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StubHub Q2 Revenue Up, But Lack Of Big Events Hurts Gross Sales

Published in SportsBusiness Daily on 07 / 21 / 17

StubHub during its Q2 that ended June 30 generated $236M in revenue, up 5% from the comparable period last year, according to earnings released late Thursday by corporate parent eBay. The company also posted $1B in gross sales, down 5%, as a lighter slate of U.S. events during the spring ate into gr...

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MLS Buys Back Its 25% Stake In Soccer United Marketing

MLS has bought back its 25% stake in Soccer United Marketing that it sold to Providence Equity Partners in '12. Providence paid $125-150M for the stake. MLS had a put option on the stake and had been in negotiations for over a year to execute it ( Daniel Kaplan, Staff Writer ). Sources said that P ...

Tags: Finance, MLS

Nike Cutting 2% Of Its Global Workforce

Nike announced today that it will cut 2% of its global workforce as it "restructures to more quickly get products in the hands of consumers and respond to a rapidly changing consumer landscape," according to Matthew Kish of the PORTLAND BUSINESS JOURNAL. Nike is "adapting to a consumer shift to onli ...

Tags: Finance, Nike

WTC Buys Rock 'N' Roll Marathon Series

Ironman owner World Triathlon Corp. has acquired the Rock ’n’ Roll Marathon series. With the deal, WTC adds 29 annual running events, including seven outside the U.S., to its growing stable of participatory endurance properties. Terms are not known. Spokespersons for Ironman and the Comp ...

Tags: Finance

UA's Plank Addresses Dip In Stock Price

Under Armour Founder, Chair & CEO Kevin Plank yesterday said the company's stock has "not held to the standard that all of us as shareholders have come to expect after 12 years as a public company," according to Lorraine Mirabella of the Baltimore SUN. Addressing about 300 shareholders at UA's B ...

Tags: Finance, Under Armour

Dick's To Scale Back New Store Openings

Dick’s Sporting Goods sales at existing stores fell short of forecasts in Q1, and the chain said that it "plans to scale back new store openings," highlighting the "continuing challenges facing sporting-goods retailers,"   according to Sara Germano of the WALL STREET JOURNAL. Dick's  ...

Tags: Finance, Dicks Sporting Goods

Sports Betting Startup WinView Adds New Backers

Sports betting startup WinView today announced that it has raised $12M in a "new round of financing" with "prominent new backers" including Monumental Sports & Entertainment Chair Ted Leonsis, Discovery Communications, boutique investment bank LionTree and Graham Holdings, according to Michael d ...

Tags: Finance

Adidas Agrees To Sell TaylorMade For $425M

Adidas has "agreed to sell" TaylorMade Golf to a newly formed affiliate of KPS Capital Partners for $425M, according to Dusek & Lusk of GOLFWEEK. About half of that amount "will be paid in cash, while the remaining portion will be paid in the form of a secured note and contingent considerations. ...

Tags: Finance, Adidas, TaylorMade Golf

ESPN Again The Focus Of Disney Financials

Disney reported an 11% jump in profit in Q2, "boosted by several hit films and growth in its theme parks operation," but the company's "closely watched media networks unit, which includes ESPN, had a tough quarter," according to Daniel Miller of the L.A. TIMES. Operating income fell 3% to $2.2B ...

Tags: Finance, Walt Disney, ESPN

NFL, NFLPA, MLB All Purchase Stake In Fanatics

The NFL, NFLPA and MLB have all "purchased equity stakes" online retailer Fanatics, which has "grown to become one of the largest licensees of each league," according to Terry Lefton in this week's SPORTSBUSINESS JOURNAL. Sources said that NFL owners at their meeting in March "authorized the purcha ...

Tags: Finance

Callaway Boosts Forecast After Strong Q1

Callaway Golf’s shares rose more than 6.5% on Friday after the company "posted better earnings and sales" than analysts expected and "raised its full-year forecast," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Callaway cited the "strength from its new Epic driver and Chrome Soft ...

Tags: Finance, Callaway Golf

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