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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
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Nike Shares Slide on Weaker Backlog, Outlook
Nike Inc. posted flat currency-neutral revenue growth for the second fiscal quarter and net income was up in low-single digits when excluding one-time charges associated with staff reductions and other expense-cutting measures, but a diminished backlog portfolio and a dampened outlook sent investors and some analysts for the door as NKE shares fell more than 10% last week. Total reported Nike, Inc. revenues slid 7.4% to $4.71 billion in the fourth quarter ended May 31...(6/29/2009)
The Finish Line Feels the Pain of Year-Ago Comps; Traffic a Challenge in Q1
Finish Line Inc. posted a small loss in its first quarter ended May 1 due to a pre-tax loss of $3.9 million from its Man Alive division, which is in the process of being divested (see page 6), but weak traffic remains a drag on its core Finish Line business...(6/29/2009)
Yue Yuen Sees Athletic Footwear Shipments Decline in Fiscal Second Quarter
Yue Yuen Industrial Ltd., the China manufacturing giant that makes footwear for many key athletic brands, reported net income declined 2.05% to $108.5 million in the second fiscal quarter, compared to $110.7 million a year ago. For the period ended March 31, athletic footwear sales, which make up 54.4% of the business, fell 3.4% to $645.5 million. In an unusual showing, Sport Sandals, which only makes up 2.4% of sales, jumped 66.9% to $28.2 million...(6/29/2009)
Smith & Wesson Sees Fourth Quarter Top Line up 20% on M&P Strength
Smith & Wesson Holding Corporation said net sales for the fourth quarter ended April 30 were $99.5 million, a 19.8% increase from sales of $83.1 million in the year-ago period. Management for the legendary gun-maker said strong sales of M&P (military and police) pistols and tactical rifles boosted sales...(6/29/2009)
Sport Chalet Posts Wider Fiscal Q4 Loss
Sport Chalet, Inc. saw shares jump 55% last week even as the Southern California-based retailer posted a much wider loss and sharply lower comparable store sales for its fourth fiscal quarter ended March 29. Sales declined 12.7% to $84.5 million in Q4 from $96.8 million in the prior year period. Same-store sales tumbled 17.7% for the period...(6/29/2009)
Sport Supply Group Acquires Webster's Team Sports
Sport Supply Group, Inc. acquired substantially all the assets of Webster's Team Sports of Pompano Beach, FL, as part of a goal to "dominate team sports distribution in the state of Florida." Terms were not disclosed but Sport Supply Group did not assume any liabilities in the transaction...(6/29/2009)
The Finish Line Exits Man Alive; Jimmy Jazz Affiliate Paid to Assume Business
The Finish Line Inc. last week threw in the towel on its long underperforming Man Alive chain. The company agreed to pay $7 million in cash to Man Alive Acquisition LLC, which is controlled by Jimmy Jazz stores owner and operator Jimmy Khezrie, to assume certain Man Alive assets and liabilities...(6/29/2009)
Nike, NBA Hall of Fame Sued Over Michael Jordan Hall of Fame Line
A Massachusetts sportswear company is suing Nike, Inc. and the NBA Hall of Fame, claiming breach of contract and fraud related to the sale of sportswear linked to Michael Jordan's upcoming induction into the Hall...(6/29/2009)
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