Gart Sports Q4 Comps Down 3.2%; Reaffirms Guidance
Gart Sports Company reported that it expects to meet its prior earnings guidance for the fourth quarter 2002 of $1.03 per fully diluted share and full year 2002 of $1.86 per fully diluted share.
Total sales for the 13 weeks ended February 1, 2003, were
PacSun First to Launch Hurley Footwear
Pacific Sunwear of California Inc. becomes the first national retailer to launch the new Hurley footwear line. The shoes are available in PacSun stores and online.
K2 Inc. Completes Debentures Transaction
K2 Inc. announced it has completed the transaction with k1 Ventures Ltd., a Singapore-based investment company, in which K2 sold $25.0 million of its 7.25% convertible subordinated debentures due March 2010…
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
When Does a Good Show Get Too Big???
Lesson One in trying to kill the golden goose trade show – make the show so big that you have to trek all over town and then shoo away all the retailers with bad timing. Blow into a balloon long enough and it will pop! That was the feeling as the exhibit
… 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…
Russell Firing On All Cylinders…
Shares of Russell Corporation rose 4.5% for the week, closing at $15.68 on Friday. The company reported lower Q4 sales and stronger earnings on Thursday…
