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  • SBD Article

    Nike Reports Relatively Strong Q2, Concerns About Future Leave Some Investors Cautious

    Published December 19, 2014

    Nike on Thursday for Q2 "reported strong sales growth, but a dip in future orders coupled with underwhelming margin expansion tempered the outlook for the world’s biggest sportswear maker," according to Germano & Stynes of the WALL STREET JOURNAL. Orders of Nike apparel and footwear for delivery from December-April "grew 7%" from the year prior. However, that is "slower" than the 11% growth last quarter. Nike CFO Don Blair: "As long as we don’t see huge moves in the macroeconomics, we believ...

    Tags: Finance, Nike
  • SBJ Article

    20 years old and counting

    Published November 17, 2014 by Don Muret

    ...ay for arena construction and the teams privately financed those projects. the massive $950 million TD Towers project, financed by Delaware North, owner of the Bruins and the a...

    Tags: In-Depth, Finance
  • SBD Article

    TaylorMade CEO Ben Sharpe Talks About His Plan To Reverse Golf Company's Slide

    Published November 12, 2014 by By Robert Gray, Correspondent

    TaylorMade-adidas Golf CEO Ben Sharpe spent his first 100 days in office reevaluating the entire business. He is now about to find out if he used his time wisely. The company has begun releasing its first round of new products under Sharpe’s watch, but he has his work cut out for him as Q3 sales in the unit fell by more than 1/3 from the same period last year and parent adidas blamed golf as a “significant negative headwind” for growth in its latest quarterly earnings release on Nov. 6. In hi...

    Tags: Finance, TaylorMade Golf
  • SBD Article

    Adidas Meets Expectations With Q3 Results, Updates Profit Forecasts For '14

    Published November 06, 2014

    adidas, "struggling to keep pace with larger U.S. rival Nike, reported progress on Wednesday at clearing excess inventories in Russia and in its flagging golf business," according to Emma Thomasson of REUTERS. adidas yesterday confirmed its '14 sales and profit forecasts after reporting Q3 results "at the upper end of analyst expectations." Inventories "were up" 7% on the year at the end of September "on a currency neutral basis," compared with 16% at the end of June. The company, "bolstered ...

    Tags: Adidas, Finance
  • SBD Article

    Analysts: MSG Could Double In Value With Proposed Split Of Company

    Published October 29, 2014

    MSG Co. "could double in value with the proposed split of the company," and it "could be worth" as much as $9.7B after separation, according to analysts cited by Atkinson & Kosman of the N.Y. POST. The company closed yesterday "with a market capitalization" of $5.1B. MSG has been "considering the split -- in large part to unlock the value of its sports teams" -- since Steve Ballmer agreed this summer to buy the Clippers for $2B -- "four times the previous record sales-price for an NBA team." ...

    Tags: Finance, Madison Square Garden
  • SBD Article

    Ticket Outlet ScoreBig Closes On $18M Series D VC Funding Led By Hearst Ventures

    Published October 29, 2014 by Eric Fisher

    Discount ticket outlet ScoreBig has closed on a $18M Series D round of venture capital funding, led by Hearst Ventures. George Kliavkoff, former NBCUniversal and MLBAM exec and current President of Hearst Ventures, will join ScoreBig's BOD. The latest round follows a $10M Series C funding completed 13 months ago that involved Checketts Partners Investment Fund, and brings ScoreBig's total funding to date to $49.5M. The Series D round funds will be focused on mobile product development, market...

    Tags: Finance
  • SBD Article

    MSG Considers Spin-Off Separating Sports, Media Properties From Live Entertainment

    Published October 28, 2014

    Madison Square Garden Co. yesterday announced it will "explore separating its entertainment businesses from its media and sports operations, becoming the latest in a string of companies to look into cleaving themselves in two," according to Beckerman & Benoit of the WALL STREET JOURNAL. The company’s sports and media businesses include the Knicks, NHL Rangers, WNBA Liberty and the MSG Net RSNs. The entertainment business "presents and hosts live events such as concerts." MSG President & CEO T...

    Tags: Finance, Madison Square Garden
  • SBD Article

    Callaway Golf's Q3 Revenue Up Thanks To Lower Operating Costs, Market Share Gains

    Published October 24, 2014

    Callaway Golf reported "higher revenue and a smaller loss" for its FY Q3 than analysts expected, "thanks mostly to market share gains, lower operating costs and foreign currency hedges," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Callaway "posted quarterly sales" of $169M, above the $161M estimate of Wall Street. Sales were 5% "lower than the same quarter last year, but that was because of the timing of new product launches." Callaway lost $1M, or 1 cent per share, in a quarter...

    Tags: Finance, Callaway Golf
  • SBD Article

    Under Armour's Apparel & Footwear Sales Rise By 29% In Latest Quarterly Report

    Published October 23, 2014

    Under Armour said that its apparel and footwear sales "shot up 29% in the latest quarter, helping drive a surge in revenue," according to Erin McCarthy of the WALL STREET JOURNAL. The company "again raised its outlook for sales for the year and now expects revenue" of $3.03B, compared with its prior forecast of $2.98-3B. For the latest quarter, its top line "sharply beat market expectations." UA said that apparel sales grew 26% to $704.6M amid "expanded offerings across training, golf, and ou...

    Tags: Finance, Under Armour
  • SBD Article

    TPG Takes 53% Majority Stake In CAA, Extends Contracts Of Current Execs

    Published October 21, 2014

    Ft. Worth-based investment firm TPG Capital yesterday said that it "had taken a majority stake in Creative Artists Agency, further tying it to the business of representing movie stars and prominent athletes after first buying into the industry powerhouse four years ago," according to Michael de la Merced of the N.Y. TIMES. TPG will now "own over half of CAA," and the move is "the latest sign of the financial world’s continued interest in the agency business." CAA "has long sought to push into...

    Tags: Finance, Creative Artists Agency
  • SBD Article

    Overseas Group Led By Billionaire Low Launching Bid To Buy Reebok From Adidas

    Published October 20, 2014

    A consortium of investors from Hong Kong and Abu Dhabi "is launching a bid to buy Reebok" from adidas in a move that, "if successful, would unwind an eight-year-old marriage of sneaker makers that has shown disappointing results," according to Maureen Farrell of the WALL STREET JOURNAL. Sources said that Jynwel Capital, the "investment arm of the billionaire Low family of Asia, and funds affiliated with the government of Abu Dhabi planned to send a letter to Adidas directors imminently, offer...

    Tags: Reebok, Adidas, Finance
  • SBJ Article

    Barclays Center for sale

    Published October 20, 2014 by Daniel Kaplan

    The Barclays Center is up for sale, with investment bank Evercore Partners expected by next week, sources said, to formally begin selling Forest City Enterprises’ 55 percent stake in the Brooklyn arena. The venue ranks as the most popular arena in the country, based on ticket sales for concerts in the first six months of the year, according to Pollstar. And beginning next year, in addition to the Brooklyn Nets, it will be home to the NHL’s New York Islanders. Indeed, if one of those two tea...

    Tags: Finance
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