Sporting Goods Industry News for April 29, 2016
VF net income was 10% lower at $260,269,000 from $288,709,000 but would have been flat currency neutral in the first quarter ended Apr. 2 on flat revenues of $2,809,124,000 vs. $2,803,302,000 with Outdoor & Action Sports and Jeanswear both positive.
Net income increased 4% to €25.8 million ($29.2 mm) from €24.8 million as sales also rose 4% to €851.9 million ($962.6 mm) from €821.4 million.
If your resume is so sparse that it has sporting goods on it dating back to the 1970s, as mine does, most of what you’ll read in Shoe Dog, you already knew in a general way.
The House Armed Services Committee voted to require the Department of Defense to provide American-made footwear to all new recruits, replacing an allowance that could be used to purchase any footwear including imports, as part of the Annual Defense Authorization Act.
A report authored by the Departments of Justice, Defense and Homeland Security said that advances in user authorization technology and electronic recovery technology are promising and should be evaluated by soldiers, police officers and others as a way to limit who can fire a particular gun.
The International Trade Commission invalidated the patents that were the subject of a legal dispute between Fitbit and Jawbone.
The textile maker is introducing new outer and lining materials made of recycled PET bottles for a range of applications in sports, fashion and leisure.
Lower tourist traffic in the U.S. and Hong Kong hurt Oakley sales but parent Luxottica saw revenues grow 3% to €2,226 million ($2,473 million) and 4% excluding exchange rate effects in Q1.
He replaces David White, who joined the company in 1975 and will be retiring on May 20. Keller is the former CEO of Escalade.