March 15, 2018 Journeys Finishes 2017 Strong, but Lids Still Struggles
Journeys sales jumped 16% to $452,882,000 from $391,132,000 in the final quarter ended Feb. 3 benefitting from an 11% same store sales increase coming against a 6% decline in Q4 ’16, when the teen retailer came late to the athleisure trend. Strong Holiday Lifts Zumiez Results
Net income was $19,936,000, up 10% from $18,184,000 for the final 14 weeks ended Feb. 3 on an 11% sales improvement to $308,245,000 against $263,635,000 which included a 7.5% comp gain for the comparable 14 weeks. Iconix Resets in 2017, Sees Return to Profits in 2018
Capping a year of enormous writedowns and other financial machinations, a $66 million income tax benefit helped ICON to a $24,087,000 profit in Q4 against a loss of $297,548,000 on licensing revenues of $52,299,000, down 11% from $58,801,000. Puma Said to Be in Hunt for Man City Deal
The Big Cat is reportedly offering £45 million ($62.9 mm) annually to replace Nike as the kit sponsor of Manchester City as it closes in on the EPL Championship. John Schaefer Retires as CEO of Sportsman’s Warehouse
He will be replaced by Jon Barker, the current COO, who will also take over Schaefer’s seat on the board. Etcetera: Nester, Asics, Currex, Gander Outdoors
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