May 02, 2017
Taking advantage of its strongest market position since pre-Big Box days, Big 5 had net income of $5,326,000 against a loss of $1,119,000 for the three months ended Apr. 2 on an 8% sales improvement to $252,604,000 from $234,528,000 that was driven by a 7.9% increase in comp store sales as well as the exit of Sports Atrocity and Sport Chalet from the market, more favorable weather conditions this year and a shift to a later Easter that added a selling day to the quarter worth 50 b.p.
HBI’s new three-year plan, called Project Booster, will seek to accelerate worldwide omnichannel and global Champion growth, while cutting $150 million in costs annually and reinvesting $50 million of that savings into the initiative.
Saying that the offer did not adequately reflect the value it expects to create on its own, Accell Group terminated talks with Pon Holdings to create what would have been the world’s largest bicycle company.
He was the performance apparel brand’s GM for New Zealand and Australia, and will replace Rob Fyfe in the top job.