MJ's Son Partners With Tech Startup WaitTime Nike Posts Solid Q3 Amid Adidas Resurgence GoPro To Cut 270 Full-Time Jobs Dodgers Owner Leads $100M DraftKings Investment Adidas' CCM Hockey Brand Up For Sale Again Dick's Ed Stack Outlines Plan To Grow Market Share SMI's Total Revenue For FY '16 Up 3% Churchill Downs Inc. Net Income Of $108.1M In '16 Sources: Adidas Struggles With TaylorMade Sale Minute Media Closes On $15M Investment Round
REEBOK'S FIRST QUARTER PROFITS FALL 49 PERCENT
Published April 23, 1998
Reebok Int'l said Wednesday that its first-quarter profit fell 49% and company officials "predicted another tough quarter ahead with no improvement expected until autumn at the earliest," according to Gregg Krupa of the BOSTON GLOBE. Net income fell from $40.2M, or $0.69 per share, in 1Q '97 to $20.3M, or $0.36 per share in 1Q '98. Net sales were down from $930M in 1Q '97 to $880.1M. Krupa writes that Reebok's performance was "about what analysts had expected." Reebok Exec VP Operations & Finance Kenneth Watchmaker: "We're not writing off 1998, but we are realistic about our position." Reebok stock closed yesterday at 31 9/16 per share, down 7/8 (BOSTON GLOBE, 4/23).