February 17, 2022
Net income was up 17% to $72,881,000 from $62,394,000 in the final quarter of 2021 on net sales of $443,125,000, rising 18% over $375,768,000, helped by a 21% improvement in DTC sales to $263.9 million on increases in both Drinkware and Coolers & Equipment.
Revenues at Canadian Tire’s sports banner increased 3% to C$625.8 million ($496.7 mm) from C$604.8 million in the final quarter, and comps were up 15.9%, lapping last year’s store closures towards the end of the quarter.
Net income dipped 4% in the fourth quarter to $4,871,000 from $5,087,000, on 2% lower revenues of $73,444,000 against $74,767,000, with strong archery and pickleball momentum offset by lower indoor game sales hampered by supply chain delays.
Net income was up 5% in the fiscal third quarter ended Dec. 31 to ¥2,282 million ($20.1 mm) from ¥2,175 million, as revenues increased 8% to ¥28,964 million ($254.7 mm) from ¥26,858 million at the Daiwa fishing and golf parent.
The Sumitomo Rubber division reported a 29% increase in operating profit to ¥1,440 million ($12.7 mm) from ¥1,120 million in the final quarter, on sales that grew 24% to ¥25,327 million ($222.8 mm) from ¥20,458 million.
The 124-year-old Canadian footwear and apparel manufacturer tapped Gillian Meek, who was most recently president of Keds, to lead the brand.
With founders and owners Dana Gleason and Renée Sippel-Baker stepping back from day-to-day operations, long-time VP of sales and marketing Alex Kutches has been named president of the pack company.
Ex-Numero Uno’s new owner, Authentic Brands Group, is partnering with Big Foot for exclusive rights in the U.S. to retro basketball footwear collections including styles from Allen Iverson and Shaquille O’Neal.
SidelineSwap, the online marketplace for new and used sporting goods, has partnered with Dick’s in a series of trade-in events, which allows athletes to turn their used sports gear into Dick’s store credit.