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StubHub Sees 32% Revenue Growth For Q3, But Warns Of Lower Numbers In Q4

Published in SportsBusiness Daily on 10 / 20 / 16

StubHub during its Q3 that ended Sept. 30 generated $263M in revenue, up 32% from the comparable period last year, and $1.1B in gross sales, up 23%, according to earnings released late yesterday by corporate parent eBay. Baseball was credited for the growth at the ticket resale marketplace, along wi...

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Sports Authority Cuts Around 100 Jobs

Sports Authority last week "cut about 100 jobs" -- most at company HQ -- as the sporting goods chan continues "struggling to avoid bankruptcy," according to Alicia Walker of the DENVER POST. The cuts at HQ include 16 people "in the team sales division." An e-mailed company statement said that the cu ...

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Connected Fitness Helps Under Armour Stock

Under Armour's strong Q4 results  sent the stock price up 22.6% per share on Thursday, gains that came despite a “sell” placed on the stock by a Morgan Stanley analyst before the quarterly report that “scared the Dickens out of everyone,” according to CNB ...

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Under Armour Sees 20% Profit Jump In Q4

Under Armour today announced Q4 earnings were up 20% due to an "increase in footwear sales," and the results sent shares in the company "surging after quieting investor fears about a slowdown amid warm weather around the holiday season," according to Ryan Sharrow of the BALTIMORE BUSINESS JOURN ...

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E-Sports Startup FaceIt Raises $15M

FaceIt, a U.K.-based e-sports startup that runs an online multiplayer game platform, has raised $15M in venture-capital funding and is "eyeing U.S. expansion," according to Todd Spangler of VARIETY. The Series A funding, from investment firms Anthos Capital, Index Ventures and United Ventures, comes ...

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Ironman Acquires Lagardère S&E's Endurance Unit

Tampa-based triathlon operator Ironman is "invading the market for bike races," and today announced the acquisition of the endurance-athletics arm of Lagardère Sports & Entertainment, according to Kevin Helliker of the WALL STREET JOURNAL. The Hamburg-based division operate ...

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Infront Acquires Controlling Interest In Omnigon

Switzerland-based marketing company Infront Sports & Media has struck a deal to acquire a controlling 51% equity interest in digital media consultancy Omnigon, expanding on a strategic partnership announced in October . The deal calls for Omnigon to function in part as a North American unit of ...

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Gilbert, WPP Start Courtside Ventures Fund

Cavaliers Owner Dan Gilbert and ad agency WPP have combined to contribute $35M "into a new investment fund they’re calling Courtside Ventures," according to Michael Smith of SPORTSBUSINESS JOURNAL. The venture capital fund will "work with Bruin Sports Capital in a partnership to invest in earl ...

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Nike Expects Continued Growth

Nike on Tuesday posted sales figures for Q2 '16, and the company said that it "expects continued growth the remainder of the fiscal year" after the quarter which ended Nov. 30 had sales up 4% from the same period a year ago, to $7.7B, according to Allan Brettman of the Portland OREGONIAN. Profi ...

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Disney Sees Sharp Decline In Shares

Shares of Disney "dropped the most in three months Friday" after the company reported that ESPN "lost 3 million subscribers in a year, reviving concerns about shrinking demand for traditional pay-TV packages and dragging down U.S. media stocks," according to Cecile Daurat of BLOOMBERG NEWS. A filing ...

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Warriors Ownership Invests In Apparel Brand

California-based smart fitness apparel company Athos yesterday raised $35.5M "from a bunch of investors," including Warriors co-Owner Joe Lacob and team investor Chamath Palihapitiya, according to Kurt Wagner of RE/CODE. Athos "offers workout shirts and pants laced with sensors t ...

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