Variflex Struggles with the Seasons…
Variflex reported an $800,000 net loss for the fiscal second quarter, an increase of 14.3% from a net loss of $700,000 in the year-ago period. Net sales for Q2 were $8.5 million, down 14.2% from net sales of $9.9 million for Q2 last year. Net loss per di
Hibbett Looks to be More Important to Fewer Vendors…
Hibbett Sporting Goods expects to become more important to a number of vendors this year as they consolidate the business in the hardlines area to do more business with fewer brands…
The Footstar Store Liquidation Sales: Winners and Losers…
Now that the other shoe has dropped in the Footstar bankruptcy case with the company filing motions last week to close at least 165 stores, the conversation has turned from when FTS would file or who would buy it to speculation on who loses and who gains
Not So Fast There Mister Man…
Meanwhile, the proverbial fly in the ointment appeared in the Footstar bankruptcy case as GE Capital Corp., which holds the lease for “certain furniture, fixtures and equipment” with FTS. GECC filed a number of objections to the proposed bidding process
NSGA Cost of Doing Business Survey Calls Out Team Dealers…
The NSGA released the Team Dealers segment of their bi-annual ‘Cost of Doing Business Survey’ and according to the new data, average net profit inched up 80 basis points to 2.6% compared to 1.8% 2001. Team dealers showed positive results in return on tota
180s in Patent Fight over Ear Warmers…
180s is taking on Walgreen’s in a patent infringement case involving the company’s ear-warmers. Walgreen’s has allegedly been selling a product under the brand name ‘Ear Band’ that is identical to 180’s mainstay wrap-behind-the-head ear-warmer, which has
Callaway Snags Another 27,000 Clubheads from Counterfeiter
Callaway Golf Company has seized 27,000 clubheads from Newport Golf, a company controlled by Jimmy Lin and accused of selling illegal copies of Callaway's golf clubs. A court-mediated settlement had given Callaway over $800,000 in cash and 28,000 ot
Nike Creates Marathon for Women
Nike has announced the creation of Nike 26.2, a marathon and half marathon for women to be run in San Francisco on October 24, 2004. The event will benefit The Leukemia & Lymphoma Society. Participants can train for the marathon through the Society's
TJX Appoints Group President to Oversee Bob’s Stores
The TJX Companies, Inc. has announced senior management changes that support the Company's ongoing growth plans. Among other promotions of senior management, Peter Maich has been promoted to Senior Executive Vice President, Group President. Mr. Maic
Cutter and Buck to Issue Dividend, Buy Back Stock
Cutter & Buck Inc. is starting a quarterly dividend and a stock repurchase program. The Board of Directors approved a dividend of $.05 a share, payable on April 9 to holders of record on March 26. The Board also approved repurchase of up to $6 million in
L.L. Bean Sets Record Revenue Level in Fiscal 2003
L.L.Bean reported net sales for the fiscal year ending February 29, 2004 increased 10% to $1.2 billion. The company also announced that its Board of Directors approved a cash award of 15% of annual pay to eligible employees, and cash gifts to recognize th
Shoe Carnival Q4 Earnings Fall 93% on 4.9% Sales Gain
Shoe Carnival, Inc. reported that net earnings for the fourth quarter ended January 31, 2004 were $113,000 compared with net earnings of $1.7 million in the fourth quarter last year. Diluted earnings per share were a penny per share compared with 13 cents
Dick’s Q4 Net Income Up 36% on 4.6% Comp Store Sales Gain
Dick's Sporting Goods, Inc. reported net income for the fourth quarter ended January 31, 2004 increased 36% to $26.0 million and earnings per share increased 22% to $1.00 per diluted share as compared to net income of $19.1 million and earnings per s
Sea to Summit and Black Diamond Sign Aussie Distribution Deal
Black Diamond Equipment has announced that effective July 1, 2004, Sea To Summit will become its official Australian distributor. Wishing to expand its presence to a greater number of selected Australian Retailers, this strategic business move will make a
Variflex Fiscal Q2 Loss Widens on Lower Sales
Variflex, Inc. reported reported a net loss of $826,000 or ($0.18) per diluted share, for the second fiscal quarter ended January 31, 2004 on net sales of $8.5 million, compared to a net loss of $670,000, or ($0.15) per diluted share, on net sales of $9.9
