Consolidated net income soared 240% to KRW 134,201 million ($120.5 mm) in the first quarter against KRW 39,500 million, on revenue that increased 25% to KRW 988,281 million ($887.3 mm) from KRW 789,901 million as Fila bounced back from the start of the pandemic last year. Gross margin was up 210 basis points overall to 50.4%. Acushnet was a big contributor to the results, but even without the golf company included, revenues increased 13% to KRW 341,395 million. Fila’s global owned-store fleet was down 14 stores to 495 at period end.
In Korea, Fila’s home market, the bottom line was up ... Log in to view full article.