SportsOneSource.com - Sporting Goods Business UPDATE

SGB UPDATE is the only continuously updated source for news for the Sporting Goods, Athletic Footwear, and Athletic Apparel markets. This archive area is updated by our editorial team throughout the day as news breaks in the industry. The SGB UPDATE newsletter is delivered each business morning via e-mail in either TEXT or HTML format.

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The Latest News...

Dick's Sporting Goods Lowers Q4 Guidance
Dick's Sporting Goods, Inc. reported third quarter earnings slumped 24.6% to $9.2 million, or 8 cents per diluted share, from $12.2 million, or 10 cents, a year ago. The third quarter earnings per diluted share are at the top end of earnings guidance provided on Aug. 21 of 4 cents to 8 cents per diluted share. However, the retailer lowered its fourth quarter guidance due to current business trends and "the unpredictability of consumer behavior approaching the holiday season"...(11/20/2008)

ESPN to Face Quicksilver Trademark Allegations
A federal judge has ruled that ESPN, Inc. must face allegations of Quicksilver, Inc. that its X-Games logo violates Quicksilver�s �Generation X� clothing trademark...(11/20/2008)

Profits at Shoe Carnival Drop 38.1%
Shoe Carnival, Inc. reported net earnings in the third quarter fell 38.1% to $2.6 million, or 21 cents a share, from $4.2 million, or 33 cents, a year ago. Sales slid 2.2% to $170.1 million from $173.9 million with comps down 5%...(11/20/2008)

Jarden Corp Adopts Stockholder Rights Plan
Jarden Corporation said its Board of Directors approved the adoption of a stockholder rights plan. The company said the adoption of the plan is "not in response to any current accumulation of shares or specific effort to acquire control of Jarden, but rather the potential for exploitation given the current macro market conditions."...(11/20/2008)

RECALL: Brownie's Third Lung Air Compressors
The U.S. Consumer Product Safety Commission, in cooperation with Brownie's Third Lung, announced a voluntary recall of the company's air compressors. Consumers should stop using recalled products immediately unless otherwise instructed. There are no reported injuries. The air compressor's components can fail, which could cause a stoppage of air flow. This poses a risk of drowning to users. The recalled air compressors are used to provide air to divers...(11/20/2008)

RECALL: Yong Colors Children's Hooded Jackets
The U.S. Consumer Product Safety Commission, in cooperation with importer R&D; International Inc., have announced a voluntary recall of Young Colors Children's Hooded Jackets. Consumers should stop using recalled products immediately unless otherwise instructed. The jackets have drawstrings through the hood and at the waist. Children can get entangled in the drawstrings that can catch on playground equipment, fences or tree branches...(11/20/2008)

Steve & Barry's to Liquidate
Steve & Barry's has filed for bankruptcy protection a second time, less than five months after its initial filing, with a plan to fully liquidate. According to the company's Chapter 11 bankruptcy filing on Wednesday in Manhattan, the 276-store retail chain said it is unable to get additional financing in the current economic environment...(11/20/2008)

TMaG Completes Ashworth Acquisition
TaylorMade-adidas Golf has successfully completed its tender offer for the outstanding shares of Ashworth, Inc. for a price of $1.90 per share in cash. At the expiration of the offer at midnight EST on Nov. 18, 2008, approximately 10,934,097 shares of Ashworth were tendered and accepted for purchase, representing approximately 74% of the outstanding shares of Ashworth common stock...(11/20/2008)

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