Sporting Goods Industry News for March 11, 2014
Net income was $138,638,000, up 7% compared to $129,749,000 for the 13 weeks ended Feb. 1 against a 14-week final quarter last year with sales up 8% to $1,947,418,000 compared to $1,805,302,000, handily beating the upward revision of guidance that DKS gave in Nov.
Presenting this morning at the Bank of America Merrill Lynch 2014 Consumer and Retail Conference in New York, the Foot Locker president and CEO responded to analyst questions about a number of topics, including rival Finish Line’s leased space relationship with Macy’s and FL’s six:02 format.
The Norcross, GA, wholly owned subsidiary of Mizuno Corp. intends to relocate all of its distribution facilities and manufacturing operations to a 520,000-sq.-ft. facility in Braselton, GA, by 2015.
Golden Gate Capital will retain Eddie Bauer as Jos. A. Bank terminated its proposed $825 million purchase of the outdoor brand from the private equity firm, and agreed to be acquired by rival Men’s Warehouse for $1.8 billion.
YY’s total Feb. sales, less discounts and returns, rose 2.1% to $496,608,000 from $486,509,000.