SGB Update Sports & Fitness
City of Chicago Adopts Bicycle Safety Ordinance…
The Chicago City Council passed an ordinance Wednesday that allows the city to fine motorists from $150 to $500 for endangering cyclists. The new fines would apply to motorists caught parking or otherwise obstructing a bike lane, turning left or right in
Foot Locker, Inc. Takes its Lumps in Q4 and Gears Up for Improved 2008 Comps…
Foot Locker, Inc. suggested that the 2007 Holiday season was one of the most difficult retailing periods in the U.S. in many years, but the world’s-largest-athletic-specialty-retailer saw the trend early and aggressively liquidated inventories to end the
A Look Inside the GSCO/FINL Settlement…
At the beginning of its quarterly conference call with analysts, Genesco chairman and CEO Hal Pennington provided an overview of the details of the settlement with The Finish Line and UBS. While the settlement calls for GCO to receive a cash payment of $
Pacific Sunwear’s Q4 Net Sinks 33.9%
Pacific Sunwear of California, Inc. reported sales from continuing operations for the fourth quarter decreased 7.8% to $420.1 million from $455.8 million. Same-store sales decreased 2.2%. By concept, PacSun same-store sales increased 2.1% and demo same-st
City Sports Acquired by PE Firm; Hanaka Takes Board Seat
City Sports has been acquired by Highland Consumer Fund, with the firm also supplying City Sports with a substantial growth equity investment. The move will enable City Sports to further invest in its growth strategy and enhance its leadership position in
Dick’s Sporting Goods Q4 Net Income Beats Estimates
Dick's Sporting Goods said fourth-quarter net income rose 8% to $73.2 million, or 62 cents a share, topping recent guidance calling for 60 to 61 cents a share. A year ago, the company posted net income of $67.7 million, or 60 cents a share, for the f
Doug Kelly Out at Russell Athletic
Doug Kelly, who joined Russell Athletic as president about a year and half ago, is leaving the company to pursue other interests. No new president will be appointed. Kelly's duties will be divided among several Russell executives: Gary Barfield, Matt
Shirts and Skins Moves Headquarters
Shirts & Skins, Inc. (S&S), the producer of basketball uniforms, recently announced plans to move its corporate office/warehouse to Tualatin, Oregon, a suburb of Portland, in Mid-February of 2008. The new building will be approximately 15 miles from its c
Keen’s Richardson to Become Chief of Corporate Social Responsibility
Kirk Richardson will step down from his current role as president of Keen to move into a new role as the company's chief of corporate social responsibility. Richardson was named Keen president in February 2006. His move follows the departure of the c
Loop’d Network Launches Site for Skiers
Loop’d Network, a San Diego start-up that is creating a social networking site for action sports brands, has launched a community for skiers. The new site offers skiers the ability to seek sponsorship, enter contests sponsored by brands such as Oakley and
Fox Racing Shox Hires Patent Attorney
Fox Factory, Inc. has hired a high-powered patent attorney, inventor and former mountain biking and motocross enthusiast as its general counsel. David Haugen, who will also carry the title “chief patent attorney,” will focus on ensuring that Fox's i
Outdoor Industry Association Forms PAC
The Outdoor Industry Association (OIA) board of directors has approved the formation of the OIA Political Action Committee. The new political action committee, known as OIAPAC, will support candidates seeking election to Congress or the presidency…
MLS Partners With GSI Commerce
GSI Commerce Inc. has become the new, full-service e-commerce solution provider for Major League Soccer (MLS) recently re-launching the league's Web store at http://www.mlsgear.com. With the addition of MLS, GSI provides e-commerce solutions for near
Shimano Inc. Acquires Pearl Izumi from Nautilus…
Pearl Izumi has a new owner, and it seems to be a better fit this time around. Shimano Inc., the Japanese cycling and fishing gear maker, reached an agreement to buy Pearl Izumi for $69.5 million in cash. Nautilus had put the cycling and running brand on
As Crocs Goes Global, Investors Fret over Rising Inventory and Headcount…
Crocs, Inc. nearly doubled its sales in the fourth quarter, capping a year in which it went from a U.S. to an international phenomenon. But the company's inventory and accounts receivable grew even faster and headcount swelled by 83%, prompting inve
