Sporting Goods Industry News for November 25, 2014
Net income improved 21% to $33,113,000 from $27,314,000 on a 4% sales hike to $729,277,000 compared to $702,788,000 for the 13 weeks ended Nov. 1.
Net income declined 10% to $49,554,000 from $54,961,000 for the period ended Nov. 1, but EPS of $0.55 beat guidance by $0.04 a share.
Financial details of the transaction for the three-and-a-half-year-old fightwear and fitness apparel brand based in the U.K. weren’t disclosed.
The move was reported to be the result of Sony’s restructuring efforts but it also represents the loss of a second major sponsor as Emirates Airlines also pulled out recently.
U.S. weekly retail sales rose 1.7% for the period ended Nov. 22.
The online marketplace giant is apparently rethinking and retooling its strategy for same-day local delivery service.