April 18, 2019
SGI will have the latest insight into the chain’s future in tomorrow's issue.
Net income decreased 8% to $108,758,000 from $117,652,000 for Q1 2019 while revenue grew 2% to $1,276,756,000 million from $1,250,078,000. The company achieved a new quarterly sales record, despite a late Easter falling in Q2, negative foreign exchange rates and challenging domestic environment.
Total participation in the U.S. inched up 1.7% to 24.2 million people aged six or higher last year from 23.8 million in 2017, but rounds played declined 4.8% to 434 million, according to the NGF’s 2018 Golf Industry Report.
Net income plunged 78% in the first quarter ended Mar. 23 to $267,000 from $1,216,000 on flat sales of $32,102,000 vs. $32,149,000 in the company’s slowest period.
Revenue at the footwear maker increased 6% in the first quarter to $312.6 million from $294.6 million, assisted by a 7% gain in its manufacturing business to $307.1 million on continued strong demand for fashion athletic footwear.
The Futurecraft Loop is made from a knitted upper using reusable thermoplastic polyurethane developed by BASF that can be fused to the boost midsole without glue at the Big a’s Speedfactory facilities.
Handgun imports decreased 21% to 161,173 units to start 2018, with pistol and revolver imports both down, and handgun exports decreased 34% to 21,487 units, also reflecting lower volumes of both pistols and revolvers.
Adjusted sales for sporting goods/hobby/book and music stores fell 10% last month to $6,273 million from $6,943 million in Mar. last year, according to Commerce Dept. data.