Gotcha Emerges from Bankruptcy
Gotcha International LP announced Tuesday that it is emerging from bankruptcy. The company, which filed for Chapter 11 reorganization in August, will pay its creditors fully with 6-8 percent interest. Gotcha owes about $8.0 million, which should be pai
Wolverine Q2 EPS Up 9.5% on 8.7% Revenue Rise
Wolverine World Wide, Inc. reported that second quarter revenue rose 8.7% to $184.0 million compared to $169.3 million reported for the second quarter of 2002. Earnings per share improved to $0.23 per share compared to $0.21 per share reported for the sa
Nike Acquires Converse in $305 Million Deal
NIKE, Inc. has entered into a definitive agreement to acquire Converse, Inc. The total price to be paid for 100 percent of the equity shares is approximately $305 million plus the assumption of certain working capital liabilities at the time of the transa
Thornton Takes President’s Post at Stride Rite; Adds Woodworth to Run Hilfiger
The Stride Rite Corporation has announced that Richie Woodworth has joined the Company as President of Tommy Hilfiger Footwear. He will report to the company's newly appointed President and COO, Richard T. Thornton. Thornton will report to David Cha
Galyan’s Warns On Weaker Second Quarter Results
Galyan's is now warning of much weaker-than-expected Q2 results, blaming a weak economy, bad weather and poor apparel and shoe sales. The company expects sales in the range of $160 million to $164 million for the quarter and comps to be down in the
Nautilus Warns on Q2 and Full Year Results
Nautilus Group Inc. slashed its outlook for the second quarter and fiscal 2003, citing increased competition which hurt its Bowflex product line and soft consumer spending amid the weak market. The company now expects to report second quarter net sales in
Aussie Apparel Adds November to Stable
Aussie Apparel Group Ltd. has signed a letter-of-intent to acquire the November Clothing Company. Aussie Apparel simultaneously announced a letter- of-intent with Krash Distribution Company to acquire the November trademark in an asset purchase agreement.
NPD Expands Management Team
Tim Bowles has become a consultant to The NPD Group, joining the senior management team of this leading market information company. In addition to serving on the firm's Executive Committee, he will spearhead several key strategic projects for the fir
Stride Rite Makes Board Appointment
The Stride Rite Corporation announced that James F. Orr III has been elected to its Board of Directors. Mr. Orr has served as Chairman of the Rockefeller Foundation since December 2000. From May 2000 to December 2001, he was President and Chief Executive
American Capital Supporting Fenway’s Riddell Acquisition
American Capital Strategies Ltd. announced that it has invested $23 million in Riddell Sports Group Inc. American Capital's investment takes the form of senior subordinated debt and equity and supports the acquisition of Riddell by Fenway Partners In
Nordica Opens New Hampshire Headquarters
Nordica USA has opened the doors at its new corporate headquarters in West Lebanon, NH. The inauguation day event marked the storied brand’s return to New England after a six-year absence. On hand to celebrate the June 2nd opening were Mr. Giancarlo Zan
Saks Appoints Yiatchos SVP Marketing for Parisian
Saks Incorporated announced that Gary Yiatchos has been named Senior Vice President of Marketing for Parisian. Yiatchos replaces Bob Ferguson, who recently retired, and reports to George Jones, President and CEO of Saks Department Store Group…
VF Corp. Acquires Nautica in $585 Million Deal
VF Corporation has signed a definitive merger agreement to acquire Nautica Enterprises, Inc. VF will pay Nautica shareholders $17.00 per share in cash. VF will also pay approximately $14.6 million, net of tax, to cash out employee stock options, for a
Davis Named President of Enyce
Sport Brands International (SBI), the new parent company of Fila, Ciesse Piumini and Enyce, has named Evan Davis President of Enyce. Mr. Davis, 39, originally joined Enyce after serving as national sales manager and chief merchandiser for Mecca USA…
West Marine June Comps Down 2.0%
West Marine reported that net sales for the five weeks ended June 28, 2003 were $98.4 million, a 25.0% increase from net sales of $78.7 million for the same period a year ago. Comparable store net sales for the five weeks ended June 28, 2003 decreased 2.0
