Daily News Feed
Newell Brands Sells Winter Sports Biz to Kohlberg
The private equity firm will take over Völkl, K2, Marker, Dalbello and several other winter brands from the collection that was put together by former K2 CEO and serial acquirer Dick Heckmann.
An International Trade Commission administrative law judge found in favor of Navico in the enforcement proceeding it brought against Garmin over DownVü sonar products.
The acquisitive British retailer bought another few million FINL shares in the past week, expanding its holding to 5,941,248 shares, or 14.7% of the company.
Genesco Cuts Forecast on Weak Q1, Slower Than Expected Turnaround
Net income declined 91% to $885,000 from $10,410,000 on a 1% decline in sales to $643,368,000 from $648,793,000 with overall comps down 1% as a 28% increase in digital sales failed to offset a 4% decline in brick-and-mortar for the three months ended Apr. 29.
With the purchase of the Snowsports Industries America show for a reported $16.7 million, Emerald is apparently willing to leave Salt Lake City a year before its contract expires at the end of 2018, suggesting that the original contract had some kind of exit clause that Emerald was willing to swallow in order to combine the shows in Denver.
Net income fell 16% to $14,902,000 from $17,782,000 for the quarter ended Apr. 29 on an 8% increase in sales to $631,509,000 from $584,733,000, with Famous Footwear showing a 1% increase in sales to $366,494,000 from $364,596,000 on a 0.6% decline in comps, including a 25.7% increase in digital.
Net loss was halved to $11,994,000 from a loss of $22,883,000 in the final fiscal quarter ended Mar. 31 on improved margins and less discounting, on sales that declined 2% to $369,465,000 from $378,635,000.
Adrian Smith (R-NE) and Earl Blumenauer (D-OR) are co-sponsoring a bill that would allow duty-free access to the U.S. market for certain outdoor footwear products from more than 100 developing nations.
CWH priced the offering of its Class A common stock at $27.75 per share, and reduced the overall number of shares being offered to 9,500,000.
These are in addition to the 389 stores that are being liquidated as part of the initial request for store closing in the Payless bankruptcy case in Eastern District of MO.
The Huron Capital-owned hunting and shooting accessories company acquired Scent Web from A-Way Hunting Products, and also acquired Eugene, OR-based Bullseye Camera Systems.
Shoe Carnival Results Down in Q1
As expected, SCVL reported a 10% decline in net income to $16,818,000 against $18,780,000 for the 13 weeks ended Apr. 29 on a 3% dip in sales to $253,389,000 compared to $260,470,000 as the delayed tax refunds in Feb. crippled the quarter despite comp store increases in the mid-single digit range in Mar. and Apr.
Riding the shift of Easter into the month, sneaker sales rose 7% overall to $1,277.8 million from $1,191.1 million on a 7% increase in units and a flat ASP, according to NPD Group.
With Adidas also in the bidding for the N.Y. Giants star receiver, Nike will reportedly pay more than $29 million over five years, the most ever for an NFL player’s shoe deal.
Same store sales at the Chinese footwear and apparel brand gained 7.0% while its 361° Kids segment gained 7.4%. Turns in both channels are running at 4.2 times.