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Article Date: April 2020
Word Count: 144

Garmin Fitness and Outdoor Results Improve in Q1


Fitness segment revenues was up 24% to $223,601,000 from $180,256,000 on growth in advanced wearables and contributions from Tacx, benefitting from the home fitness boom brought on by stay-at-home orders due to the coronavirus. Gross margin was down 20 basis points to 50.2% and segment operating income jumped 71% to $31,011,000 from $18,126,000. Outdoor revenues gained 14% to $175,102,000 from $154,051,000 driven by higher sales of adventure watches. Outdoor gross margin was ... Log in to view full article.

 


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