October 30, 2018 Under Armour Stock Pops on Q3 Earnings Report
Under Dog stock shot up 21% on heavy trading as it reported net income of $75,266,000 against $54,242,000 for the quarter ended Sep. 30 on a 2% gain in revenue to $1,442,976,000 from $1,408,991,000 that saw North American sales down 2% to $1,059,535,000 from $1,077,088,000 while international sales advanced 15% to $351,281,000 from $305,139,000. Hibbett Looks for New Growth Avenue with Acquisition of City Gear
With its rural-focused strategy for the Hibbett brand hitting some limits, HIBB agreed to buy inner city chain City Gear for $88 million plus a potential earnout of $25 million whose terms weren’t specified. Big 5 Sees Promotional Holiday after Q3 Declines
Net income was off 48% to $3,115,000 from $5,950,000 in the third quarter ended Sep. 30 on 2% lower revenues at $266,351,000 vs. $270,471,000 and negative 2.0% same store sales against a positive 1.7% comp last year. Joe Preston to Take Reins at New Balance
He will replace Rob DeMartini when he steps down Dec. 31. Currently chief commercial officer of NB, Preston is a 23-year veteran of New Balance whose career has seen him have major roles in the international department which he ran from 2005 and most recently as EVP of global product, R&D and sports marketing. Administration Ramps Up Tariff Threat on China Again
President Trump is said to be preparing to impose duties on all imports from China that are not already subject to increased duties if talks between him and China’s President Xi Jinping at November’s G20 Summit fail to resolve the trade dispute between the two countries. Bass Pro Wins Injunction against Ex-Cabela’s Execs’ Startup
Delaware Chancery Court issued a preliminary injunction against NexGen Outfitters, an outdoor retailer started in Sidney, NE, by four former Cabela’s executives, prohibiting them from soliciting former CAB vendors, employees or customers. Winchester Sales Slip on Soft Commercial Demand
Third quarter revenues at the Olin-owned ammunition maker were down 5% to $174.0 million from $183.8 million last year on lower shipments to commercial customers. Nike Extends Tottenham Hotspur Sponsorship Through 2033
The 15-year extension of an initial deal signed just last year will pay the Premier League team around £30 million per year. Kingmaker Warns of Profit Plunge
The footwear maker said that net income for the fiscal first half ended Sep. 30 would be down about 85% despite an 8% increase in revenue. Etcetera: Club Champion, Adidas, Puma
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