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News...8/18/04
AUGUST 18, 2004 --
Industry Execs Are Not Big Political Donors
There's an Internet site that allows you to see what friends or acquaintances have donated to presidential candidates in the primaries and general election through May 31. Entries of the names of top industry execs found they are on the cheap side. The big majority of ISG's submissions came up blank – no record of any donations.
But some interesting hits did come up. The wife of big name gave the Bush campaign $2,000. One shoe exec gave the RNC $25,000. Two officers of public chain gave the Bush campaign $2,000 each. The CEO of an outerwear company gave the Bush campaign $2,000. The retired head of a major company shouldn't let his son, who is very active in social causes, that he gave $2,000 to Bush, as his wide did. The Bush campaign seemed to favored by most of the execs who were located, but a shoe exec did give Joe Lieberman $2,000, while a retail CEO gave Dick Gebhardt $500. A fishing tackle exec gave Howard Dean $1,000. To do your own search, go to: http://www.fundrace.org/neighbors.php.
1H04 Sporting Goods Imports Rose 6.3%
The Department of Commerce reported imports of sporting goods rose 6.3% in 1H04. The data were released by SGMA. The customs value of imported athletic footwear, sports apparel and selected sports equipment was $4.87 billion vs $4.548 billion. "The continuing rise in import value appears to be a combination of higher cost of athletic footwear, continued growth of outsourcing and perhaps increased demand - a good sign," said SGMA director of market intelligence Sebastian DiCasoli. Total sports equipment rose to $2.2 billion vs $1.97 billion. Big increases were seen in synthetic tents, hockey sticks and strung tennis racquets. Athletic footwear imports increased 3.4% to $2.36 billion. Unit volume fell 0.2%. The average landed cost was $9.87. Because of its lack of precise definition, apparel numbers only include jogging/warmup apparel (jackets, pants and sweats). There was a 14% decrease in imports to $283 million.
Gander Mountain Sales Up 35%; Q2 Loss Reduced
Gander Mountain 2Q sales increased 35%, or $33.3 million, to $128.1 million. Comp-store sales increased 1.8% on top of a 15.5% increase 2Q03. The net loss for the quarter was $3.7 million compared with a net loss of $4.4 million in 2Q03.
For the 26 weeks ended July 31, 2004, sales increased $62.6 million, or 38%, to $226.8 million. Comp-store sales increased 4.8%. The net loss for the 26 weeks ended July 31, 2004 was $17.3 million, compared to a net loss of $15.6 million for the 26 weeks ended August 2, 2003.
Nike Licenses Savier To Gen-X Sports
Gen-X Sports, a wholly owned subsidiary of The Forzani Group Ltd.,has acquired the North American rights to the licensed trademark of Savier. It is an authentic skate shoe brand that is owned by a wholly owned subsidiary of Nike. The licensing arrangement allows Nike to concentrate on its Hurley action sports footwear and apparel acquisition. "We are very pleased with our new relationship with Gen-X Sports Inc. and The Forzani Group Ltd.," said Nick Stowe, director/Nike subsidiaries and new business. "We believe that Gen-X is the perfect partner to take the Savier brand forward." "We are very excited with the Savier license," stated Jamie Salter, CEO of Gen-X. "Savier is an authentic skate shoe brand and Nike is a world class company."
Implus Hires European Director Of Sales
Implus is adding David Wallace to its international team as director of European sales. He joined Implus with extensive experience in both the footwear and apparel categories with adidas, New Balance and Converse. "David brings a wealth of experience that will greatly benefit our European customers and international expansion efforts," said Matt Carter, Implus director of international sales. Implus stable of brands including Sof Sole, Airplus, Sof Comfort and Thom McAn Shoecare are sold in more than 40,000 retail locations in more than 65 countries worldwide. Wallace is based in Manchester, England.
Cabela's Opening 150,000-Square-Foot Utah Door
Cabela's is in negotiations to build a 150,000-square-foot store near Lehi, UT, and plans to have it open for business by late 2005. Construction is scheduled to begin in the summer of 2004. The store, to be built on a 50-acre site on Interstate 15 at the SR92 Alpine Highland Highway interchange in the Traverse Mountain Development near Thanksgiving Point, would be the Nebraska-based company's thirteenth retail outlet, similar in size to the Cabela's retail showrooms in Owatonna, MN and Kansas City, KS. The newest Cabela's store, a 175,000-square-foot facility in Wheeling, WV, opened August 12. Cabela's expects to employ as many as 400 people in Lehi
International Sport Summit Will Be Held In Madison Square Garden
The 27th International Sport Summit will be held January 25-27, 2005, at Madison Square Garden in New York City. The industry's longest running sports business forum, the International Sport Summit conference is the place where sports industry executives come to exchange information, network and conduct business. The central mission of the International Sport Summit is to help people get connected and enable networking opportunities with fellow key decision-makers in the seminars, at the exhibition and during special events. The Sport Summit has also joined forced with Sports TV Production Magazine to create the Sports TV Expo, which will showcase emerging sports broadcast and production technology providing leaders in the broadcast production industry the forum to display and demonstrate products for sports industry professionals.
To register, go to www.sportsummit.com to find information on exhibiting and sponsoring at the Summit. Officials from the IOC, USOC, sports federations, National Governing Bodies, major league teams, facilities, Fortune 500 companies and leading broadcast production companies will be on hand to discuss current topics and the latest technology dominating sports headlines.
Yamaha Will Appeal Dumping Duties
Yamaha Motor Corp. will appeal the decision of the US Department of Commerce that imposed a 22.5% dumping duty on Japanese-made outboard motors and powerheads. Yamaha said it would contest the issue of injury to US producers this winter at the International Trade Commission. Group president Phil Dyskow said, "Yamaha does not expect to pay duties in the amounts announced…by the Department of Commerce. These duties are based on past pricing, not current pricing which has already adjusted both in the US and Japan to eliminate the margins of dumping. We do not plan to increase our prices to ours customers in response to this calculation."
Rawlings Sporting Goods extended its partnership with the ABA for an additional ten years or until 2013. The 37 teams of the ABA will play with a distinctive red, white and blue Rawlings TEN panel ball.
Iron Grip Barbell promoted Donna McCallum to VP/sales and Shawna Healy to senior account executive.
Prudential Securities began coverage of Columbia Sportswear with a neutral rating… Caris & Company upgraded Dick's Sporting Goods from average to above average. The target price is $32.
Footstar's revenues in July were $52 million. The company has shrunk down to its Meldisco unit. It lost $13.8 million, as a result of store and DC closings and asset impairment charges.
Government officials in Germany and Spain have confirmed that they will support ispo China, March 14.17 in Shanghai. Booth space and booth construction will be available at a subsidized priced plus further possible
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