Reebok shares, net income up
Net income for the company in the quarter was up $25 million compared with $14 million in the same quarter last year. Sales for the quarter rose from $711 million to $717 million
Sales in the United States rose 6% to $334 million with sales of its new RBK basketball line rose 37%. Sales for the company’s Rockport subsidiary fell 3% for the period to $95 million.
For the remainder of the year, stock analysts suggest that Reebok’s sales should be pretty good, while Paul Fireman, Reebok’s chairman and CEO said, "We are on plan to achieve our earnings goal for the year."
Reebok’s second quarter ended on June 30, just days before its stellar endorsement personality Allen Iverson burst into a friend’s apartment with a gun and was arrested.
