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Finish Line's Q4 Profits Top Estimates
The Finish Line reported fourth-quarter earnings topped Wall Street’s targets as better full-price selling at the Finish Line chain, healthy sales at its Macy’s partnership, and robust digital momentum offset below-plan profits at Running Specialty Group. “Our fourth-quarter results, particularly in our core business, represented a solid finish to a disappointing year,” said Glenn Lyon, chairman and CEO, on a conference call with analysts...(3/27/2015)
Lululemon Eyes Larger Stores to Accommodate Men's Business
Lululemon Athletica Inc. will be opening larger stores in select markets to accommodate it growing men's business, which comped up 16 percent in the fiscal fourth quarter executives said during the company's fourth quarter earnings call. The company reported that double-digit comps growth in sales of women's bottoms, Ivivva and men's product fueled a sharp acceleration in total comparable sales...(3/27/2015)
Quiksilver Undergoes Executive Shakeup
Quiksilver, Inc. announced that Pierre Agnes, president of Quiksilver, Inc., has been promoted to CEO. He replaces Andy Mooney, who is no longer with the company...
Shock Doctor Merges with McDavid
In a merger of two of the leading sports protection companies, Shock Doctor Sports and McDavid Inc. jointly announced that they have agreed to merge their companies. Financial details weren't disclosed...(3/27/2015)
Late Deliveries Reduce PacSun Comps in Fiscal First Quarter
Pacific Sunwear of California joined a growing list of companies tempering their first quarter sales and earnings guidance because a backlog of containers at West Coast ports delayed deliveries of key spring products...(3/27/2015)
Adidas Sets Rebound Plan
With a plan built around speeding turnaround, increasing its presence in major cities and customization, Adidas AG revealed a new five-year plan that it projects will lift profits by 15 percent a year through 2020. On the top-line, it expects to outperform the sporting goods industry with group sales growing at a “high-single-digit rate” for each of the next five years, to above €22 billion...(3/26/2015)
Karmaloop Files for Bankruptcy, Seeks Buyer
Karmaloop Inc., one of the leading online sellers of streetwear, filed for Chapter 11 bankruptcy protection and is seeking a buyer. The bankruptcy filing in Delaware listed $10 million to $50 million in assets...(3/26/2015)
Speedo’s Parent Swings to Profit
PVH Corp, the parent of Speedo and Izod, reported fourth-quarter revenues inched 0.8 percent to $2.07 billion but grew 5 percent on currency-neutral (c-n) basis. Said Manny Chirico, chairman and CEO, on a conference call with analysts, “Overall we were quite pleased with our fourth-quarter results which match the top end of our earnings guidance despite."...(3/26/2015)