April 15, 2021
As its Southern markets relax pandemic restrictions, Academy Sports said it expects pandemic-boosted outdoor sales trends to remain strong, in a presentation to investors at the JP Morgan Retail Round-Up.
The Big Cat has withdrawn a host of petitions asking the U.S. Patent and Trademark Office to cancel registrations for the USOC’s and Comité International Olympique’s Olympics city and year marks (e.g. TOKYO 2021), FIFA’s World Cup mark and UEFA’s Euro 2020 mark.
Net loss narrowed to $4,460,000 in the final quarter from a loss of $10,779,000 last year helped by $3.7 million in SG&A savings, but licensing revenues were down 5% to $22,962,000 from $24,245,000.
Net income nearly tripled to $5,442,000 in the first quarter ended Mar. 20 from $1,951,000 last year on 59% higher revenues of $59,191,000 up from $37,289,000, with sales gains led by the archery and outdoor categories.
Sporting Goods/Hobby/Book and Music Store adjusted revenues grew 74% last month, lapping the first month of pandemic-caused retail store closures last year, coming in at $9,591 million up from $5,527 million.
Comping the first month of lockdowns when Covid hit last spring, the 95 members of Grassroots Outdoor Alliance reported an aggregate 101% increase in revenues last month.
The footwear and apparel startup, which recently signed on as Reebok’s successor as title sponsor of the CrossFit Games, has secured an unspecified investment from Exeter Capital, a new Boston-based private equity firm.
The latest intellectual property lawsuit over connected fitness technology came from outside the industry, as the satellite pay TV service Dish, and online streaming video provider Sling sued the three companies in federal court.
KSS had a positive response to its tender offer to retire some of its most expensive long term debt from bondholders, who accepted the retailer’s premium on about $1.04 billion of the notes.
DBI will host Lids shop-in-shops in 45 of its 130 Canadian DSW and The Shoe Company stores, selling league licensed apparel north of the border, with the first location set to launch May 15.