"At least one" financial analyst suggested Monday that
the "resurgence" of Converse common stock in recent days was
due "at least in part" to the company's acquisition of
Dennis Rodman as an endorser, according to Jim O'Donnell in
the CHICAGO SUN-TIMES. Smith Barney Chicago's Charlie Munro
said since last Tuesday, when new Converse TV ads began
featuring Rodman, the price of shares of Converse has risen
37% on the NYSE. Munro: "Whether you want to say it's all
Dennis Rodman or part Dennis Rodman, he continues to enjoy
quite a run." Converse's "uptick" on Wall Street has
prompted "at least two major brokerages" -- Smith Barney and
Donaldson, Lufkin & Jenrette -- to raise their rating of the
company to "buy" (CHICAGO SUN-TIMES, 2/18).
DOWN-HILL? Fila will cut distribution of the Grant Hill
4 shoe by 20% as it faces "growing competition in the
basketball segment" of the athletic footwear market. A Fila
spokesperson said that the company scaled back its plans
after it "failed to accurately estimate the market for
earlier versions of the shoe" (DETROIT NEWS, 2/18).
