Reebok Int'l said that first-quarter net income
"declined" 17% to $40.2M from $48.4M a year ago, "reflecting
start-up costs of new high-tech shoes and the strong U.S.
dollar," according to the WALL STREET JOURNAL. But sales
rose 3% to $390M, "partly due to improvements in Reebok's
U.S. footwear business" (WALL STREET JOURNAL, 4/18).
NEED YOUR OATES: Caps C Adam Oates is "about to sign a
three-year endorsement contract with Reebok, becoming the
company's first official NHL spokesperson, according to a
report in the WASHINGTON POST. Reebok's Kent Richard said
that Oates "mostly will be involved with cross-training and
general fitness campaigns" (WASHINGTON POST, 4/18).
CONVERSE GAINS: Converse announced net sales for the
first quarter of $136.0M, compared to $86.6M in the first
quarter of '96, an increase of 57%. Earnings from
operations were $12.3M, compared to $0.2M in the same period
of '96. Net income for the first quarter of '97, excluding
a one-time gain, was $4.7M, or $.26 a share, compared to a
net loss of $3.3M, or $0.20 per share in the first quarter
of '96 (Converse).
