March 01, 2022
Shrinking gross margins and rising operating expenses resulted in a net loss of $26,434,000 in the final quarter from last year’s $21,600,000 profit on flat sales of $420,566,000 against $420,494,000.
Results slipped in the final quarter of what has been BGFV’s best year ever, with net income down 5% to $19,906,000 from $21,022,000 on 6% lower revenues of $273,357,000 down from $290,582,000.
Net income moved up 29% to $12,546,000 in the fourth quarter from $9,721,000 on sales that increased 93% to $169,452,000 from $87,618,000.
Active segment sales grew 25% in the final quarter, including strong results from performance, athleisure and outdoor categories, which were broad-based across women’s, men’s and children’s apparel as well as in footwear.
The sale of Ex Numero Uno to Authentic Brands Group by Adidas for €2.1 billion ($2.4 bb) has now closed, both companies confirmed, with a majority of the cash purchase price having been transferred.
Net loss ballooned in the final quarter to $145,962,000 including a $94.9 million non-cash impairment charge, from a loss of $16,872,000, as sales ticked down 4% to $216,266,000 from $224,283,000.
ManU’s commercial revenue increased 3% to £64.4 million ($86.8 mm) in the fiscal second quarter ended Dec. 31 from £62.6 million prior, boosted by an 18% jump in retail, merchandising, apparel & product licensing revenue to £29.2 million.
NSSF-adjusted NICS FBI background checks were down 3% last month to 1,352,105 compared to 1,387,076 in Feb. 2021, bringing the year-to-date decline to 26% after Jan.’s big 42% drop.