March 11, 2022
Net income tumbled 53% to $3,766,000 in the fiscal third quarter ended Jan. 31 against $8,029,000 last year, on a 15% decline to $70,105,000 from record revenues of $82,649,000.
Dorel’s Sports segment, which is being reported as a discontinued operation following its recent $810 million sale to the Pon Group, saw operating profit grow 22% to $2,292,000 in the fourth quarter from $1,882,000 in Q4 2020.
Ammunition imports were very strong in Nov., including a 57% jump in other cartridges to 441.4 million and shotshells doubling to 44.2 million units, according to ITC data compiled by the NSSF.
VFC is the latest sportswear company to suspend its commercial activities in Russia, closing its owned Vans retail stores and shutting down Vans and The North Face e-commerce sites.