Sporting Goods Industry News for February 11, 2016
Net income was $63,350,000, up 14% from $55,603,000 for the final three months ended Dec. 31 as sales improved 3% to $699,414,000 from $676,964,000.
Signaling that the last year of Herbert Hainer’s tenure will be a successful one, Adidas said net income will rise 12% for 2015 to €720 million ($811.4 mm) from €642 million last year as reported sales jumped 16% to €16.9 billion ($19.0 bb) from €14.5 billion the prior year.
Net income was $43,159,000 in its fiscal third quarter ended Jan. 3 compared to a loss of $11,169,000 last year which included a $52 million goodwill writedown.
The bill, which enables states to collect sales taxes on e-commerce transactions, will be brought to the Senate floor this year if passed in the House as part of a deal reached to pass a customs enforcement measure.
In a filing saying it had entered into a definitive agreement with Newell Rubbermaid to combine the two companies into a $16 billion consumer goods company, Jarden said it expects 2015 revenue to be approximately $8.6 billion with organic growth at the top of the 3-5% target range.
Boosted by the higher minimum guarantees from the new Adidas deal, ManU said retail merchandising, apparel and product licensing revenue increased 225% for the second quarter ended Dec. 31 to £25.7 million ($37.2 mm) from £7.9 million prior.
Net income plummeted 69% to $1,382,870 from $4,471,542 in the fourth quarter ended Dec. 31 on sales that were down 17% to $65,266,028 from $78,906,687 as warm weather and poor retail traffic hurt boot sales.
Epoch will pay STX an undisclosed cash settlement following the dismissal of claims centered on STX’s patent 7,955,199 for a lacrosse head ball stop.