Net loss expanded to $28,499,000 from a loss of $19,386,000 in the seasonally small fourth quarter on 6% lower sales of $180,678,000 vs. $191,657,000, a shortfall that ELY attributed to a product launch cadence that was heavily weighted toward H1 last year. Gross margin contracted 290 basis points to 38.7%, mostly from sales volume deleverage but also partially due to the higher manufacturing costs of more advanced technology products. SG&A was up 1000 b.p. to 62.3% on $13 million of additional spending on employee compensation, marketing and transaction costs for the Jack Wolfskin acquisition. Inventory at quarter end was up ... Log in to view full article.