Net Income Up 22% for Sport Supply Group

Fourth-quarter net sales for the Sport Supply Group dropped 2.2%, to $59.7 million, down from $61.1 million for the same period last year. Net income for the marketer of institutional sports equipment rose 27.7%, to $2.29 million, for the period ended June 30.

The Dallas-based company’s full-year sales dropped slightly, to 250.2 million, from $251.4 million. But its net income shot up 22%, to $11.9 million, from $9.7 million.

Company chairman/CEO Adam Blumenfeld was pleased with the results. “In a year where most industry participants experienced shrinking demand and profitability, Sport Supply’s nonretail/nonconsumer-based institutional model proved resilient and produced the most profitable year in corporate history,” he said in a release.

Blumenfeld added that in the past 60 days the company has closed three transactions: Webster’s Team Sports, Gus Doerner Team Sports, and Har-bell Athletics, each of which “add strategically valuable new sales outlets for the company.” And Sport Supply Group is still on the hunt for more acquisitions.

“We continue to review a number of interesting joint venture, business development, internal growth and external expansion opportunities,” Blumenfeld said. “Over the last two years we have worked hard to create a scalable and technologically advanced direct sales platform–built for the rapid integration and monetization of new relationships and properties within this highly fragmented industry.”

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.