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HERMAN'S SPORTING GOODS BACK FROM THE CROSSROADS?
Published March 30, 1995
The current issue of SPORTING GOODS BUSINESS features an interview with four top executives at Herman's Sporting Goods: Senior VP/Store Ops Lee Diercks, Senior VP Michael Worrall, COO Stuart Kessler and CEO Alfred Fasola. Kessler on the company's '94 year-end summary: "We are disappointed with the fact that we did not achieve the plan in the disclosure statement. But we are pleased with the fact that in the past 22 months we have made dramatic improvement." Kessler attributed the shortfall in profits expectations to the NHL lockout and MLB strike and to the unseasonably warm weather in the Northeast which affected their ski business: "I am pleased to say that since hockey has returned, we have gotten a real good hit. The 'Game On' promotion has been very good for us." To compensate, Kessler said Herman's has moved into the NCAA "in a major way": "We still plan a major licensed department, but we are being very cautious as to how we approach the business." As for store expansion, the company has plans for 13 new stores this year. As for an IPO, Fasola said he did not know when one would be in the "offing": "The market has to be right, and our performance has to be right" (SPORTING GOODS BUSINESS, 3/95 issue).