Not Exactly Another Clash of the Titans…
Footstar has reportedly reached an agreement with Nike over a dispute that arose over Nike’s attempt to cut the retailer’s discount terms. A report in a local paper quoted a Footstar spokesperson that said, “The terms are confidential, and the proceeding
G.I. Joe’s Completes $37.5 Million Revolver Extension
G.I. Joe's Sports and Auto Stores completed a three-year extension of its existing credit agreement, with Wells Fargo Retail Finance, Boston, MA, that will provide up to a $37.5 million revolving facility through 2008. The company plans to use the pr
Footstar GOB Sales Get Under Way; Will Close Additional Doors…
Footstar commenced Going Out of Business sales at 163 stores on Friday, including all remaining Just for Feet locations and 75 of the company’s Footaction stores. Hilco Merchant Resources was the winning bidder in the auction to be appointed as liquidati
BOSS Goes One-on-One With Dennis Madsen
Dennis Madsen, REI’s president and CEO, first joined the national retail cooperative in 1950 as a 17 year old. He started with REI on the retail sales floor and the mail order department. Madsen serves on the national board of directors of the Rails-to-T
McCool Sentenced in JFF Fraud Case…
The first sentence in the Just for Feet fraud case was handed down on Thursday, with adidas America’s Timothy R. McCool receiving an eight-month sentence and a $10,000 fine. He pled guilty in October to conspiracy to submit false statements to the audito
The New Sports Authority Sees Operational Upside, Sluggish Sales in Q4…
The format that the New Sports Authority is using to report numbers will give it some cover over the next year as the positioning of a “lost quarter” for the old TSA’s Q2 make it impossible to draw any clear full-year comparisons for the pre- and post-mer
adidas’ McCool Receives Eight Month Sentence in JFF Fraud Case
The first sentence in the Just for Feet fraud case was handed down on Thursday, with adidas America’s Timothy R. McCool receiving an eight-month sentence and a $10,000 fine. He pleaded guilty in October to conspiracy to submit false statements to the aud
Johnson Family Extends Offer Period to Buy Company
Helen Johnson-Leipold, chairman and CEO of Johnson Outdoors, and Samuel C. Johnson, majority shareholder and director of Johnson Outdoors, are extending for an additional sixty days their February 20, 2004 non-binding proposal to acquire the outstanding p
Mossimo Appeal Denied; Company Responds
Mossimo announced that the California Supreme Court has denied its appeal in Cherokee vs. Mossimo. The Company had challenged the California Court of Appeal's decision affirming a superior court judgment for Cherokee Inc., relating to a finder's
Footstar Gets GOB Sale Approval; Will Move Direct Biz to NJ
Footstar, Inc. announced Thursday that it is beginning inventory clearance sales at 88 Just For Feet stores and 75 of its 428 Footaction stores. Footstar has appointed Hilco Merchant Resources as liquidation agent. Footstar also now plans to close its t
Nike Fiscal Q3 Net Income Up 61% on 21% Revenue Gain
Nike, Inc. reported revenues for the third quarter ended February 29, 2004 increased 21% to $2.9 billion, versus $2.4 billion for the same period last year. Third quarter net income totaled $200.3 million, or $0.74 per diluted share, compared to $124.7 mi
REI to Open Huntington Beach Store
Recreational Equipment, Inc. (REI), a national retail cooperative providing quality outdoor gear and apparel, today announced plans to open a store in spring of 2005 in Huntington Beach, Calif. The 22,500 square-foot store will serve 45,000 active coopera
Big Agnes Wins Backpacker Editor’s Choice Award
Big Agnes announced that it has won Backpacker Magazine’s Editor’s Choice Award for best new product of 2004. The Editor’s Choice Award is widely considered to be the most prestigious honor in the outdoor industry, and the Insulated Air Core Sleeping Pad
Sierra Designs Takes Home Two Backpacker Editors Choice Awards
Sierra Designs has won two 2004 Editors’ Choice Awards from Backpacker Magazine. These highly sought after awards are given each year by Backpacker editors who spend hundreds of hours on the trail testing gear in the most adverse weather and trail conditi
Lowa Wins Backpacker Editors Choice Award
The editors of Backpacker magazine have just announced to their readers the LOWA Vertex GTX as the recipient of a 2004 Editor’s Choice Award, the most prestigious award in the outdoor industry. The boot features Biomex Protection, a unique technology that
