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Sporting Goods Industry News for May 16, 2012

Foot Locker Promotes Richard Johnson to Chief Operating Officer

A 15-year Big Foot veteran, Johnson has served as EVP/Group President of Retail Stores since July, 2011. In his new role as COO, which is effective immediately, he will retain responsibility for all of FL’s store banners worldwide.

Asics Group Operating Income Slips 9% in FY

The Japanese company reported a 14% increase in consolidated net income to ¥12,617 million ($157.8 mm) from ¥11,046 million for the 12 months ended Mar. 31, largely due to the sale of a Tokyo building and adjacent land.

Skechers Will Pay $45 Million to Settle Toning Claims

Skechers agrees to a one-time settlement of $45 million with the Federal Trade Commission over advertising for its Shape-Up toning shoes and other styles that suggested consumers could lose weight plus tone their buttocks, legs and abs by wearing the footwear.

Tough Winter Sports Season Ends with Whimper in March

Mother Nature was no friend of the 2011-2012 winter sports season in the U.S. Total retail dollar sales, as collected from point-of-sale systems of more than 1,200 snowsports retailers by Leisure Trends Group, declined 3.8% to $3.4 billion for the Aug. to Mar. 31 period.

Puma Establishes Owned Subsidiary in Israel

The Cat has established a 100%-owned subsidiary in Israel so that it may exercise full control of its business there starting on Jan. 1, 2013.

Zett FY Sales Rise 2%

Consolidated annual revenues at the Japanese sporting goods company rose 2% to ¥38,988 million ($487.5 mm) from ¥38,245 million.

Etcetera: Shopatron, PGA Tour Superstores, Dick’s, Maverik Lacrosse, Wilson Sports, DC, Suunto, Footbalance
 
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