May 08, 2018
The comprehensive result was a loss of ¥6,407 million ($58.7 mm) against income of ¥1,324 million for the first quarter ended Mar. 31 as sales declined 7% to ¥104,642 million ($958.9 mm) from ¥113,052 million with domestic sales down 7% to ¥28,625 million and international sales down 7% to ¥76,016 million.
The logistics of opening 28 Gander stores and restocking Overtons in Q1 was evidently a bit trickier than anticipated and CWH now plans to slow those openings down in order to preserve the customer experience and the sanity of its staff, but it also indicated that it was still on track to have 70 stores open by the end of 2018.
The bottom line surged 75% to $12,523,000 from $7,155,000 in the important first quarter on 6% higher revenues at $283,148,000 vs. $267,907,000, leading the clog maker to up its full year guidance to low-single-digit top line growth.
While the Eager Beavertons’ management shakeup is said to be nearly complete, four more senior execs resigned or were shown the door this week.
While it does not have the standing of the Commission on College Basketball headed by Condoleezza Rice, the independent Knight Commission, funded by the foundation of the same name, released a report that calls for more transparency from schools, teams and sponsors.