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  • SBD Article

    Dick's Sporting Goods Beats Q2 Projections, But Struggling Golf Sales Cut Into Profits

    Published August 20, 2014

    Women's and youth apparel "helped drive sales higher at Dick's Sporting Goods" in Q2, although "continued declines in the golf and hunting business cut into profits," according to Chris Fleisher of the PITTSBURGH TRIBUNE-REVIEW. Sales at its Golf Galaxy stores fell 9.3%, and the company "recorded pre-tax charges" of $20.4M from "restructuring its golf business." That included a $3.7M "severance charge related to laying off golf professionals at its Dick's stores." Dick's Chair & CEO Edward St...

    Tags: Finance, Dicks Sporting Goods
  • SBD Article

    ClubCorp Expands Portfolio Of Golf Courses By 45% With Deal For Sequoia Golf Holdings

    Published August 14, 2014

    ClubCorp Holdings yesterday said that it will "buy smaller competitor Sequoia Golf Holdings" for $265M in a deal that will "expand ClubCorp's portfolio of golf and country clubs by roughly 45%," according to Sara Germano of the WALL STREET JOURNAL. ClubCorp, which "went public in September, has an existing stable of 159 membership clubs, including 108 golf and country clubs." The acquisition will "add 43 private and six public golf and country clubs, as well as one sports club." Execs from bo...

    Tags: Golf, Finance
  • SBD Article

    Disney Posts Record Q3 Results Despite ESPN's Higher Costs, Lower Subscriber Base

    Published August 06, 2014

    Skyrocketing sports-rights costs "caught up to ESPN last quarter, providing a setback in an otherwise stellar quarter for Walt Disney Co.," according to Ben Fritz of the WALL STREET JOURNAL. Hit by "a combination of higher costs" for MLB and the FIFA World Cup, as well as "a shrinking subscriber base for ESPN and certain timing issues, operating income at Disney's cable networks group fell" 7% to $1.9B during the quarter ended June 28. It was the "only one of the company's business units not ...

    Tags: Finance, ESPN
  • SBD Article

    Churchill Downs Inc. Earns Record Quarterly Revenue, Sees Growth In All Segments

    Published August 01, 2014

    Churchill Downs Inc. posted Q2 net income of $57.3M on "record quarterly revenue" of $303.7M, according to Matt Hegarty of DAILY RACING FORM. All of CDI's major business segments "experienced growth" in the quarter, with racing revenue from its four tracks "up slightly" by 1%. Revenue from CDI's casinos were up 23% and revenue from the company's "mostly racing-related online business" was up 9%. Racing revenue during the quarter was $159.4M, a figure that "includes revenue" from the Kentucky ...

    Tags: Finance, Churchill Downs Inc.
  • SBD Article

    Adidas Lowers Projections For FY '14, Postpones FY '15 Targets After Q2 Drop

    Published July 31, 2014

    Shares in adidas "tumbled" today after the FIFA Global Partner cut its '14 outlook and postponed '15 targets, "citing risks surrounding Russia and challenges at its golf business," according to Monica Houston-Waesch of the WALL STREET JOURNAL. adidas' Q2 profit fell to $192.7M (all figures U.S.) from the $230.2M reported a year earlier, while sales "rose 2%" to $4.6B. The company "cut its forecast for net profit" in '14 to around $864M from a previous forecast of $1.1-1.2B. adidas also said t...

    Tags: Finance, Adidas
  • SBD Article

    Anheuser-Busch Credits World Cup For Helping Boost Profits During Second Quarter

    Published July 31, 2014

    A surge of beer-drinking during the FIFA World Cup "boosted profits" at A-B InBev during Q2, "leaving the group optimistic about future sales after showcasing its brands to billions of people," according to Matthew Dalton of the WALL STREET JOURNAL. The company yesterday said that Q2 revenue rose 5% to $12.2B "after adjusting for special items, reflecting World Cup-related sales in June and the brewer's strategy to sell more upmarket beer." Sales in Brazil, which is A-B's second-largest marke...

