Sporting Goods Industry News for March 07, 2014
Riding the basketball wave and seeing its key strategic initiatives paying off, Big Foot reported net income of $121 million for the final quarter ended Feb. 1, up 16% from the $104 million last year, as revenues rose 5% to $1,791 million from $1,713 million.
Texas A&M quarterback and Heisman Trophy winner Johnny Manziel has reportedly signed a multi-year endorsement deal with the Eager Beavertons, passing up rival bids from Adidas, Under Armour, and Warrior Sports. CEO Mark Parker, when asked about a possible Manziel signing on CNBC yesterday, only said, “He will bring a lot to the professional game.”
The national chain and its Dick’s Sporting Goods Foundation is pledging $25 million in a multi-year commitment to support U.S. athletic programs that includes donations to local sports teams and the launch of the Dick’s Foundation’s “Sports Matter” initiative.
The Taiwanese maker of folding bicycles, which recently announced a new partnership with Ford to develop an extensive line of bicycles with design inspiration from select Ford models, intends to file an IPO on the Taiwan Stock Exchange.
Three AMG directors led by Managing Director Stephen Newlands are acquiring more than a 75% stake in the business with Newlands himself taking 40% of the company.
The finding is from a special report from the non-profit Outdoor Foundation and The Coleman Company. Participants in paddlesports at 19.2 million topped those who kayaked (10.3 mm), canoed (9.8 mm), rafted (3.7 mm) or engaged in stand-up paddling (1.5 mm) in 2012.