SGB Update

On the heels of its recent move to acquire 73% of apparel manufacturer Pro Kingtex Industrial Co Ltd, footwear-maker Yue Yuen is now reportedly close to a deal with Taiwanese sportswear maker Quang Viet Enterprise Co…

Brown Shoe Company, Inc. reported an 18% increase in net earnings to $9.0 million, and a 14% gain in diluted earnings per share to $0.49, for the first quarter of fiscal 2003 ended May 3, 2003. This compares to net earnings of $7.6 million, or $0.43 per

The Upper Deck Company LLC announced Thursday the signing of hoops phenom LeBron James, one of the most highly-touted young talents in basketball history, to his first professional sponsorship deal…

Pop diva Britney Spears and Skechers USA have settled their respective actions against each other in a deal approved last week by a federal judge in Los Angeles.
The terms of the settlement deal were not revealed…

As K2 and Russell push back from the table to digest their recent acquisitions, the consolidation wave in sporting goods continues unabated as Escalade Sports moved last week to acquire the assets of North American Archery Group LLC out of bankruptcy cour

A study released last week estimates that 2003 online retail sales in the U.S. could grow 26% to about $96 billion. NRF’s online group, Shop.org and Forrester Research conducted the survey of more than 130 retailers, reporting that online retail sales ju

• Stores average 5951 square feet. Stores opened during 2003 averaged 4800 square feet.
• Now plans to open 50 doors in 2004. This will result in an increase in square footage of 7% – 8%.
• Typical store carries 600-700 styles and 10,000+ pai
  

• Total sales $271 mm, up 20%, or $45 mm from Q1 2002.
• International increase was $33 mm, of which $18 mm was attributable to foreign exchange rates.
• At constant currency, growth was up 12%.

• Domestic (wholesale) sales were $147 mm vs. $185 mm in Q1 2002, declining to 71% of total sales from 76% in the year-ago quarter.
• Expect to open 25-30 new doors in 2003, six of which have been opened to date.
• Expect Q2 sales to be $200 mm
  

• Sold 4.5 mm pairs in the quarter.
• Average selling price decreased to $24.71 from $25.20 in Q1 2002.
• Classics business increased 58%.
• Margins decreased to 43.5% from 44.7 % due to “recognition of guaranteed royalty payments to National
  

ShopKo Stores, Inc. announced sales and earnings for the first quarter ended May 3, 2003. Consolidated sales were $707.9 million compared with $728.8 million for the same period last year. Comps decreased 2.7%. Net loss for the quarter was $1.1 million

• Average store is 11,600 sf, with $2.7 mm annual sales and has 30,000 pairs of shoes in inventory.
• Plans to open 40 doors in 2003 and expand at 20% per year thereafter. All stores are leased.
• Focused on growing Women’s non-athletic.

It appears that Oaktree Capital and management at the former Spalding Sports Worldwide have made the decision to stay in the golf ball business. The new Top-Flite Golf Company takes the name of the remaining company’s number one brand in revenues and pro

• Journey’s is 53% of total net sales and 64% of profits. Operating margins at Journey’s is 12.2%, down from 13.6% in Q1 LY. 2003 comps were flat.
• Journey’s operates 579 stores, averaging 1600 square feet.
• Average selling price decli