HERMAN'S SPORTING GOODS BACK FROM THE CROSSROADS?
The current issue of SPORTING GOODS BUSINESS features an
interview with four top executives at Herman's Sporting Goods:
Senior VP/Store Ops Lee Diercks, Senior VP Michael Worrall, COO
Stuart Kessler and CEO Alfred Fasola. Kessler on the company's
'94 year-end summary: "We are disappointed with the fact that we
did not achieve the plan in the disclosure statement. But we are
pleased with the fact that in the past 22 months we have made
dramatic improvement." Kessler attributed the shortfall in
profits expectations to the NHL lockout and MLB strike and to the
unseasonably warm weather in the Northeast which affected their
ski business: "I am pleased to say that since hockey has
returned, we have gotten a real good hit. The 'Game On'
promotion has been very good for us." To compensate, Kessler
said Herman's has moved into the NCAA "in a major way": "We
still plan a major licensed department, but we are being very
cautious as to how we approach the business." As for store
expansion, the company has plans for 13 new stores this year. As
for an IPO, Fasola said he did not know when one would be in the
"offing": "The market has to be right, and our performance has
to be right" (SPORTING GOODS BUSINESS, 3/95 issue).