SBD/12/Finance

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  • FOOTWEAR INDUSTRY'S FOURTH-QUARTER HIT; CFO LEAVES NIKE

              The athletic-footwear industry "is expected to report
         lackluster fourth-quarter results, reflecting a continuing
         swing away from the traditional athletic look to other
         casual styles," according to Joseph Pereira of the WALL
         STREET JOURNAL.  The "fashion shift could mean at least six
         more months, and possibly up to a year, of sluggishness as
         retailers clear out inventories before resuming the
         aggressive buying that marked the year-ago period." 
         Sporting Goods Intelligence estimates that '97 U.S. footwear
         sales "climbed less than" 3% to $7.7B.  Pereira adds that
         one alternative brand "cashing in" on the fashion switch is
         Vans Inc., while adidas AG "is expected to reverse a year-
         earlier loss" (WALL STREET JOURNAL, 1/12).
              NIKE CFO OUT: Nike CFO Robert Falcone resigned last
         week to "pursue other opportunities," according to a REUTERS
         report.  Nike named controller Robert Harold as interim CFO
         and accounting officer, pending the selection of a permanent
         successor to Falcone.  Nike's recent second-quarter earnings
         report "fell well short of Wall Street expectations,"
         leading some analysts "to question whether Falcone had been
         pressured to leave" (REUTERS, 1/10). 
              QUARTER LOSS: FL-based The Sports Authority said it
         expects fourth-quarter earnings to be "about" $0.35 a share,
         compared to $0.50 a share the previous year, due to "slow
         holiday sales and the cost of store closings," according to
         the MIAMI HERALD.  Fourth-quarter sales are expected to be
         about $422M, with comparable store sales about 3.5% lower
         than the same period last year (MIAMI HERALD, 1/10).  TSA
         Chair/CEO Jack Smith said "several key sporting goods
         segments such as fitness, licensed products and footwear
         were especially weak" (WALL STREET JOURNAL, 1/12).
    
    

    Print | Tags: Finance, Nike, The Sports Authority, Washington Nationals
  • SPORTSLINE USA REPORTS RECORDS IN WEB TRAFFIC AND 4Q REVENUE

              SportsLine USA announced record revenue and site
         traffic for the fourth quarter ended December 31, '97. 
         Quarterly revenue increased to $4.4M, up 250% from the $1.3M
         in '96's same quarter.  Traffic on SportsLine's Web sites
         grew 250%, averaging 2.8 million page views daily in '97, as
         compared to 800,000 daily in '96.  SportsLine's net loss for
         the quarter was $7.2M, or $0.42 per share, compared to
         $4.2M, or $0.45 per share in the '96 quarter (SportsLine).
    
    
    
    
    

    Print | Tags: Finance
  • TOPPS HITS BOTTOM? CARD COMPANY REPORTS QUARTER LOSS

              Topps Co. reported a net loss for the third quarter,
         ended November 29, of $8.5M, or $0.18 a share, compared with
         a net loss of $18.5M, or $0.39 per share, a year-earlier.
         For the nine months ended November 29, Topps reported a net
         loss of $9.5M, compared with a net loss of $13.5M for the
         year-earlier period (CRAIN'S N.Y. BUSINESS, 1/5 issue).  In
         N.Y., Bill Madden added Topps "eliminated 30 jobs, including
         its PR operation, headed by former Yankee publicist and TV
         producer Marty Appel" (N.Y. DAILY NEWS, 1/11).
    
    

    Print | Tags: Finance
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