    Tags: Finance, Anheuser Busch
  • SBD Article

    SMI Sees Slight Revenue Drop In Q2 But Growth In Track Rentals, Suite Revenue

    Published July 30, 2014 by Tripp Mickle

    Speedway Motorsports Inc. blamed bad weather at two races and a weak economy for a slight decline in revenue during Q2. The company reported revenue for the quarter of $175.9M, down from $176.8M for the same period last year. Revenue for the first half of the year was $260.4M, down from $261M in '13. SMI COO Marcus Smith said that the company has seen increases in track rentals and suite, hospitality and camping revenue, but those gains were offset by "poor weather," which affected NASCAR rac...

    Tags: Finance, Speedway Motorsports Inc.
  • SBD Article

    Under Armour's Sales Up 34% In Q2 '14 On Back Of Strong Footwear, Apparel Sales

    Published July 24, 2014

    Under Armour today said that its Q2 '14 profits "remained unchanged, meeting analysts' expectations, while sales soared" 34%, according to Lorraine Mirabella of the Baltimore SUN. UA added that its net income of $18M "remained flat, reflecting previously planned marketing and brand innovation expenses." Net revenue increased to $610M "in the three months that ended June 30," compared with $455M in Q2 '13. Apparel sales jumped 35% to $420M, compared with $310M "in the year-earlier period as th...

    Tags: Under Armour, Finance
  • SBD Article

    Carmelo Anthony Starts VC Fund M7 Tech Partners With Bertelsmann's Stuart Goldfarb

    Published July 21, 2014

    Knicks F Carmelo Anthony is "starting a venture capital firm," as he and longtime Bertelsmann Direct North America CEO Stuart Goldfarb "are launching their new investment firm, M7 Tech Partners, with an inaugural investment in the children’s media company Hullabalu," according to Jonathan Shieber of TECH CRUNCH. Anthony "is hoping to leverage a social media presence of over 5 million followers and his Melo brand into success in tech investment." The N.Y.-based firm "will invest in early stage...

    Tags: New York Knicks, NBA, Finance
  • SBJ Article

    TV money up 20 percent for NFL clubs

    Published July 21, 2014 by Daniel Kaplan

    Editor’s note: This story is revised from the print edition. Each NFL team will get a 20 percent increase in national television money this year compared with 2013 — up $27 million — as a result of the new TV contracts that commence next month, according to sources who have seen the internal figures. Over the following two seasons, the increases will total an additional $23 million per club, at a minimum. That means by 2016, each NFL team will bring in at least $181 million from national TV...

    Each NFL team will get a 20 percent increase in national television money this year compared with 2013 — up $27 million — as a result of the new TV contracts that commence next month.

    Tags: Finance
  • SBJ Article

    Future bodes well for Packers’ income

    Published July 14, 2014 by Daniel Kaplan

    Signing bonuses boosted the team’s player costs. Photo by: GETTY IMAGES The Green Bay Packers last week reported $25.3 million of net income for the fiscal year ended March 31, but when it comes time for the club to make its earnings report at this time next year, that figure will likely double. According to team officials, because of the timing of when the team signed free agent contracts, four...

    Tags: Finance
  • SBD Article

    Games Without Frontiers: ESPN Provides More Than 50% Of Disney's Operating Profit

    Published July 09, 2014

    Many people talk about ESPN being the "crown jewel in the Disney empire," and its financials "speak to that," according to Jon Erlichman of Bloomberg TV. When observers "look at the cable network's business for Disney, which is largely fueled by ESPN," it is "about a third of the company's overall revenue." But it is more than 50% of the "operating profit." So "a lot of the company's profitability power indeed comes from ESPN," through advertising and "what they're able to charge" the cable a...

    Tags: Finance, ESPN
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