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DECEMBER 22, 2005 -- There's a transit strike going on in New York, affecting millions. The city's restaurants and stores are in trouble. It's costing NYC $400 million a day. Mitchell Modell told a UK newspaper: "If this goes on much longer, I will be on suicide watch." Modell's is offering 25% off on shoes and inline skates in its city stores


The Black Diamond/Scarpa recall reported on Monday actually took place over a month ago and all the boots are back in stock and on the retail shelf. But CPSC didn't post the recall until recently.


Wedbush Morgan reiterated a buy rating on Golf Galaxy, while reducing estimates for the company. The 12-month target price is set to $24. The analysts mentioned that the company has reported its 3Q loss per share lower than the estimates and the consensus due to low store operating expenses and G&A. Golf Galaxy's comps for the quarter were ahead of the estimates due to robust sales in October and November, and warmer weather in its Northern markets. The company has guided to loss per share of 6¢-8¢ for 4Q, higher than the estimates, due to expenses related to the opening of several stores.


Merck Finck kept Adidas-Salomon at a buy, It said Nike's order backlog growth has clearly lost momentum, especially in the European market. It felt Adidas is currently outperforming Nike, especially in the European and the Asian markets.


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Categories
Sporting goods industry

Companies
Golf Galaxy
Adidas AG
CPSC
Nike Inc.
3Q Inc.

Concepts
reducing estimates
inline skates
buy rating
target price
retail shelf

People
Mitchell Modell





 Breaking Headlines
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DECEMBER 23, 2005

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