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Expenses cut Dover Saddlery Q2 net income; four-to-six new stores planned
Littleton, Mass. – Net income at Dover Saddlery Inc. for the second quarter decreased 26% to $261,000, compared to $355,000 achieved in second quarter 2013. Higher selling, and general and administrative expenses helped cut the net income total.
Dover Saddlery is planning to open four-to-six retail stores in 2014. Until there is greater long-term visibility on sustainable economic conditions and consumer behavior, the company is not providing guidance on other business prospects.
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3M announces partnership with Hendrick Motorsports
A new partnership with Hendrick Motorsports has 3M off to the races. The company has signed a three-year contract to become the primary sponsor of NASCASR driver Jeff Gordon’s No. 24 car, starting in 2015.
The brand will use its sponsorship — which includes 11 Sprint Cup races every year — in product launches and promotions.