American Outdoor Brands’ FQ1 Hit by Lower Wholesale Orders
Net loss was $5,695,000 for the period ended July 31 against a profit of $3,457,000 as gross margin slipped 410 basis points to 43.6% on a combination of lower sales and higher freight and promotional costs. Total sales fell 29% to $43,676,000 from $60,768,000 as the traditional segment suffered a 48% year-over-year decline on a tough comparison and reduced orders from retailers who faced lower foot traffic and fewer sales into the shooting sports channel. Quarterly e-commerce revenues rose nearly 24% on growing momentum in AOB’s Direct-To-Consumer segment that includes MEAT! ... Log in to view full article.