It’s the Product, Stupid…
With Finish Line CEO Alan Cohen declaring that, “It’s all about the product”, the athletic specialty retailer seemed to put a positioning stake in the ground to “focus on superior product selection and presentation, instead of price”. FINL clearly expect
Like Déjà Vu All Over Again…
Skechers on Friday acknowledged that a Pennsylvania law firm has filed a class action suit against the footwear company alleging violations of the federal securities laws and breach of fiduciary duty…
Converse Delays IPO, But Rolls On…
Converse management has decided to delay the timing of its Initial Public Offering until current global geo-political issues can play out and the market returns to a somewhat normal cycle. The company hasn't launched a pre-offering “roadshow” for in
And Then There Were None…
Benneton Group has finally jettisoned the last of its Benneton Sportsystem brands, inking a deal Friday that will see current Prince management — led by CEO George Napier — partner with Lincolnshire Equity Fund II LP to purchase the former number one te
K2 / Rawlings Complete Deal…
Shareholders from both companies voted Wednesday to approve the deal that will make Rawlings Sporting Goods a wholly owned subsidiary of K2…
Puma Takes Control in Japan…
Puma shares finished up 10% for the week on news that the company raised its 2003 sales growth outlook after it took direct responsibility for its Japanese footwear and accessories business. The new fully owned subsidiary, Puma Japan K.K., will start ope
Hilfiger Lead Growth at Stride Rite…
Stride Rite Corporation saw Q1 2003 net income rise 17% to $8.8 million on solid sales gains for its Keds, Sperry Top-Sider, and Tommy Hilfiger footwear lines. Earnings per share for the quarter ended February 28, 2003 were 22 cents, up from 18 cents fo
Never Bet On A Sucker’s Game…
A recent article in the New York Times started, “If it’s not marked down, America’s shoppers are telling merchants to forget it”. The article went on, “Fewer shoppers are interested…because they have become accustomed to bargains—discounts that are furth
Gildan Activewear Announces Consolidation of Sewing Facilities
Gildan Activewear Inc. announced its intention to close its Montreal sewing plant, which currently provides approximately 2% of the Company's overall sewing requirements. The continuing growth in Gildan's integrated sewing production will be sup
The Finish Line Fiscal Year Net Income Up 35% on 8.0% Sales Gain
The Finish Line, Inc. reported fiscal 2003 net sales increased 8% to $757.2 million for the fifty-two weeks ended March 1, 2003 compared to $701.4 million for the fiscal 2002. Comparable store net sales increased 3% for the year. On a GAAP basis, net in
Everlast 2002 Net Income Up 4.7% on 24% Sales Increase
Everlast Worldwide Inc. reported net sales for the year ended December 31, 2002 increased 23.9% to $65,613,012 as compared to $52,951,510 reported in 2001. Net income grew 50.2% to $997,443, or $0.32 per basic share, compared with $664,056, or $0.21 per
Stride Rite Fiscal Q1 Net Income Up 17% On 8.0% Sales Gain
The Stride Rite Corporation reported net sales for the first quarter of fiscal 2003 were $152.3 million, an 8% increase from the $140.7 million in the comparable period of fiscal 2002. Net income for the first quarter of fiscal 2003 totaled $8.8 million,
K2 Inc. Completes Merger with Rawlings Sporting Goods Company
K2 Inc. announced completion of its merger with Rawlings Sporting Goods Company, Inc. Earlier Wednesday, shareholders of both companies met separately to approve the merger, the final step in consummating the transaction for which all regulatory reviews a
adidas Teams with Magic Johnson to Offer Authentic Collegiate Jerseys
Starting this fall consumers will be able to purchase the authentic collegiate jerseys of legendary athletes featuring sports greatest names and numbers as they appeared on their alma matter's uniforms. This new offering is the result of a collabor
Torpedo Sports Posts Fiscal Q2 Loss on 29% Sales Decline
Torpedo Sports USA, Inc. announced overall sales decreased 28.9% to $2.4 million during the quarter ended January 31, 2003, as compared to the quarter ended January 31, 2002. The loss from operations, if you exclude non-cash stock-based compensation, was
