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Dick's Sporting Goods Shares Fall Sharply After Company Lowers '17 Projection

Published in SportsBusiness Daily on 08 / 15 / 17

Dick's Sporting Goods shares this morning "plummeted" after the sporting goods retailer "missed Wall Street expectations" and lowered its '17 outlook, according to Cheddar Berk & Thomas of CNBC.com. Dick's "hoped to benefit from rivals' bankruptcies, including those of City Sports and Sports Aut...

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Tags: Finance, Dicks Sporting Goods

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21st Century Fox Cable Networks Lift Revenues

Higher fees for the Fox News, FX and sports cable networks "lifted revenues" for 21st Century Fox and "helped offset weak performances from the Fox Broadcasting and film units," according to Maria Armental of the WALL STREET JOURNAL. Fox "reported a 10% gain in the fees pay-TV distributors pay to ca ...

Tags: Fox, Finance

Fanatics Getting $1B From SoftBank Group

Japan-based SoftBank Group and its Vision Fund are closing a $1B investment in online retailer Fanatics, "part of a sizable bet" that Fanatics' licensing agreements with the NFL and other entities "give it the power to compete" with Amazon, according to sources cited by Mickle & Hoffman of the W ...

Tags: Finance

Callaway Posts Better Q2 Financial Results

Callaway Golf’s shares surged 8% on Friday after the company "posted better than expected financial results and said it is buying apparel brand TravisMathew," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Callaway will pay $125.5M for the Huntington Beach-based clothing outfit ...

Tags: Finance, Callaway Golf

Home Team Marketing Gets $5M Investment

A partnership started last year between Cleveland-based Home Team Marketing and ticketing firm Eventbrite "worked so well that the groups are extending it," and that extension has helped HTM secure a $5M investment from affiliate of asset management firm Lyrical Partners, according to Kevin Kleps of ...

Tags: Finance

WME-IMG Gets Momentum With New Investment

WME-IMG has given itself "plenty of additional fuel" with a recent $1.1B investment, but the additional funds "may also mean the big-spending agency needed some more financial support," according to Preesberg & Burch of THE WRAP. WME-IMG said that the move is "all about growth." But Va ...

Tags: Finance

WME-IMG To Receive $1.1B Investment

WME-IMG is about to receive a $1.1B investment "led by a Canadian pension fund and a Singaporean sovereign wealth fund" that would value the agency at $6.3B, an increase from $5.5B in '16, according to Gene Maddaus of VARIETY. Silver Lake Partners, the private equity firm that owns a majority s ...

Tags: Finance, William Morris Endeavor, IMG, UFC

Under Armour Restructuring To Be Expensive

The restructuring plan Under Armour Founder, Chair & CEO Kevin Plank outlined yesterday is "going to come at a huge cost" -- potentially up to $130M -- and "didn’t impress investors" on Wall Street, according to Evan Clark of WOMEN'S WEAR DAILY. Despite Plank saying UA will get "str ...

Tags: Under Armour, Finance

Dodgers, David Stern Invest In Tech Firm Keemotion

Sports tech outfit Keemotion has secured $3.6M in Series A financing, with the round supported by several groups and individuals, including Dodgers' ownership, R/GA Ventures and former NBA Commissioner David Stern. Keemotion's technology allow ...

Tags: Finance

MSG Invests In Esports Teame Counter Logic Gaming

MSG Co. yesterday confirmed its "acquisition of a controlling stake" in esports team Counter Logic Gaming, marking the company's first competitive gaming investment and "signalling a diversification in their portfolio of partnerships," according to Ellis Hyman of ESPORTS OBSERVER. CLG is curren ...

Tags: Madison Square Garden, Finance

Under Armour Rolls Out Restructuring Plan

Under Armour "posted a better-than-expected quarterly loss and announced a sweeping restructuring plan" today as the brand "continues to struggle in a competitive market," according to Lorraine Mirabella of the Baltimore SUN. The company reported a net loss of $12M for the three months that end ...

Tags: Finance, Under Armour

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