Net income declined 16% to €27.8 ($30.3 mm) in the third quarter from €33.0 million on 1% lower sales of €223.0 million ($242.7 mm) down from €224.2 million. Brands revenues inched down 4% to €59.8, primarily driven by divesting Primus and its subsidiary Primus Eesti Ou to Silva Sweden AB, resulting in €1.0 million in lost sales. Additionally, Hanwag is facing tough comparisons against the pandemic-fueled demand and saw low reorders in Sep., due to unseasonably warm weather. The brands segment operating profit fell 30% to €19.1 million. Overall profits were ... Log in to view full article.