April 27, 2017
Despite a heightened promotional environment and sluggish sales of some key items, Under Dog reported a slightly better result than expected for Q1 ended Mar. 31 as it lost $2,272,000 compared to income of $19,180,000 on a 7% sales gain to $1,117,331,000 compared to $1,047,702,000.
Net income slipped 16% to €19.5 million ($20.8 million) from €23.2 million in the first quarter, comping against a windfall from US$ hedges last year, on sales that climbed 4% to €661.6 million ($705.3 million) from €635.5 million.
Net income rose 13% to $36,006,000 from $31,770,000 for the period ended Mar. 31 on a sales improvement of 4% to $543,793,000 compared to $525,136,000.
Comping against last year’s disastrous Q1, GPRO net loss expanded to $111,150,000 from $107,459,000 on revenues that increased 19% to $218,614,000 from $183,536,000.
The Fitness division had sales of $235.6 million for Q1 ended Apr. 1 compared to $218.3 million, but excluding the impact of acquisitions, sales rose just 1%.
Noting the changing retail landscape, Kit & Ace said it would shutter all but the nine Canadian stores of its roughly 60 stores, although it had earlier planned to close just 15, according to the Globe & Mail.
Hydro Flask’s revenues were a bright spot in a down fiscal fourth quarter at Helen of Troy, gaining 8% in the period ended Feb. 28.