December 2, 1999 |
Struggling athletic shoe maker Reebok International Ltd. suffered a new setback with the sudden resignation of the executive brought on board just last year to revive its marquee brand. Carl Yankowski, hired amid great expectations that he could revive Reebok's flagging sales, resigned as president and chief executive of Reebok Brand to take over a high-technology company.
September 10, 1999 |
Reebok International Ltd. said it plans to lay off 10% of its 6,600 workers worldwide in an attempt to cut costs and restructure its business. The cuts include 120 jobs out of the 1,200 people that work at the company's headquarters in Stoughton, Mass. Further details on the job cuts will be announced over the next few weeks, a spokeswoman said. Reebok's U.S. market share has fallen from nearly 25% in 1991 to just over 10% this year, according to First Securities Van Kasper.
July 20, 1999 |
Stock Exchange lets readers listen in as staff writers James Peltz and Michael Hiltzik debate the merits of individual stocks. CNet (CNET) Jim: CNet operates on the Internet, but somehow, Mike, it's gotten a reputation for not being your typical Internet company--or stock. Mike: That's because CNet actually turned some profits, including second-quarter earnings it announced last week.
December 23, 1998 |
Reebok International Ltd., the world's No. 2 shoemaker, said it expects to take a fourth-quarter charge to cover a change in the value of a Brazilian venture and restructuring costs, which will cut fourth-quarter earnings by $10 million, or 18 cents a share.
December 22, 1998
Fresno Edison 69, Mater Dei 67 (OT)--Willie Johnson scored 39 points for Edison (8-4), which shot 51% from the field. Steve Scoggin had 21 points and eight rebounds for Mater Dei (8-2). In the Reebok Holiday Classic: No. 6 Capistrano Valley 62, No. 4 Santa Margarita 56--Nate Hair scored 23 points for the Cougars (8-1), who advanced to the final to play host Trabuco Hills. Spencer Gloger scored 27 points for Santa Margarita (7-1).
August 28, 1998 |
Reebok International tapped a former top Sony executive to help the athletic shoemaker revive its namesake brand and stock price. Carl Yankowski, 50, was named president and chief executive of the Reebok brand, responsible for overseeing licensing, sales, sports, marketing and advertising, as well as development of shoes and clothing. Yankowski, who resigned in January as president and chief operating officer of Sony Electronics Inc., a Sony Corp. unit, replaced Robert Meers.
July 23, 1998 |
Advertiser: Reebok Agency: Berlin, Cameron & Partners, New York Challenge: Portray Reebok's DMX running shoes as a breakthrough in athletic footwear, a market Nike dominates. The Ads: Two companion spots, now airing in movie theaters in Los Angeles and elsewhere, portray Nike as Big Brother and Reebok as the wellspring of individuality. In the first ad, an army of clones runs through otherwise empty city streets, past a building that displays 97005--the ZIP Code for Beaverton, Ore.
July 1, 1998 |
Reebok International Ltd., which has cut its spending on high-priced endorsement contracts with star athletes, ended its relationship with basketball star Shaquille O'Neal on Tuesday. Reebok and O'Neal's agent said in a joint statement that the six-year deal, which made the Los Angeles Laker center one of the game's highest-paid stars, has benefited both parties, but that the two are parting ways. Reebok critics have said that the high-priced O'Neal endorsements helped sell few shoes.
December 12, 1997 |
Investors stomped on shares of athletic-shoe makers again Thursday after Reebok International Ltd. provided fresh evidence that the $12-billion U.S. sneaker market remains caught in a major slowdown. Stocks of Reebok, industry leader Nike Inc., Converse Inc. and other leading players in the industry have been sliding all year amid growing signs that sales were going flat.
November 13, 1997 |
Advertiser: Reebok International Agency: Heater, Boston Challenge: Introduce a new shoe endorsed by tarnished pro basketball player Allen Iverson. The Ad: A TV commercial pitching the $150 shoe flashes images of a menacing urban mural as a voice-over recites a rap song written for the spot. The lyrics talk about Iverson's "spats with the system" and his ability to rise above it--"accelerate, levitate"--with Reebok's "DMX 2 Triple O."