PHILADELPHIA (AP) — The unfolding Penn State child molestation scandal has slammed the university’s reputation and shaken its loyal fan base that sees the school as more than a campus or a team but a way of life, an identity and a brand.
Part of the immediate fallout from the still-developing investigation is economic.
Retailers and industry analysts say sales of hats, shirts, and other items with the Penn State name have plummeted about 40 percent overall compared with the same period last year.
Matt Powell is an analyst with industry research organization SportsOneSource Group. He says it’s the first time he’s seen a decline so dramatic and so fast.
Former football defensive coordinator Jerry Sandusky is accused of sexually abusing eight boys over 15 years. He says he is innocent.
