Sporting Goods Industry News for July 26, 2017
Net income soared nearly 14 times to €21.9 million ($25.5 mm) from €1.6 million during the second quarter ended Jun. 30 as sales rose a robust 17% to €968.7 million ($1,129.2 mm) from €826.5 million with double-digit gains in all regions that were led by a 20% improvement in sneaker sales to €463.0 million ($539.7 mm) from €360.2 million and a 12% gain in apparel sales to €334.8 million ($390.3 mm) from €290.1 million.
In her first major public appearance since leaving office, former U.S. Interior Secretary Sally Jewell told a packed room at the OIA Industry breakfast that the conservation and preservation of public lands is not a red or blue issue, but an American issue.
CEO Mark Parker’s total compensation plummeted by more than two-thirds to $13,851,499 in the fiscal year ended May 30 from last year’s bodacious haul of $47,615,302.
Consumers’ shopping preference for the Swoosh swung to the online giant’s advantage in H1 2017, with 13% preferring Amazon, up from 10% last year, and 9% preferring Foot Locker, down from 14% in H1’16, according to a survey from UBS Evidence Lab.
Firing back at Adidas in the ongoing lawsuit over designs that the Big A says infringe on it’s iconic mark, defendant’s lawyers claimed that the many three-strips trademarks are in fact distinct and separate.