Monday, January 20, 2014

Modell's loses $500,000 gamble on Patriots AFC championship gear

Hey, you win some and you lose some.

This has to be the mindset employed by major sporting goods retailer Modell's after the store spent roughly $500,000 on New England Patriots gear in anticipation of the team winning the AFC title.

“We took a tremendous risk, but you know what? People expect us to have the merchandise,” CEO Mitch Modell said. “We printed up everything: hats, shirts, T-shirts, novelties, pennants — you name it — for men, women, kids.”

In case you missed it, the Patriots fell to the Denver Broncos on Sunday, failing to punch their ticket to the coveted Super Bowl. But more importantly for Modell's, it meant that the retailer would have to take a huge hit to its bottom line, as tons of merchandise boasting the Patriots as AFC champs cannot be sold.

“We’re not allowed to sell it,” he said.

The store will donate the merchandise to a third-world country, instead.

Via Boston Herald

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