March 14, 2017
The total market reached $87,717,000 compared to $85,978,000, according to research from the SFIA, matching the pace of the prior year’s increase in shipments despite the disruption of the Sports Atrocity and other bankruptcies.
Net income jumped 160% to $30,526,000 from $11,763,000 for the 13 weeks ended Jan. 28 on flat sales of $674,619,000 compared to $672,036,000, which saw comp store sales decline 7% compared to last year, offset by the acquisition of Ebuys and the addition of 33 new stores.
ELY said it is well-positioned for continued gains in a sport which keeps tempting with green shoots of potential, but where the reality is a consolidating market which remains primarily a market share game, in a presentation at the Roth conference.
Total sales in the climbing industry hit $175.5 million in the year ended Jan. 2017, driven by increasing popularity of indoor climbing in gyms and clubs, as well as in sporting goods stores and on university campuses.
The Coleman parent made a tender offer for all $250 million of its 6.250% notes due 2018 and up to $825 million of seven other classes of notes.