August 03, 2017
Although net income fell 46% on several one-time items to €158 million ($187.1 mm) from €291 million prior for the quarter ended Jun. 30, the top line continued to show impressive momentum with a 20% increase to €5,038 million ($5,965.1 mm) from €4,199 million and income from continuing operations excluding a €189 million charge for the divestiture of TaylorMade and CCM was up 16% to €347 million.
Still reeling from the soft gun market and a highly promotional environment in the face of the Gander Mountain liquidations, Cabela’s reported net income of $28,348,000, down 25% from $27,759,000 for the quarter ended Jul 1 as sales drooped 4% to $890,442,000 from $929,897,000.
Net income from operations more than doubled even though net income was down 8% to $34,443,000 from $34,105,000 as a result of its gain to $17.7 million on the sale of its investment in Topgolf for the quarter ended Jun. 30.
Soft consumer demand and retailer destocking hit the top and bottom line, with net income plunging 67% to $10,199,000 from $23,515,000 on a 21% sales decline to $131,854,000 from $167,944,000 in the second quarter ended Jun. 30.
Net loss was $30,536,000 in the second quarter ended Jun. 30 compared to a loss of $91,767,000 last year as sales gained 34% to $296,526,000 from $220,755,000 driven by improved camera sales and some Karma drone sales too.
Net income increased 14% to $107.7 million from $94.7 million in the second quarter boosted by a 240 basis point gross margin expansion to 29.8% on revenues that gained 4% to $715.4 million from $688.9 million.
Comprehensive net income jumped 45% to ¥455.5 million ($4.1 million) from ¥260.7 million in the fiscal first quarter ended Jun. 30 benefitting from a ¥222 million swing in foreign currency translation.
5.11 Tactical pro forma revenue increased 11% to $77,953,000 while EBITDA increased 36% to a loss of $4,804,000 boosted by a direct-to-agency orders and growth in higher-margin retail and e-commerce distribution channels.
Net income soared 54% to $13,726,000 from $8,917,000 on an 18% revenue increase to $120,811,000 from $102,294,000 in the second quarter ended Jun. 30.
ZUMZ sales increased 8.9% to $67.5 million in the four weeks ended Jul. 30 and comp store sales increased 5.1% compared to a 2.9% decrease in Jul. 2016.
The combination of two gun safe makers will boost Cannon’s market share in a segment that has been depressed for several quarters as part of the overall post-election gun market slowdown.
Xiaomi shipped 3.7 million units in the second quarter up from 3.0 million last year, while Fitbit came in second shipping 3.4 million units (5.7 million) and Apple in third with 2.8 million (1.8 million), according to Strategy Analytics research.