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Article Date: November 2020
Word Count: 235

Fila Korea Gets Boost from Acushnet in Q3


Consolidated net profit slipped 3% in the third quarter to KRW 95,115 million ($80.1 mm) from KRW 98,450 million, on 6% higher revenues of KRW 917,431 million ($772.5 mm) up from KRW 866,986 million. Gross margin expanded by 50 basis points to 48.6%. Excluding Acushnet, however, revenue declined 7% to KRW 342,036 million from KRW 367,676 million. Outside of golf, the U.S. Fila branded business contracted single digits, with net income down 6% to $6,643,000 on sales that declined 9% to $134,338,000 blamed on a slowdown in retail demand due to the pandemic. Gross margin here declined by 230 b.p. ... Log in to view full article.

 


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