May 26, 2021
Net income was $361,756,000 in the first quarter ended May 1, lapping a $143,422,000 loss last year in the depths of pandemic lockdowns, and up over six-fold from a $57,525,000 profit in Q1 ’19.
Vista Outdoor introduced a new, “Roadmap to 2025” three-year plan at its investor day, which calls for 10%-plus annual revenue growth, including acquisitions, and an EBITDA margin expanding from 15.5% currently towards 20%.
The bottom line returned to profitability for the first time since the onset of the pandemic with income of $17,026,000 against last year’s loss of $215,858,000 as sales increased 46% to $703,155,000 over $482,783,000.
VFC’s new Venture Platforms will add a dedicated, innovation seeking component to its existing brand portfolio strategy to focus on identifying and investing in new, future-focused opportunities.
The travel hammock maker will relaunch Alite products, including its lightweight Monarch camp chair, later this year under the Grand Trunk brand name.
The Big Cat’s former parent company plans to sell about 8.9 million PUM shares, about 5.9% of the company’s share capital, which is worth about €833 million ($1,015.3 mm) at today’s closing price.
ASO confirmed that its old, $399 million term loan has been retired, using $99 million in cash and the proceeds from a new $300 million term loan.
The protective gear and apparel company has a new, $95 million senior secured credit facility provided by Wingspire Capital, consisting of a $35 million revolver and a $60 million term loan.