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Dick’s Sporting Goods wins bidding war
Dick’s Sporting Goods was the victor on Thursday at the bankruptcy auction for former rival Sports Authority Holdings. Dick’s bid $15 million for the brand name and other intellectual property, beating British-based Sports Direct International PLC’s $13 million bid, according to the Wall Street Journal. Dick’s also had the winning bid at the auction for 31 Sports Authority store leases, for an additional $8 million, the report said. -
Barnes & Noble Education loss grows in Q4; plans new stores
Restructuring costs helped increase fourth quarter net loss at Barnes & Noble Education Inc. to $2.8 million from $300,000 in the fourth quarter of fiscal 2015. Not all the fourth quarter fiscal news was negative, however. Total sales rose 8% to $294.8 million from $274 million, aided by a 4.5% increase in same-store sales.