February 24, 2021
Currency headwinds and the Covid resurgence proved challenging to the Big Cat’s final quarter, but results still improved overall, with a 39% increase in net income to €24.7 million ($29.4 mm) from €17.8 million and 3% top line growth to €1,520.1 million ($1,811.8 mm) from €1,478.6 million.
CODI’s 5.11 Tactical, Liberty Safe, Marucci Sports and Velocity Outdoor divisions along with the most recent addition of Boa Technology all saw final quarter sales growth.
Net income nearly doubled in the final quarter to $9,721,000 from $5,086,000 on 16% higher sales of $87,618,000 up from $75,341,000 that included double-digit gains at wholesale and retail.
The running specialty retail franchisor opened five stores last year, bringing the total to 182 in 37 states and DC, and four additional openings are planned for H1 this year, with more in the pipeline.
The outdoor retailer had 48 stores as of Jan. 30, the end of parent TJX’s fiscal year, flat in Q4 and up two from the beginning of the pandemic-constrained year.
Mad Dogg Athletics defended its Spinning trademark, the validity of which is being challenged by PTON, calling the USPTO petition mere retaliation for the patent infringement suit it filed several weeks ago in East TX federal court.