Net income was cut 59% to $10,564,000 in the first quarter from $25,659,000 on net sales that were up 3% to $302,796,000 from $293,628,000, despite a $16 million hit from the stop-sale on recalled soft coolers. The company reclaimed roughly half of the 600 b.p. impact in the quarter with demand for unaffected soft coolers. Lost sales should ease sequentially as wholesale partners boosted orders of other coolers during the quarter. The redesigns of the recalled coolers are expected to debut in Q4.

DTC sales increased 7% to $167.0 million, or 55% ... Log in to view full article.