October 25, 2018
The Big Cat easily exceeded its forecast with net income of €77.5 million ($90.1 mm), up 25% from €622.1 million in the quarter ended Sep. 30 as sales rose 11% to €1,241.7 million ($1,443.8 mm) from €1,121.8 million that would have been up 14% currency neutral.
Net income in the seasonally important quarter ended Sep. 30 was up 12% to $102,375,000 from $91,102,000 on a 6% revenue gain to $795,801,000 from $747,367,000.
Comprehensive net income increased 34% to $69,314,000 from $51,616,000 in the fiscal second quarter ended Sep. 30 on 4% higher sales at $501,913,000 against $482,460,000 with gains at Hoka more than offsetting a small decline from Ugg.
Net income increased 57% to €73.6 million ($85.6 mm) from €47.0 million in the third quarter on an 8% gain in revenues to €757.2 million ($880.5 mm) from €697.9 million accelerated by €40 million in incremental Peak Performance sales.
BC’s fitness segment sales increased 5% to $254.0 million from $242.8 million in the third quarter, but the operating result swung to a $0.2 million loss from income of $19.4 million last year.
The Berkshire Partners-owned distributor of accessories and fitness products is said to be exploring a sale for a valuation that could be in the neighborhood of $1 billion, according to the Wall Street Journal.
Consumers will spend an average of $1,007.24 this Holiday season, up from $967.13 last year, according to an annual survey conducted by the National Retail Federation.
He will share the role with Burton co-owner and current CEO Donna Carpenter, who will be moving to Europe for a year to grow the company’s business there.