announced that it has received final Bankruptcy Court approval for the full amount of its $400 million senior secured debtor-in- possession (DIP) financing facility…
Retailers Welcome Debit Card Lawsuit Settlement
The National Retail Federation has welcomed the settlements reached with Visa and MasterCard this week in a federal antitrust lawsuit brought by U.S. merchants against the two companies regarding their debit card practices. The settlements came in a laws
Big 5 Doubles Q1 Net Income as Comps Inch Up 0.6%
Big 5 Sporting Goods Corporation reported net sales for the fiscal 2003 first quarter that ended on March 30, 2003 increased by $7.4 million, or 4.7%, to $164.5 million from $157.1 million in the first quarter of 2002. Same store sales increased 0.6% ver
Rawlings Acquires ABC Helmet Company
Rawlings Sporting Goods Company Inc. has signed a definitive agreement to acquire certain assets of the ABC Helmet Company. The cash transaction is expected to close in the third quarter and is intended to help build on Rawlings' strength as the num
Buy.com Launches Online Sports Store
Buy.com Inc. announced that it has significantly expanded its product offering by launching a Sports Store, giving customers access to 65,000 new products from top brand names in the sporting goods marketplace. The Sports Store will offer Wilson, Adidas,
Nautilus Q1 Net Income Down 43% on 4% Sales Dip
The Nautilus Group, Inc. reported net sales of $129.4 million for the first quarter ended March 31, 2003, compared to $135.9 million for the corresponding period last year. Net income for the quarter was $13.7 million compared to $24.0 million in the firs
Gander Mountain in Alliance with Arctic Cat
Arctic Cat Inc. has formed a new alliance with sporting goods retail giant, Gander Mountain. Gander Mountain's newly-opened Geneva, Ill., store will offer the full line of Arctic Cat ATVs, as well as genuine parts, garments and accessories…
Galyan’s Closes on New Five-Year Revolver
Galyan's Trading Company, Inc. has closed on a $250 million senior secured bank facility that will mature in April 2008. This new revolving credit facility replaces the previous $160 million revolving credit facility that was to expire on May 3, 2004
Hibbett Stockholders to Offer 2 Million HIBB Shares
Hibbett Sporting Goods, Inc. has filed a prospectus supplement to its shelf registration statement with the Securities and Exchange Commission for a public offering of 1,960,081 shares of its common stock. The offering is being made in connection with a
Sportsman’s Guide Rides Web Sales to Higher Q1 Profits
The Sportsman's Guide, Inc. reported sales for the quarter ended March 31, 2003 increased 5% to $43.7 million and reported net earnings of $957,000, or $0.19 per fully diluted share for the quarter, a 22% increase when compared to the three months en
WHAM-O Acquires Riva Sports
WHAM-O, Inc., the leading manufacturer of innovative outdoor fun products for every season, today announced the acquisition of Riva Sports, Inc., a Rockville, Maryland-based maker of winter recreational products…
Value City Amends Q4 Earnings Overstatement
Value City Department Stores, Inc. announced Tuesday that, due to an administrative error, fourth quarter 2002 diluted earnings per share were overstated in a press release dated April 7, 2003 when the Company reported diluted earnings per share of $0.16
