February 12, 2021
Net loss was ¥12,718 million ($112.7 mm) in the fourth quarter against a ¥169 million profit the year before as revenues declined 12% to ¥80,578 million ($714.3 mm) from ¥91,884 million.
Czechoslovakian firearms company Česká Zbrojovka Group SE has acquired the 175-year-old American gunmaker for $205 million in net cash and 1.1 million CZG shares worth about $17 million.
Newell’s Outdoor & Recreation segment has been largely left behind by the post-pandemic boom in camping and outdoor activities, and the group’s brands, which include Coleman, Marmot, Contigo and five other outdoor brands, continued to struggle in the final quarter.
Kathmandu Holdings total sales were up about 12% for the fiscal first half ended Jan. 31, but the gains came entirely from a full six months of Rip Curl sales, as the continued effects from the pandemic hit both direct-to-consumer and wholesale.
The fine is the second imposed by the Consumer Product Safety Commission since President Biden took office, after a more than two year drought since a civil penalty was levied by the agency.