April 26, 2018
Profit jumped 25% to $45,107,000 from $36,006,000 for the first quarter ended Mar. 31, led by a strong DTC sales performance in the late spring as sales improved 12% to $607,308,000 from $543,793,000.
Net income soared 145% to $62,855,000 from $25,689,000 in the important first quarter on a 31% top line gain to $403,191,000 from $308,927,000 with all product categories and regions positive.
Net income jumped 41% to €24.6 million ($30.2 mm) from €17.5 million in the first quarter on revenues that were 6% lower at €623.8 ($766.3 mm) from €664.2 million, pulled down by the strengthening Euro as constant currency sales gained 1%.
Operating income at the Fitness business was $11.0 million compared to $18.3 million as sales rose 4% to $244.4 million from $235.6 million in the segment, which is in the process of being spun off the shareholders sometime in Q1 of FY19.
GCO agreed to add two board seats and immediately appoint two new independent directors chosen by 5.3% shareholders Legion Partners Asset Management and 4010 Capital.
Sales at HELE’s housewares segment, which includes Hydro Flask, increased 13% to $116,654,000 from $102,826,000 in the fiscal fourth quarter ended Feb. 28 boosted by strong online sales and expanded wholesale distribution.
The USTR is studying whether India, Indonesia and Kazakhstan should continue to remain eligible for GSP duty free status on travel goods.