Mr. Rags Files Chapter 11…
California-based Mr. Rags Acquisition Inc. has filed for Chapter 11 bankruptcy protection. A private investment firm bought the 114 store teen retailer last spring from Claire’s Stores…
Quiksilver Expands CapEx Budget in 2003…
Quiksilver Inc. announced in an SEC filing last week that it expects $35 million to $40 million in capital expenditures in fiscal 2003 ending October 31, 2003. Fiscal 2002 capital expenditures were $22.2 million, compared with $22.6 million in fiscal 200
Head Consolidates Winter Sports Operations
Head N.V. announced a two-stage process to consolidate offices and warehousing in the U.S. The Head Tyrolia Wintersports business will move to Norwalk, CT and the company's Winter warehouse will be consolidated into the new, larger, state-of-the-art
Malden Strikes Initial Deal on Chapter 11 Exit
Malden Mills Industries, Inc. announced that the company, the agent for its senior lending group, and its unsecured creditors' committee have agreed in principle to terms for a consensual plan of reorganization…
West Marine January Comp Store Sales Dip 5.4%
West Marine, Inc. reported that net sales for the four weeks ended January 25, 2003 increased 10.4% to $24.5 million. Comparable store net sales decreased 5.4% from the same period a year ago…
Vans Extends Asia Licenses
Vans, Inc. announced that it has reached agreements for five-year extensions of its license agreements with ABC-Mart Inc. The licenses cover Japan, South Korea, Hong Kong, and Taiwan…
Sports Supply Group Narrows Q3 Loss; Sales Up 8.6%
Sport Supply Group, Inc. announced revenues for the three months ended December 27, 2002 increased 8.6% to $18.5 million. Net loss for the quarter was ($2,358,809) as compared to ($3,695,055) for the comparative quarter last year…
Kmart Receives Exit Financing Approval
Kmart Corporation on Wednesday announced that it has received bankruptcy court approval for the $2 billion in exit financing from GE Commercial Finance, Fleet Retail Finance Inc. and Bank of America, N.A…
Russell Acquires Bike Athletic Company
Russell Corporation announced that it had reached an agreement to acquire Bike Athletic Company for $16.25 million. It is anticipated that the U.S. Bankruptcy Court for the Eastern District of Tennessee will approve the agreement in the next few days…
St. Moritz Rounds Out Canada Rep Coverage
St. Moritz Watch Corporation (SMWC) announced that two new independent agencies have signed on to market their line of watches, stop watches and pedometers. The company appointed Alpine Exposure Inc. and Lightspeed Marketing Inc…
Reebok Triples Q4 Net Income; Full Year Up 23%
Reebok International Ltd. reported net income for the fourth quarter ended December 31, 2002 increased 200% to $16 million compared to net income of $5.1 million in the fourth quarter of 2001. Net Income for the year jumped 23%.
Net sales for the 2002 fo
Sport Chalet Fiscal Q3 Net Income Jumps 18.2%
Sport Chalet, Inc. announced sales for the fiscal third quarter ended December 31, 2002 increased 7.2% to to $72.3 million. Comparable store sales increased 2.2%. Net income increased 18.2%…
Phoenix Footwear Appoints Callaway Vet as CFO
Phoenix Footwear Group, Inc. announced today the appointment of Ken Wolf as Chief Financial Officer, effective February 1, 2003…
Action Performance Fiscal Q1 Profits Slip 2.5%
Action Performance Companies, Inc. reported first quarter revenues for the first quarter ended December 31, 2002 increased to $85.8 million from $84.1 million in the same period last year. Net income slipped 2.5%…
Dick’s CEO Repays Company Loan Early
Reuters is reporting that Ed Stack, chairman & CEO of Dick's Sporting Goods, has already paid in full a $6.2 million company loan from May 2001. The loan had been due in 2011…
