Sporting Goods Industry News for February 27, 2015
The total value of U.S. sporting goods imports was $4,703.1 million for the final three months of the year compared to $4,499.4 million, led by a 13% surge in apparel imports to $1,224.1 million from $1,082.2 million and a 6% gain in sneaker imports to $1,384.1 million from $1,303.7 million.
Net income slipped 65% to $38,628,000 from $111,272,000 as the company reported a significant decline in H2 demand due to high retail inventory levels, aggressive price discounting by rivals, lower consumer demand for firearms and a lack of new product introductions.
The Obama Administration’s Bureau of Alcohol Tobacco and Firearms proposed a new regulation that would effectively ban the most popular bullets used in AR-15 semi automatic rifles.
Dick’s and The Sports Authority have a relatively high footprint overlap, according to proprietary research conducted for Morgan Stanley, with approximately 40% of Sports Authority’s 451 doors located within five miles of a Dick’s store and 65% within 10 miles.
Planalytics is predicting a warmer and drier March for most of the U.S. given the easy comparison since March 2014 was the coldest in the U.S. since 2005.