Thule Benefits from ForEx in Q3, but Tariffs Loom
Net income inched up 2% to SEK 189 million ($21.1 mm) from SEK 185 million in the third quarter on revenues that were 13% higher at SEK 1,561 million ($174.5 mm) vs. SEK 1,385 million, but gained just 4% constant currency. Profits were impacted by a gross margin that contracted 200 basis points to 39.1% from higher input costs and a lower margin product mix, and increased selling expenses from product launches of the Sleek stroller and Evo and Edge roof rack systems during the quarter. ... Log in to view full article.