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Finish Line Reports Dip In Q4 Earnings Despite Uptick In Revenue

Published in SportsBusiness Daily on 03 / 27 / 15

Finish Line reported a decline in Q4 earnings and "warned that profits in the current year may miss expectations," as the sports-apparel retailer has "struggled lately in a retail environment dogged by more promotions and lower mall traffic." The company's earnings fell 5% to $40.8M despite revenues...

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Second Round Of Bids For IMG Were Due Thursday

The second round of bids to buy IMG were due Thursday, according to sources familiar with the company’s sales plan. A total of 10 prospective buyers sat through IMG management presentations in the last month, but it is unclear how many of the interested buyers submitted bids Thursday. Among th ...

Tags: Finance, IMG

Adidas' Q3 Operating Profit, Sales Drop

adidas today said that Q3 operating profit dropped 6% and sales fell 7%, "hit by distribution problems in Russia, currency effects and poor sales of golfing products," according to Victoria Bryan of REUTERS. Results during Q3 last year were "boosted by the Olympics and the European soccer championsh ...

Tags: Adidas, Finance

21st Century Fox Revenues Exceed Forecasts

21st Century Fox’ Q3 profits saw "a drag" from investments in new cable channels, but total revenues "still surpassed analysts’ expectations," according to Brian Stelter of the N.Y. TIMES. Fox yesterday reported that in its first three months as a separate company, its revenues totaled $ ...

Tags: Finance, Fox

SMI Sees Ticket Sales Decrease In Q3

Weak economic conditions and poor weather contributed to decreases in Q3 ticket revenue at Speedway Motorsports Inc. The company reported total revenue of $137.5M for the quarter, a 3% decrease from the $142.3M it reported for the same period last year. Ticket revenue totaled $32.9M for the quarter, ...

Tags: Finance, Speedway Motorsports Inc.

Chime Communications Buys JMI For $76M

London-based Chime Communications Friday announced a $76M acquisition of Just Marketing Int'l, the Indianapolis-based motorsports marketing agency. The deal is the largest sports-related acquisition Chime has made since creating a sports subsidiary, CSM Sports & Entertainment, in '07. JMI is CSM ...

Tags: Finance

Foster Injury Comes At Bad Time For Fantex

Texans RB Arian Foster aggravated a hamstring injury in Sunday's game against the Chiefs, and his "latest health concern was exactly the type of bad news" S.F.-based sports technology startup Fantex "had hoped to avoid" when it announced its IPO plans for Foster last Thursday , according to Peter L ...

Tags: Finance

Fantex Files For IPO For Arian Foster Stock

S.F.-based sports technology startup Fantex this morning filed an S-1 with the SEC to conduct an IPO. The company has struck a deal with Texans RB Arian Foster in which it will pay Foster $10M for a 20% interest in his future brand income, defined as his future football-related earnings on and off ...

Tags: Finance

WPP Will Not Bid On IMG

Agency WPP has ruled itself out of the running for IMG, believing its rumored $2.5B price tag is too high to justify a bid. WPP CEO Martin Sorrell, speaking at Thursday’s Leaders in Football conference in London said, "We would love to own IMG.” But he added, "We can’t afford it." ...

Tags: Finance, IMG

Nike Expects Revenue Of $36B By '17

Nike CEO Mark Parker's revenue forecast of $30B by FY '15 and $36B by FY '17 was the "top announcement among several key predictions made" yesterday during the company's Investor Day, according to Allan Brettman of the Portland OREGONIAN. Nike VP & GM of Global Basketball Craig Zanon said that w ...

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IMG Bidders Down To 10

Bankers for IMG have "cut to 10 the list of suitors" for the talent agency, according to Atkinson & Kosman of the N.Y. POST. Sources said that IMG, set to sell for around $2B, "initially attracted about two dozen bidders ... before the list was cut for a second round." Those "crossing the first ...

Tags: Finance, IMG

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