All articles by Bob McGee – Page 6
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News briefsNewell Brands’ outdoor & recreation unit reports another quarterly loss
Newell Brands’ outdoor & recreation business segment, which includes Coleman, CampingGaz, Marmot, and Ex-Officio, reported an operating loss of $1 million versus a profit of $46 million in Q1, which ended March 31. Outdoor & recreation’s normalized operating income fell by 74 percent to $13 million from $50 million. Total ...
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ArticleThule delivers improved Ebit margin despite lower sales
Thule Group, bolstered by Summer 2022 price increases, lower freight costs and reduced selling expenses, generated a 17.2 percent Ebit margin in Q1 ended March 31, despite a 26.6 percent drop in net sales to 2,226 million Swedish kroner (€198.8m) compared to SEK 3,034 million. Period operating income declined by ...
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ArticleHelen of Troy gets operating income lift in Home & Outdoor
Fourth quarter operating income in Helen of Troy’s Home & Outdoor segment, which includes Osprey Packs, Oxo and Hydro Flask, rose by 38.5 percent to $31.3 million from $22.6 million due to lower inventory obsolescence expenses and the favorable impact of acquisition-related costs in the year-ago period. Segment revenues were ...
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ArticleAnalysis: More than half of the outdoor stocks make gains in Q1
Our Q1 Outdoor Index includes the revenue and profit development of 37 major outdoor companies.
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News briefsLars Ollberg returning to Rapala as CEO
Fishing equipment maker Rapala VMC Corp. is bringing Lars Ollberg back to its senior management team, hiring the company’s former chief operating officer as its new CEO starting May 1. Additionally, the Finnish company has appointed Cyrille Viellard as Deputy CEO and named Jean-Philippe Nicolle, its current EVP of Southern ...
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ArticleAs pandemic’s impact eases, KMD Brands grows H1 sales
KMD Brands, the down-under parent of Rip Curl, Kathmandu, and Oboz, reported Ebit of NZ$31.4 million (€18.6m) for H1 ended Jan. 31. Total revenues rose by 34.5 percent to NZ$547.9 million (€323.8m) as gross margin came in flat at 58.7 percent. Ebitda was NZ$90.8 million (€53.7m) versus NZ$45.3 million. The ...
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News briefsAmerican Outdoor Brands reports Q3 loss
American Outdoor Brands suffered a Q3 operating loss of $3.0 million against an operating profit of $4.7 million in the period ended Jan. 31. The net loss was $2.9 million versus a profit of $3.8 million. Gross margin improved 130 basis points to 47.1 percent from 45.8 percent, but net ...
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ArticleCompass Diversified branded results impacted by PrimaLoft
Net income from continuing operations in Compass Diversified’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor) declined by 81 percent to $2.79 million from $14.73 million in Q4, negatively impacted by operating losses at both PrimaLoft and Velocity Outdoor. ...
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ArticleNon-cash impairment charge drags Clarus to Q4 loss
Clarus Corp., whose management described 2022 as one of its most challenging years due to various macroeconomic headwinds, reported a net loss of $81.6 million against a profit of $14.0 million in Q4 ended Dec. 31. The result was impacted by a $92.3 million non-cash impairment charge. The fourth quarter ...
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ArticleGarmin's operating income drops in Q4, targets $5 billion for FY23
Positive currency effects of more than $44.5 million helped Garmin report a 2.5 percent increase in Q4 net income to $293.3 million from $286.1 million. Operating income decreased 15 percent to $267.2 million for the period ended Dec. 31, but gross margin improved to 57.0 percent from 55.5 percent. Total ...
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ArticleWolverine Worldwide forecasts significant increase in profits in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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ArticleDirect, international drive Yeti in Q4
Yeti’s results were negatively impacted by voluntary recalls of certain soft coolers and dry gear bags for the period ended Dec. 31. Fourth quarter sales rose by 1 percent to $448.0 million from $443.1 million but were up 10 percent year-over-year to $486.4 million excluding impacts from the recalls. Direct-to-consumer ...
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News briefsPolygiene Group restructure, reports Q4 operating loss
Polygiene Group recorded a net loss of 5.1 million Swedish krona (-€480,000) against a profit of SEK 39.0 million (€3.9m) for the period ended Dec. 31. Ebitda came in at SEK 1.9 million, excluding an inventory adjustment, restructuring costs, and expenses related to the acquisition of Biomaster and ending a ...
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News briefsHelly Hansen revenues increase by 21% in 2022
Annual revenues for Helly Hansen, the Norwegian outdoor brand owned by Canadian Tire, were C$781.2 million (€571.1m) versus C$644.9 million. An estimated 91 percent of Helly Hansen’s sales total, or C$710.7 million (€519.6m), was generated in markets outside of Canada. That represented a 20 percent year-over-year increase. Meanwhile, Canadian Tire ...
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News briefsKMD reports H1 sales on improving trends
KMD Brands Limited – the New Zealand-based global outdoor, lifestyle and sports company that includes the Kathmandu, Rip Curl and Oboz brands – citing continued sales momentum in Q2, reported record H1 group sales of NZ$546 million (€322.6m) for the six months ended Jan. 31. According to the company’s preliminary ...
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News briefsRevolutionRace sales up 30% in Q2
Under new CEO Paul Fischbein, RVRC Holding generated record quarterly sales of 509 million kroner (€46.5m) against SEK 392 million for the second quarter ended Dec. 31. Adjusted EBIT was flat at SEK 117 million (€10.7m) as gross profit contracted to 70.7 percent from 71.4 percent. EBIT margin came in ...
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News briefsNewell Brands’ outdoor & recreation segment widens Q4 loss
The business unit, which includes CampingGaz, Coleman, Marmot and Ex-Officio, recorded a $14 million operating loss against a loss of $1 million for the period ended Dec. 31. Total segment sales fell by 21 percent to $211 million from $304 million because of unfavorable currency conversion impact and the exit ...
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ArticleJohnson Outdoors sees improving supply availability in fishing
Johnson Outdoors has reported mixed first-quarter results, with improving sales trends in fishing and diving and declines in camping and watercraft, but higher-cost inventory continues to press on margins. The group, while uncertain how the spring season will evolve, intends to monitor demand and proactively manage inventory levels as the ...
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ArticleVista Outdoor net income dips 45% in Q3
Vista Outdoor, the group that owns 41 sporting and outdoor brands, saw its Q3 net income fall by 45 percent to $65.1 million from $118.1 million for the third quarter ending Dec. 25. Reported earnings before interest and taxes (EBIT) declined by 38.8 percent to $97.3 million. Earnings before interest, ...
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News briefsBlack Diamond names new brand president
Clarus Corp. has appointed industry veteran Neil Fiske as brand president of Black Diamond Equipment Ltd., where he will be responsible for accelerating growth and lifting the profitability of BD by capitalizing on attractive expansion opportunities across various categories, channels and regions. A CEO for nearly two decades, Fiske ...
