Daily News Feed
Perry Ellis to Go Private in $437 Million Transaction
The all-cash deal will offer all the public shareholders $27.50 per share, a premium of 22% over the stock price before the announcement of the tender offer by the Feldenkreis family.
The combination creates a sneaker chain that has sales of over $5 billion globally and a clear rival to Foot Locker, whose global sales last year were $7.8 billion.
An independent research firm, GMT Research in Hong Kong, issued a report that said that Anta’s profitability was so good that it must be using accounting gimmicks to prop up its numbers.
The bankruptcy court approved Sheikh Shoes’ motion to confirm its plan to exit Ch. 11 reorganization and discharged the case effective today.
Returning to the Japanese-owned company as president and CEO, he’ll be tasked with managing the core golf ball business in competition with Titleist and surging Callaway, while also growing club share.
The former NBA star, who lent his nickname to the iconic Puma Clyde sneaker that he wore in the ‘70s playing for the New York Knicks, will get a lifetime deal from the Big Cat, which also released 73 pairs of special edition Clydes at its Hoops HQ store in Brooklyn.
The North Face, Timberland, Vans and Reef are suing 831 online sellers who are listing counterfeit products for sale on their websites, most of which use some variation of the trademarked brands as their URLs.
The Eager Beavertons’ upcoming collection with streetwear retailer and brand Undefeated was derailed when the US Naval Academy noticed that a crest on the apparel closely resembled its own logo.
Retail Compensation Essentially Flat In 2017
The 67 highest paid executives at public sporting goods retailers saw their total compensation decline 1% for 2017 to an average for those with comparable earnings in both years of $1,957,151 against $1,992,703 the prior year.
The luxury outerwear maker swung to a profit of C$6,632,000 ($5.2 mm) against a loss of C$23,312,000 in the seasonally small fiscal Q4 ended Mar. 31, on revenues that more than doubled to C$124,821,000 ($98.7 mm) from C$51,096,000.
The Administration said today it will go ahead with $50 billion in tariffs as soon as Jul. 6 on a shortened list of 800-900 Chinese products with tariffs on another few hundred to be imposed later after a public comment period.
The Big Cat is said to be near signing two NBA draft picks, Deandre Ayton from Arizona and Marvin Bagley from Duke.
Peter Cuneo, executive chairman of the board, will become the interim CEO of the compnay for the second time, replacing John Haugh, who has resigned effective immediately.
CrossFit, which awarded Reebok an exclusive license in 2010, says the Adidas-owned brand surreptitiously began paying royalties based on a fictional “wholesale equivalent price” rather than on net sales in a lawsuit filed in No. CA District Court.
Following former-CEO Mike Egeck’s elevation to chief of the new PacSun-Eddie Bauer parent PSEB, Damien Huang was promoted to the top job there from his previous post as SVP of merchandising and design.
World Cup Opening Brings the Usual Media Circus
With the expected news that Canada, the U.S. and Mexico will host the 2026 event, the 2018 World Cup kicked off in Russia with the usual hoopla from both the sporting press and labor activists.
The parent of 5.11 Tactical, Liberty Safe and Crosman said that it has enough exposure to the outdoor market right now, though it would certainly still consider an exceptional opportunity in the segment.
Hi-Tec licensed revenues increased 58% in the first quarter ended May 5, but weakness elsewhere at the licensing company resulted in a loss of $2,741,000 against a loss of $3,259,000 on 21% lower revenues of $5,402,000 from $6,817,000.
While still trending negative, the decline narrowed considerably from the first two months of the year, with handgun and rifle imports both off 4% to 253,354 units and 47,089 units respectively.
GPS hired Neil Fiske as president and CEO of the Gap brand, two months after his departure from the surf company following its acquisition by Boardriders.
Adjusted sales for sporting goods/hobby/book and music stores declined 1% to $6,903 million last month from $6,954 million in May. 2017, according to Commerce Dept. data.