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January 12, 2012


ICR XChange Coverage: Warnaco

Speedo is reaching historical high in sales for 2011.++++Expects to double $2 billion Calvin Klein business over next 5-6 years.++++Added 200,000 sq. ft. of retail space in 2011 to over 1 million sq. ft., up 24%.

ICR XChange Coverage: Wolverine Worldwide

62% of sales in U.S., 8% in Canada, 23% in EMEA, 2% in Latin America and 5% in Asia.++++Sees Barefoot category continuing to grow and helping Merrell penetrate running specialty market.++++WWW anticipates record Q4 revenues of $427 million, or $1,409 million for the FY, up 13%.

ICR XChange Coverage: DSW

Newest prototype is over 22,000 sq. ft., twice the size of department store shoe department, with 25-30,000 pairs per store.+++++Carries over 400 brands.++++All buying is done on net basis to do everyday low pricing.++++Typically 25-30% off MSRP and 10% is 40% off.

ICR XChange Coverage: Zumiez

Able to hold margins during Holiday with clean inventories and gross margins intact, despite lack of snow.++++Pleased with entry into Canada. Needs to go through one-year cycle before expanding there.++++Had 1,100 sales personnel who sold over $100,000 and one who sold over $600,000 in one store.

ICR XChange Coverage: Skull Candy

Number one share in buds and number two in earphones.++++92% of business in headphones.++++Brand started in winter and action sports but evolving into sports and entertainment lifestyle brand. Now has partnership with NBA, for instance.

ICR XChange Coverage: Quiksilver

Sees strong competition in action sports market with challenges from Nike, VF, PPR, Abercrombie & Fitch and Billabong.++++Quiksilver is 41% of sales, Roxy 27%, DC 28% and Other is 2%.++++Trying to increase deliveries per month at Roxy to be faster in fashion.

Report: Nike Will Pay Indonesian Factory Workers $1MM in Overtime Pay

The Eager Beavertons, according to a published report in today’s Oregonian citing Nike and Educating for Justice workers’ rights group in New Jersey, will pay a $1,002,830 settlement for 593,468 unpaid overtime hours.

Bauer Performance Sports Nets Solid Sales Gain in All Segments

As Bauer begins selling-in key new performance products for next hockey season—from the React helmet to the customizable Supreme goal protective—it reports net income of $8.2 million against a loss of $1.9 million for the period ended Nov. 30.

Dick’s Trims Q4, FY Guidance; Announces $200MM Share Buyback Program

DKS, which has revised its fourth quarter comparable store sales outlook to slightly negative to slightly positive from flat to 1% higher, sees its board approve a one-year share repurchase program of up to $200 million.

Riddell Acquires California Team Dealer

Riddell, owned by Easton-Bell Sports, acquires Gunther’s Athletic Service for an undisclosed price.

Retail Container Traffic Will Be Flat in Jan.

The slow season for cargo shipments has begun, but forecasts indicate that retailers will be stocking up again in the spring ahead of an anticipated moderate recovery as the year progresses, according to the National Retail Federation.

CPSC Recall: Bicycle Trailers

Thule Child Transport Systems, a Calgary, Canada, operation doing business as Chariot Carriers, is recalling approximately 44,000 bicycle trailers and 70,000 bicycle trailer conversion kits due to a faulty hitch mechanism that can crack and break.

Etcetera: EMS, Rugged Shark, OGIO, Anvil, Allan Edmonds, Sims

 
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