New Wave Group, the Swedish parent of sports brands Craft and Cutter & Buck and distributor of other labels, reported a 41% increase in first quarter sales to a quarterly record SEK 1,774.9 million ($190.2 mm) as revenues in the Sports & Leisure segment also increased 40%. Net profit more than doubled to SEK 153.5 million ($16.4 mm) from SEK 67.7 million. Gross margin slipped 50 basis points to 47.5%. Sports & Leisure total sales were SEK 746.6 million with ... Log in to view full article.