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Deep Discounts Mean Retail Stores Feel Pain

February 6, 2003 SGB Update

Laurie Gilbert traveled down from Freeport Tuesday to look for socks at the Maine Mall. She ended up finding sales she couldn't refuse, and walked away with some compact disks and a pair of shoes — as well as the socks that initially drew her to

Saks Inc. January Comps Decrease 2.1%

February 6, 2003 SGB Update

Retailer Saks Incorporated announced that comparable store sales for the four weeks ended February 1, 2003 compared to the four weeks ended February 2, 2002 decreased 2.1% on a total company basis. By segment, comparable store sales were flat for SDSG and

AAMI Signs Agreement with Nations Best Sports

February 5, 2003 SGB Update

American Ammunition, Inc. has announced that it has been approved as a vendor for Nations Best Sports assured payment program, which guarantees payment of all its individual members…

Department Stores Reinvent Themselves in Effort to Remain Relevant

February 4, 2003 SGB Update

Wider aisles, centrally located cash registers, and new brands greet customers of Sears, Roebuck and Co. The Hoffman Estates, Ill.-based merchant is one of many retailers reeling from recession and hoping to turn things around this year…

adidas Net Income Growth Slowing in 2003…

February 3, 2003 SGB Executive

adidas-Salomon AG reported that sales for 2002 grew 11% on a currency-neutral basis exceeding $7.04 billion (€ 6.5 billion) for the year. Net income rose 10% to $248 million (€ 229 million), or $5.46 per share, up from $4.98 per share in 2001. Currency

Cannondale Gets New Life – For Now…

February 3, 2003 SGB Executive

Cannondale filed for Chapter 11 bankruptcy protection in U.S. Court last week, pointing to losses in its motor- sports division that inhibited the company's ability to make future investments…

Luxottica Reports 2002 Net Income Increases 17.6%

January 31, 2003 SGB Update

Luxottica Group S.p.A. announced consolidated net sales for the quarter ended December 31, 2002 declined 7.7% to 668.6 million euros. Net income for the quarter rose year-over-year by 22.3% to 74.4 million euros…

SIA Appoints New Chairman, Board Members

January 31, 2003 SGB Update

A new chairman and three directors were elected
to the SnowSports Industries America board of directors this week at the association’s annual meeting in Las Vegas. The meeting was held in conjunction with the 2003
SIA SnowSports Show…

Kmart Receives Exit Financing Approval

January 30, 2003 SGB Update

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…

adidas Expects 11% Sales Increase in 2002; Net Income Up 10%

January 30, 2003 SGB Update

Based on preliminary figures, adidas-Salomon sales in 2002 topped euro 6.5 billion, reaching the highest level in the Group's history. This is a 7% year-over-year improvement in euros (2001: euro 6.1 billion) and an 11% improvement on a currency-neut

SIA Reports Winter Sports Sales Up 7% Through December

January 30, 2003 SGB Update

Abundant snowfall coupled with stellar resort conditions led to increased sales in retail stores nationwide through
December. Overall sales for the entire winter sports market increased by 7.0% in dollars to $1.35 bn compared to $1.26 bn in 2001, accord