Reebok Rolling Out New Fitness Campaign WWE's Stock Shoots Up After OTT Announcement WME-IMG Acquires eSports Agency UFC's Conor McGregor Inks Deal With Reebok FanDuel Quadruples Revenue Generated Whistle Sports Closes Latest Round Of Financing Acushnet Could Go Public By '16 Reebok Stands Behind Jones After Positive Test WPP Invests $250M Into Bruin Sports Capital NeuLion Agrees To Buy Streaming Outfit DivX
Upcoming Conferences and Events
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).