March 13, 2018
Net income was $115,951,000 for the 14 weeks ended Feb. 3 compared to $90,188,000 for the 13 weeks last year as sales rose 7% to $2,664,122,000 compared to $2,483,433,000 but adjusted for the extra week comps fell 2.0% in the period.
Net income dropped 62% in the final quarter to $11,701,000 from $30,526,000 including net after-tax charges of $18.8 million this year, as revenues rose 7% to $719,975,000 from $674,617,000 with $35.6 million coming from the extra week.
Caleres net income was $20,316,000 in the fourth quarter ended Feb. 3 against a loss of $6,622,000 last year impacted by acquisition, restructuring and other charges that did not recur, on sales that were 10% higher at $702,465,000 vs. $639,488,000.
The explosive growth of climbing walls among Millennials puts the sport at the same juncture as the surf market was for the Baby Boom generation, which over the long-term will enable Clarus to transition from a collection of niche brands aimed at core outdoor athletes to a more lifestyle-driven business, Clarus told the Roth investor conference.
Kevin Conroy, a former Metro Goldwyn Mayer exec and the fifth NWL board member to resign in recent weeks, gave public support to activist investor Starboard Value’s effort to replace the board.
The activist fund sold its 8.5% stake following its failed proxy fight to get its slate of directors elected. The stock fell 7% to $92.
He replaces Dave Burroughs who has been named chairman. Heinlen is a veteran of the outdoor equipment business and has been CEO of SOG Knives and Yakima Products in the past as well as COO of Waterloo Industries.