April 26, 2019
Net earnings grew 40% to €94.4 million ($107.2 mm) from €67.4 million on a 17% sales improvement to €1,319.3 million ($1,497.5 mm) from €1,131.1 million with both the top and bottom lines all time records for any quarter at the Big Cat.
After years of losses at Descente N.A., the Japanese parent’s board of directors decided to pull the plug by the end of its current fiscal year, which ends Mar. 31, 2020.
Comprehensive net income increased 24% in the first quarter to SEK412 million ($44.9 mm) from SEK331 million on sales that gained 14% to SEK1,834 million ($199.9 mm) from SEK1,611 million.
Sales at HELE’s housewares segment, which includes Hydro Flask, increased 8% in the final fiscal quarter ended Feb. 28 to $126,069,000 from $116,954,000, driven by higher online and club channel sales, new product introductions and growth in international sales.
GSM added the 70-year-old shooting sports accessories brand to its growing portfolio in the space.