Sporting Goods Industry News for July 28, 2014
SWHC’s approximate $2 million settlement with the Securities and Exchange Commission is related to a 2010 inquiry that stems from a Dept. of Justice investigation into the Springfield, MA, company that was later dropped by the DOJ. Smith & Wesson, which accrued the expense for the settlement in its Q4 ended Apr. 30, consented to the SEC settlement without admitting or denying the findings of the inquiry.
The Eager Beavertons spent $3,031 million on demand creation, which includes all advertising and promotional expenses and cost of endorsement contracts, in the recently completed FY ended May 31 versus $2,745 million last year when demand creation costs were up 5% on the Fuelband and NFL launches.
Members of The American Apparel and Footwear Association are on Capitol Hill this week with more two dozen executives from the retail, footwear and apparel industries to lobby Congress to pass a number of key international trade policies and programs.
U.S. golf rounds declined 1.2% in June in the sixth-wettest June in 120 years, according the monthly PGA PerformanceTrak.
Shuipan Lin, chairman of the Chinese company that markets the XIDELONG market, still hasn’t secured the necessary financing needed for a merger with Pan Long Company, a firm controlled by him.