March 10, 2017
The long-rumored filing for bankruptcy protection by Gander, no doubt precipitated to some degree by the recent post-Election slowdown in firearms sales, was filed in Minneapolis bankruptcy court.
Discounting slow-moving apparel and equipment inventory hurt HIBB’s profitability in the fourth quarter, resulting in a 31% decline in net income to $12,055,000 from $17,411,000 on sales that inched higher to $246,929,000 vs. $245,719,000.
Net income was $46,548,000, up 4% against $44,664,000, for the fourth quarter ended Jan. 28 with sales falling 5% to $883,169,000 from $932,214,000 as improved profit performances at Lids and Schuh helped offset weakness at Journeys.
He’ll be replaced as CEO of PacSun by former Genesco CFO James Gulmi on an interim basis.
Wall Street’s tepid reaction to its guidance aside, I doubt there are many people in the sporting goods industry who would argue with Dick’s CEO Ed Stack’s comment on his earnings call that he really likes where his company is positioned right now.
Net income was €32,292,000 against €32,286,000 for the year ended Dec. 31 as sales improved 6% to €1,048,152,000 compared to €986,402,000.
Driven by a solid increase in skier visits, especially to its Western resorts, Vail Resorts said retail revenue for the three months ended Jan. 31 was up 20% to $123,233,000 compared to $102,975,000.