October 30, 2019
Net income jumped 19% to $119,258,000 from $100,152,000 for the three months ended Sep. 30 as sales rose 14% to $906,793,000 from $795,801,000 with both the top and bottom line all-time records for the company.
Net income more than tripled to $31,048,000 in the third quarter from $9,517,000 last year, as 11% organic growth combined with $134 million in incremental sales from Jack Wolfskin sending revenues up 62% to $426,217,000 from $262,654,000.
Net income grew 240% to $35,676,000 in the third quarter from $10,492,000 as revenues were up 20% (+21% CC) to $312,766,000 from $261,064,000, including wholesale growth of 25%, e-commerce up 28%, and +12.5% retail comps.
The brand was acquired in 2002 when it had sales of about $70 million, about 0.7% of the Eager Beavertons’ total sales at the time, and will be sold to Bluestar Alliance with sales of about $250 million, about 0.6% of global sales last year.
Backing away from a long-held position in the face of legislative pressure, the governing body of college sports said it would implement new rules that will allow college athletes to profit from their images, names and likenesses.
Importers can apply for exclusions of List 4A Chinese imports between Oct. 31 and Jan. 31. Those products have been subject to a 15% tariff since Sep. 1, but importers who are granted exclusions are eligible for reimbursement from that date.
Garmin’s Outdoor segment sales increased 23% in the third quarter to $258,294,000 from $209,415 driven by adventure watch sales.
5.11 Tactical sales increased 18% to $98,053,000 from $83,342,000 in the third quarter boosted by its line extensions into “tacticool” apparel in the consumer lifestyle space.
Net income attributable to stockholders jumped 21% to $29,487,000 from $24,312,000 in the third quarter on a 20% higher top line at $211,317,000 up from $175,798,000.