IIC-Intersport acquires 100% of The Athlete’s Foot
Paris — A Tuesday report by Women’s Wear Daily said that sporting goods retailer IIC-Intersport International Corp. will acquire 100% of The Athlete’s Foot, expanding Intersport’s presence to 63 countries from its current 41.
“The Athlete’s Foot is an ideal complement to Intersport,” Intersport CEO Franz Julen told WWD. ”While we were in a strong global position especially in Europe, this acquisition allows us to move into the lucrative markets of the USA, Australia, Indonesia and New Zealand, take advantage of the potential of the emerging countries in South America.”
According to the report, IIC will establish an internal Athlete’s Foot Division, and continue to operate The Athlete’s Foot banner.
Financial terms reached with Athlete’s Foot parent Global Franchise Group have not been disclosed.
Kate Spade completes acquisition of Kate Spade Japan
New York — Fifth & Pacific Cos.-owned Kate Spade said Wednesday it has completed the acquisition of joint-venture partner Sanei International Co.’s 51% interest in Kate Spade Japan Co.
Kate Spade Japan was a joint venture that was formed between Sanei and Kate Spade in August 2009. Kate Spade Japan operated the Kate Spade and Jack Spade businesses in Japan, and Kate Spade will continue to operate the businesses in Japan though its Japanese subsidiary.
The purchase price was $47.6 million.
Analysts forecast potentially gloomy Halloween from Sandy
New York — Sales of Halloween candy, decorations and other items may not reach the $8 billion mark anticipated earlier by the National Retail Federation as Hurricane Sandy turned consumers’ attentions elsewhere.
While plan-ahead shoppers had already made Halloween purchases prior to Sandy’s arrival, the hurricane would have curtailed last-minute shopping for Halloween supplies. Raymond James analyst John Ransom suggested that drug stores would be the hardest hit and that, while hurricane preparations could have boosted revenue for the chains, a scaled-down Halloween would hurt sales, as reported by the Associated Press.
Trick-or-treating in the East will likely be stymied, as well, as downed power lines and flooded and debris-covered streets may cause parents to keep their children home.
New Jersey Governor Chris Christie said Tuesday that he would sign an executive order rescheduling Halloween if conditions on Wednesday are not safe for trick-or-treating. Towns in New Jersey, upstate New York, Pennsylvania and New Hampshire have already made or are considering similar moves, according to AP.