GSIC Burning Cash, Expects Losses…
GSI Commerce reported net revenue for 2002 increased 68.2% to $172.6 million. Comp sales increased approximately 16%. The net loss was $33.8 million for the year, compared to a net loss of $30.6 million last year. Net loss per share was $0.88 for 2002
Weather May Stymie Big 5 Win Streak…
The largest-retailer-on the west-coast said they focused on margins rather than chasing sales in the fourth quarter after good winter weather showed them a “head fake” in early November before disappearing for the balance of the quarter…
Saucony Runs with Core Business…
Based on results for the fourth quarter and full year 2002, Saucony is already starting to reap the benefits of the strategy the company put in place in mid 2001 to right-size the business and focus on its core consumer…
Nike May Be Eyeing Fila Bid…
Italian daily Il Sole/24 Ore reported last week that Nike Inc. is preparing a €400 million ($429 million) offer for Fila Holding SpA. The paper did not cite any sources.
The financial newspaper suggested that NKE would assume €280 million of Fila debt
K2/Rawlings Vote Scheduled…
K2 Inc. has set the vote on the proposed acquisition of Rawlings Sporting Goods Inc. for March 26, 2003. The special shareholder meeting is scheduled to be held in Los Angeles, CA. Investors of record on February 24, 2003 will be eligible to participat
Warren Buffett Snags Burlington…
The world’s most famous long-term investor’s Berkshire Hathaway company said that it will pay $579 million in cash to the creditors of Burlington Industries Inc., the textile manufacturer that filed for Chapter 11 bankruptcy protection in 2001…
Settlement Charge Impacts Huffy Q4…
Huffy Corporation reported that a charge related to the settlement of two lawsuits against a former subsidiary led to losses for the fourth quarter and full year…
K-Swiss is Just Getting Started…
The acquisition of Royal Elastics and the launch of the National Geographic footwear line were disappointments in 2002, but K-Swiss expects moves made with both brands to bear fruit in the coming year. The K-Swiss Classics business will continue to fuel
Finish Line To Expand Indy Operation…
The Finish Line Inc. has decided to stay in Indianapolis and begin a $20 million expansion at its corporate headquarters — a project that will more than double its square footage and add 90 new jobs…
Reebok Ends Kobe Talks…
Call it class warfare, but the questions swirling around Kobe Bryant’s search for a new sponsorship deal may well be answered in the court of public opinion in a place where he didn’t grow up – the urban inner city…
Oakley Backs Off Expectations…
We made a tongue-in-cheek projection in last week’s SEW that — due to the proliferation of minor press releases put out by the company the previous week – Oakley, Inc. was going to have one doozey of an earnings report for Q4 and full-year 2002…
Ex-TNF Execs Settle SEC Fraud Charges…
The Securities and Exchange Commission had suggested that the former The North Face CFO, Christopher Crawford, former Sales VP Todd Katz and former regional sales manager Richard Tyrer overstated revenue and gross margins by falsely recognizing revenue on
… As The SEC Opens Vail Probe…
Vail Resorts, Inc. revealed that the SEC has issued a formal order of investigation with regard to how the resort tallies initiation fees for its private clubs…
TNF and NFL Drive VFC…
VF Corporation reported sales in the company's Outdoor businesses rose 17% in the fourth quarter and 3% in 2002. An increase of 22% in first quality sales of The North Face brand and an 11% increase in international Outdoor sales were partially off
Snowboard Drives Strong Season…
SIA reported that chain store sales for snow sports equipment and apparel were up 2.2% to $293.9 million for the 2002 season through December, when compared to the same period of 2001. Unit sales were behind last year, tracking down 9.3%…
