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Follow on Google News | New Online Community for Action Sports: Action Sports HubThe Newest Online Action Sports and Mixed Martial Arts Community Taking the Globe By Storm.
By: Action Sports Hub Other industry news: Phoenix Footwear Group, Inc. , Exceed Company Ltd. , K-Swiss , Heelys, Inc. , SKECHERS USA, Inc. and VF Corporation . Phoenix Footwear Group, Inc. reported results for the third quarter ended October 2, 2010. For the quarter ended October 2, 2010, net sales totaled $4.9 million compared to $5.5 million in the prior year comparative period. For the current quarter, Trotters and Softwalk were down 9% and 6%, respectively. James Riedman, President and Chief Executive Officer, commented, "During the quarter we continued to experience a soft retail marketplace, particularly among our independent retail customers. While we began the quarter with a solid backlog, reorders did not materialize as we anticipated, resulting in lower sales. Nevertheless, we were able to accomplish several important things during the quarter, which we believe will result in materially better results in 2011. We have continued to open new retail accounts and secure increases in our Spring 2011 future orders. Additionally, we have taken further costs out of our business, reducing our projected SG&A for the upcoming year by over $2 million. Lastly, we put a new and substantially larger credit facility in place to fund our working capital and inventory needs." Exceed Company Ltd. , the owner and operator of "Xidelong" brand - a domestic sportswear brands in China, released its unaudited financial results for the third quarter ended September 30, 2010. Shuipan Lin, Exceed's founder, Chairman and CEO, commented, "Positive brand momentum from our new 'happy lifestyle' advertising campaign and new product launches boosted our results by tapping the potential of the younger population, which is the high growth segment of the sportswear market in China. With our continued retail network expansion, in terms of both the number and size of our retail stores, we are broadening our reach in the growing sportswear market. Iconic California Sport footwear and apparel brand K-Swiss is thrilled to congratulate back-to-back Ironman 70.3 World Champion Michael Raelert, and professional triathletes Leanda Cave and Timothy O'Donnell for their respective second and third place finishes in K-Swiss gear at the Foster Grant Ironman World Championships 70.3 in Clearwater, Florida, on November 13th, 2010. K-Swiss triathletes dominated the pro field with seven team athletes placing among the top ten. Heelys, Inc. reported the following financial results for the third quarter ended September 30, 2010. Net sales for the third quarter of 2010 were $8.2 million compared to net sales of $10.7 million in the corresponding period a year ago. International and domestic sales were $6.9 million and $1.3 million, respectively, for the third quarter of 2010, compared with $8.2 and $2.5 for the third quarter of 2009. The drop in international sales for Q3 was the result of a decrease in sales to our German and French markets, where we sell direct to retailers. We believe the decrease is due to slower than anticipated spring and summer consumer sales with certain retailers in those markets. The drop in domestic sales was the result of a combination of lower sales to discount channels compared to prior year and what we believe to be retail customers' caution in taking inventory risk. SKECHERS USA, Inc. , a global footwear company announced the opening of the first SKECHERS-branded retail store in Ireland. The new Irish store, opened last month, comes as part of a worldwide retail licensing expansion for SKECHERS. A second Portugal SKECHERS store will open in December in Lisbon. Four new stores recently opened via partners in Canada (Brampton, Edmonton, and Winnipeg with Town Shoes, plus Montreal with Bo-Pied). An additional three stores with Canadian partners are planned for early 2011—bringing the total number of SKECHERS stores to more than 400 worldwide. Vans today announces Offthewall.tv, an innovative digital online video network chronicling the many aspects of Vans' brand of youth culture through exclusive original content consisting of both stand-alone features and serial programming. Mirroring a traditional television network but operating exclusively online, Offthewall.tv will include original content developed weekly as well as video from Vans' vast archives in a platform that is easy to navigate, is searchable, easily shared and available worldwide. The heart of Offthewall.tv is an intuitive, proprietary player accessing hundreds of videos that allows viewers to subscribe for notification of new episodes of their favorite series, to search for videos by categories and search terms, share via Facebook and Twitter or embed links their own sites plus even edit certain videos to their own liking via a Mashable player. iPad compatibility will be available in coming weeks. Vans, the original action sports footwear and apparel company, is a brand of VF Corporation . About Action Sports Hub: Action Sports Hub is the World's PREMIER MMA Incubator for Future Champions and future Industry Leaders. Action Sports Hub (ASH) brings together two industries that are currently changing the next generation's future in sports, Action Sports and Mixed Martial Arts (MMA). For more information, go to the corporate website at www.actionsportshub.com & www.mma.actionsportshub.com. For more information on Action Sports Hub and the Companies products, send an email to info@actionsportshub.com. For Action Sports & MMA industry news, go to www.ActionSportsHub.com. Action Sports Hub (ASH) brings together two industries that are currently changing the next generation's future in sports. Action Sports and Mixed Martial Arts (MMA). Action Sports Hub is the premier global portal for Action sports and MMA industry news. Action Sports: www.ActionSportsHub.com. MMA: Corner Man www.MMA.ActionSportsHub.com. Disclaimer Action sports Hub (ASH) is NOT a financial advisor, broker, or even in the finance business. All the above news is already released news direct from the companies in the news. # # # "Where Champions are bred and Industry Leaders are made" The World's PREMIER Action Sports & MMA portal. Action Sports Hub (ASH) brings together two industries that are currently changing the next generation's future in sports. End
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