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Today's news...9/1/05
SEPTEMBER 01, 2005 --
Hurricane Katrina Update
Sporting Goods Business, Sporting Goods Dealer and Inside Sporting Goods extend their deep sympathy and concern for the many families and businesses impacted by Hurricane Katrina, including our subscribers in Louisiana, Mississippi, Alabama, Florida and other areas affected by the storm. To offer assistance, please contact www.redcross.org...Nike announced it is donating $500,000 in immediate aid to the American Red Cross. "Hurricane Katrina's damage to Mississippi, Alabama, New Orleans and broader Louisiana is devastating," said William Perez, president/CEO. "The American Red Cross said they need cash most immediately to help provide victims of the storm with food, water, and medical supplies that are being shipped in by boat. We are committed to helping now and with rebuilding efforts going forward." Of the four outlet stores Nike has in the affected area, only the store in Gulfport was closed due to water and roof damage, but it remains structurally intact.
Outdoor Industry Association is in contact with AmeriCares to determine the specific needs of the victims and how the outdoor community can best help. AmeriCares has sent an emergency response team to assess the most important needs and will be providing OIA with a list of requested in-kind donations within the next 48 to 72 hours. The outdoor industry has developed a strong rapport with AmeriCares since rallying to support its Tsunami relief efforts. AmeriCares has indicated that while it is grateful for any assistance, they will only be able to accept bulk product donations at this time. OIA will provide members with an update as soon as this information becomes available. In the meantime, cash donations are always needed. To make a cash donation, please contact: AmeriCares 1-800-486-HELP (4357) or http://www.americares.org.
Saucony will make an unspecified contribution to a disaster relief fund to support disaster assistance and humanitarian relief efforts in connection with Hurricane Katrina.
Shoe Carnival August Comps Improve
Shoe Carnival reported that sales for the four-week period ended August 27, 2005 increased 7.3% to $81.8 million from sales of $76.2 million for the four-week period ended August 28, 2004. Comp-store sales increased 2.4% in August 2005.
Commenting on August sales, Mark Lemond, president/CEO, stated "Our August sales seemed to prove out the theory that back-to-school shoppers are now waiting until closer to, or even after, the back-to-school date to purchase footwear. Although the first half of the month was slow, sales heated up in the second half, as expected, and we ended the month with a solid comparable store sales increase of 2.4%."
Zumiez August Comps Soar 9.4%
Zumiez announced that total net sales for the four-week period ended August 27, '05 increased 25.1% to $24.7 million, compared to $19.7 million for the four-week period ended August 28, '04. The company's comp-store sales increased 9.4% for the past month, versus a comp-store sales decrease of 3.3% in the year ago period.
Pacific Sunwear's August Sales Rose 11%
Pacific Sunwear of California reported that total sales for the four weeks of fiscal August were $175.7 million, an increase of 10.9% over total sales of $158.4 million during the same period last year. Total company same-store sales increased 2.6% during the same period. By concept, PacSun same-store sales increased 3.2% and d.e.m.o. same-store sales decreased 3.1% compared to the same four week period last year.
Big 5 Still Can't Deliver Its 10-K
Big 5 Sporting Goods said that KPMG LLP, its independent registered public accounting firm, has informed the company that KPMG has not yet completed its final review and audit of the company's Form 10-K for FY04. As a result, Big 5 will not be able to file the Form 10-K with the SEC by the August 31 extended deadline provided by the Nasdaq Listing Qualifications Panel.
KPMG is completing its final review and audit of the Form 10-K. Based on discussions with KPMG, Big 5 had expected that this review and audit would be completed in order to permit the filing by August 31. Big 5 has now been advised by KPMG that it still needs an additional few days for all work associated with the audit to be completed. Big 5's previous announcements regarding the expected impact of all known restatement items remain unchanged.
Specialized Bicycles recently recognized Erik’s Bike Shop, a nine-store chain in Minnesota, as its number one dealer in the US for '05. More than 1,000 retailers sell Specialized Bicycles in the US.
| | | | | REPRINTS
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 Pacific Sunwear October Comps Rose 8%
Pacific Sunwear's November Sales Rose 12%
PacSun Comp-Sales Rose 5% In September
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Categories
Back-to-school shopping
Sporting goods industry
Cycling
Comparable-store sales
Carnivals
Companies
AmeriCares
American Red Cross
KPMG LLC
Shoe Carnival Inc.
Outdoor Industry Association
Concepts
four-week period
same-store sales
SPORTING GOODS
comp-store sales
relief efforts
People
William Perez
Pacific Sunwear
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