Fenix Outdoor Net Grows Despite Sales Decline
The parent of Royal Robbins, Fjällräven and other outdoor brands saw first quarter net income more than double to €9.6 million ($11.6 mm) from €4.4 million, on 1% lower revenues of €128.1 million ($154.3 mm). Gross margin was flat at 57.6%. North American sales were boosted by solid U.S. wholesale orders and improving direct-to-consumer sales both in stores and online, but weakness in Canada pulled down sales in the region to €18.0 million from €19.7 million. The brands division’s sales fell 4% to ... Log in to view full article.