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SGB UPDATE

SGB UPDATE is the only continuously updated source for news for the Sporting Goods, Athletic Footwear, and Athletic Apparel markets.  This archive area is updated by our editorial team throughout the day as news breaks in the industry.  The SGB UPDATE newsletter is delivered each business morning via e-mail in either TEXT or HTML format.

Click any of the archive tabs above for more news by category of interest.

All BASIC subscribers can access posted articles free for seven days from publish date.  Once archived, articles can only be accessed with a PREMIUM or an EXECUTIVE subscription.

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The Latest News...

Foot Locker's Q2 Earnings Soar on 7 Percent Comp Gain
Foot Locker, Inc. reported net income for the company's second quarter ended Aug. 2 jumped 43 percent to $92 million, or 63 cents per share, compared with net income of $66 million, or 44 cents, last year. Second quarter comparable store sales increased 7.0 percent. On an adjusted basis, earnings came in at 64 cents, up from 46 cents, and easily exceeded Wall Street's consensus estimate of 54 cents...(8/22/2014)

Hibbett's Q2 Profits Dip
Hibbett Sports, Inc. reported net income slid 20 percent to $8.4 million, or 32 cents a share, compared with $10.5 million, or 40 cents, a year ago. The company had previously projected earnings would range between 30 cents and 32 cents a share. Comparable store sales increased 0.1 percent...(8/22/2014)

Confluence Outdoor Grows its Sales Team
Confluence Outdoor has hired new sales representatives Andrew Miller and John Jameson to cover the Mid-Atlantic/Northeast and the Gulf Coast regions and promoted longtime sales representative Matt Yablonowski to key account representative in the Central U.S. region...(8/22/2014)

Back-to-School Gets Later Start
Recognizing that a number of the best deals of the summer are still to come, some families have only scratched the surface of their back-to-school shopping lists as of mid-August. According to NRF’s latest Back-to-School/College Surveys, the average family with children in grades K-12 completed just half (49.9 percent) of their shopping by that time, down slightly from last year (52.1 percent)...(8/21/2014)

Crocs Appoints Senior VP of Global Merchandising
Crocs, Inc. announced that footwear industry and product merchant leader Michelle Poole has been appointed as its senior vice president of global merchandising. Prior to joining Crocs, Poole spent five years at Sperry Top-Sider, where she was most recently the company's senior vice president of product...(8/21/2014)

Puma Intends to Acquire Stake in Football Club Borussia Dortmund
Puma said it intends to take a direct stake in Borussia Dortmund KGaA, having sponsored the football club since 2012. By potentially acquiring up to 5 percent of its capital stock through the planned capital increase announced by Borussia Dortmund, Puma seeks to underpin its long-term, strategic partnership and to intensify the cooperation with one of Germany's top clubs...(8/21/2014)

REI Appoints COO and SVP of Merchandising
REI promoted Eric Artz, chief financial officer, to the additional role of chief operating officer, and Susan Viscon, vice president of merchandising, to senior vice president of merchandising. Artz now has oversight for the company's digital retail division. In Viscon's expanded role, the company's merchandising and private brands divisions have been united...(8/21/2014)

Report: Under Armour Offers Mega-Deal to Kevin Durant
According to a report from ESPN.com, Under Armour has offered Kevin Durant, the Oklahoma City Thunder superstar forward, a 10-year endorsement package worth between $265 million and $285 million. The deal also reportedly includes Under Armour stock and incentives such as a community center built in his mother's name...(8/21/2014)



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