Sporting Goods Industry News for February 03, 2023
Net income was slashed by 94% to $3,073,000 in the final quarter from $52,625,000 on revenue that was down 18% to $321,021,000 from $391,149,000, in-line with guidance as ForEx and inflationary impacts eroded both ends of the P&L.
Net income was nearly halved to $5,879,000 from $10,856,000 in the first fiscal quarter ending Dec. 30, despite 16% higher revenues of $178,337,000 against $153,524,000 powered by growth in fishing and diving.
NSSF-adjusted NICS FBI background checks started the New Year with a 7% increase to 1,268,236 from 1,190,856, but remain well below the peak for Jan. of 2,052,130 the year before.
The firearms and accessories maker appointed Rod Reasen as CEO, succeeding Marty Daniel, who will remain as chairman.