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Article Date: December 2019
Word Count: 289

Mountain Equipment Co-op Swings to Loss


The Canadian outdoor co-op swung to a loss of C$11,487,000 ($8,696,000) in the fiscal year ended Feb. 24 against a profit of C$11,745,000, hit by higher SG&A spending and C$8.5 million in restructuring expenses, according to a financial disclosure posted on its website. Revenues inched up 2% to C$462,445,000 ($350,072,000) from C$454,840,000, and gross margin improved 80 basis points to 32.3%. After the close of the fiscal year, MEC named former Best Buy CFO Philippe Arrata as its new CEO in July, replacing David Labistour who stepped down.

 

Arrata said that MEC has stumbled under pressure from Amazon and other online ... Log in to view full article.

 


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