Sporting Goods Industry News for March 02, 2015
Timm, a 17-year COLM veteran who has been EVP and COO since Oct. 2008, was elevated to his new role and title as the Portland, OR, company made several strategic organizational changes in the executive suite.
The segment, whose six businesses employ approximately 37,000 and are led by Fruit of the Loom and Russell Athletic, generated $455 million in FY14 pre-tax earnings versus $315 million in FY13.
Net income declined 41% to $2,873,000 from $4,907,000 for the period ended Dec. 31. Final period sales rose 14% to $74,104,000 from $65,259,000, including a 34% increase in sales of powered vehicle products and 2% gain in sales of mountain bike products.
The recreational and military hydration pack company, majority owned by Compass Diversified, had flat operating income of $17.9 million against $17.9 million for the year ended Dec. 31.
Net income for Escalade’s sporting goods segment, now the company’s sole focus following the divestiture of its information security and print finishing business last year, rose 3% in FY14 to $11,394,000 from $11,087,000 for the 12 months ended Dec. 31.
The Three Stripes sourced more than 30% of its cotton in 2014 as Better Cotton, or sustainable cotton, exceeding a planned target of 25%.
Hanesworth, who worked for both the National Sporting Goods Association and Sporting Goods Manufacturers Association, died Feb. 28. He was 89.