Weak Igloo Sales Pull Down Dometic in Q4
The Swedish RV equipment company, which acquired Igloo in 2021, reported the brand’s lower cooler and drinkware sales contributed to a 14% decline in total revenue to SEK 5,327 million ($502.5 mm) in the final quarter from SEK 6,172 million. Like other outdoor brands, Igloo has been negatively impacted by retailer destocking, which sent the distribution sales channel down 20%. Gross margin improved 350 basis points to 27.0%, which helped ... Log in to view full article.
