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Sports Exec Weekly
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Sports Exec Weekly
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Sports Executive Weekly has quickly become one of the most trusted and widely distributed trade newsletters
servicing the Sporting Goods, Athletic Footwear, and Athletic Apparel markets. SEW, as it
has quickly become known in the industry, provides comprehensive coverage, in-depth analysis, and unique insight
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Hibbett Sports Third Quarter Comps Flag Amid Record Store Openings
Hibbett Sports Inc. reported a sharp drop in comp store sales growth in the 13 weeks ended Nov. 1, but was able to grow sales 5.0 percent to $218.3 million by opening a record 26 stores during the period. Comparable store sales for the recent quarter increased just 0.6 percent compared with 4.8 percent a year earlier...(11/23/2014)
Vista Outdoor Spin Off Back On
Alliant TechSystems Inc. is moving forward with plans to spin off its $2.3 billion-a-year sporting business as a publicly traded company as part of a merger of its aerospace and defense businesses with those of Orbital Sciences Corp...(11/23/2014)
Container Lines Waffle on Port Congestion Surcharges
In the space of five days last week, ocean container lines announced, suspended and then reimposed surcharges of up to $1,000 for every container imported through West Coast ports in a sign that chronic congestion at those ports is worsening. The waffling came amid signs that contract talks between the companies and dockworkers may have approached an impasse. The last time that happened, it cost the sporting goods industry millions of dollars in higher costs and lost sales...(11/22/2014)
E-Bike Maker ProdecoTech Advances Toward Becoming Publicly Traded
Prodeco Technologies LLC, one of the country's largest e-bike makers, agreed Nov. 20 to be purchased by a penny stock company in a plan its owners hope will lead to a listing on a national stock exchange. The all-stock deal values the company at about $35 million, or around seven times...(11/22/2014)
Foot Locker’s Hot Streak Continues
Led by robust sales across its Jordan portfolio as well as in marquee basketball footwear and lifestyle running product, Foot Locker Inc.’s earnings rose 15.4 percent in the third quarter, to $102 million, or 82 cents a share. On a conference call with analysts, Ken Hicks, the company’s chairman and CEO who plans to retire on Dec. 1, noted that the quarter marked Foot Locker’s 19th consecutive quarter of “meaningful” sales and profit growth...(11/21/2014)
Billabong’s U.S. Business on the Rebound
At its annual meeting last week, Billabong International Ltd. said U.S. sales are returning to growth for its flagship brand, Billabong, and reaccelerating for RVCA. For the Billabong brand, wholesale sales in the U.S. for the fiscal first quarter ended Sept. 30 grew 14 percent. In the fourth quarter ended June 30, wholesale sales in the U.S. were down 13 percent...
Perry Ellis Dismisses Buyout Talk
Perry Ellis International, the parent of several major golf brands and the Nike swim licensee, showed progress in its turnaround efforts, slashing its loss in the third quarter amid continued sluggish sales. But the apparel conglomerate spent much of last week answering calls by at least two of its largest shareholders to consider breaking up...(11/21/2014)
FiveFingers Lawsuit Draws More Than 150,000 Claims
According to court documents, 154,927 claims were received in the class action suit against Vibram USA, representing 279,570 pairs of FiveFingers. The lawsuit, filed two years ago and recently settled, alleged Vibram used unsubstantiated claims about the health benefits of running in its FiveFingers shoes in its marketing...