StubHub Sees 32% Revenue Growth For Q3 AlphaDraft To End Paid Contests After Friday Upcoming IPO Will Value Acushnet At $1.7B Fed Reportedly Sees WME-UFC Deal As "Problematic" Providence To Make $425M From Sale Of Learfield Atairos Acquires Learfield For Undisclosed Price Four Final Bids Emerge In Learfield Sale ISC Reports 3% Revenue Increase For Q3 ScoreBig Providing Order Sources Amid Financial Woes Nike Shows Jump In Quarterly Sales
REEBOK SEARCHES FOR THE ANSWER AS STOCK PRICE TUMBLES
Published December 4, 1997
Reebok stock dropped for the second day in a row on Wednesday, as analysts cited "disappointing sales figures" for the company's new basketball sneaker, Allen Iverson's The Answer, according to DOW JONES NEWS SERVICE. Reebok shares fell $1.93 3/4, or 5%, to close at $35.68 3/4, adding to a 6% drop on Tuesday. Reebok Dir of Investor Relations Joanne Parker acknowledged that sales of the Iverson sneaker "were disappointing." Goldman Sachs & Co. analyst Margaret Mager, on Iverson's The Answer: "The product's sales simply haven't met expectations" (DOW JONES NEWS SERVICE, 12/4).