SGB Update

Fisher Named Stein Mart CEO

As expected, Michael D. Fisher began his tenure as chief executive officer of Stein Mart, Inc., replacing the retiring John H. (Jack) Williams, Jr. who served the Company for 23 years. The planned succession was previously announced on June 3, 2002…

Mr. Rags Files Chapter 11…

California-based Mr. Rags Acquisition Inc. has filed for Chapter 11 bankruptcy protection. A private investment firm bought the 114 store teen retailer last spring from Claire’s Stores…

Quiksilver Expands CapEx Budget in 2003…

Quiksilver Inc. announced in an SEC filing last week that it expects $35 million to $40 million in capital expenditures in fiscal 2003 ending October 31, 2003. Fiscal 2002 capital expenditures were $22.2 million, compared with $22.6 million in fiscal 200

Head Consolidates Winter Sports Operations

Head N.V. announced a two-stage process to consolidate offices and warehousing in the U.S. The Head Tyrolia Wintersports business will move to Norwalk, CT and the company's Winter warehouse will be consolidated into the new, larger, state-of-the-art

The Sports Authority Cuts Q4 Outlook on Reduced Comps

The Sports Authority, Inc. announced that it expects fourth quarter earnings from normal operations of $0.46 to $0.49 per diluted share versus the Company's prior guidance of $0.50 to $0.53. The reduced view is expected to result in
earnings per di

JC Penney Appoints Krauter GMM Men’s and Kid’s

J.C. Penney Corporation, Inc. announced the appointment of Lana Cain Krauter, 51, as Executive Vice President and General Merchandise Manager, Men's and Children's Division. She will report to Vanessa Castagna, JCP Chairman and Chief CEO of JCPe

Columbia Reports 2002 Net Income Up 15.4%

Columbia Sportswear Company announced net sales increased 1.4% to $217.3 million for the fourth quarter ended December 31, 2002. The company reported net sales increased 4.7% to $816.3 million for fiscal year 2002. Net income for Q4 was $29.1 million, a

Luxottica Reports 2002 Net Income Increases 17.6%

Luxottica Group S.p.A. announced consolidated net sales for the quarter ended December 31, 2002 declined 7.7% to 668.6 million euros. Net income for the quarter rose year-over-year by 22.3% to 74.4 million euros…

Brunswick Sees Q4 Net Sales Rise 29%; Reports Profit

Brunswick Corporation reported net earnings of $20.5 million for the fourth quarter of 2002, compared with a net loss of $2.6 million for the year-ago quarter. Sales increased 29% to $928.0 million. The company reported net sales rose 10% to $3.7 bn for

SIA Appoints New Chairman, Board Members

A new chairman and three directors were elected
to the SnowSports Industries America board of directors this week at the association’s annual meeting in Las Vegas. The meeting was held in conjunction with the 2003
SIA SnowSports Show…

adidas Expects 11% Sales Increase in 2002; Net Income Up 10%

Based on preliminary figures, adidas-Salomon sales in 2002 topped euro 6.5 billion, reaching the highest level in the Group's history. This is a 7% year-over-year improvement in euros (2001: euro 6.1 billion) and an 11% improvement on a currency-neut

Russell Acquires Bike Athletic Company

Russell Corporation announced that it had reached an agreement to acquire Bike Athletic Company for $16.25 million. It is anticipated that the U.S. Bankruptcy Court for the Eastern District of Tennessee will approve the agreement in the next few days…