Golfsmith 2Q Profit Up 26%
Austin, Texas Golfsmith International Holdings said second-quarter profit rose 26% to $8.6 million from $6.8 million last year.
Revenue rose 4% to $130 million from $125 million in the same quarter last year. It was boosted by sales in 12 stores opened in fiscal 2007.
Same-store rose 0.5%. Catalog and Internet sales fell 10%.
“Looking ahead, we will continue to focus on controlling our expenses and managing our inventory,” Martin Hanaka, chairman and chief executive, said in a statement. “While we are planning conservatively for the second half, we continue to expect our 2008 earnings to show meaningful improvement compared to 2007.”
Smart Balance names marketing vp
PARAMUS, N.J. Smart Balance announced that Richard McWilliams has been named to the position of vp and general manager, core brands, reporting to Gregory Venner, evp and chief consumer officer. McWilliams will be responsible for leading the marketing efforts for the company’s core brands.
Before joining Smart Balance, McWilliams served as chief marketing officer for Trex Company, the country’s leading manufacturer of composite decking.
RealNetworks names new board member
SEATTLE Digital entertainment services company RealNetworks announced that Pradeep Jotwani has been appointed to the company’s board of directors.
“Pradeep is a great addition to our board,” said Rob Glaser, chairman and ceo of RealNetworks. “He brings a rare combination of breadth and depth that will serve RealNetworks well. I’m looking forward to working closely with Pradeep as we continue in our mission to enable consumers to enjoy digital entertainment whenever and wherever they are.”
Jotwani served as a senior executive at Hewlett-Packard for 17 years from 1990 to 2007. Most recently he was the senior vp and general manager responsible for the $16 billion printing supplies business. Prior to that, he founded and served as president for HP’s $15 billion consumer business.