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Article Date: February 2023
Word Count: 189

Escalade Net Slips on Soft Demand and Higher Inventories


Net income tumbled 44% in the fourth quarter to $2,704,000 from $4,871,000, on 2% lower revenues of $72,136,000 against $73,444,000 with strong indoor games and pickleball sales together with the contribution from Brunswick Billiards offset by soft demand in outdoor categories and excess inventories. Gross margin was up 19 basis points to 22.4% despite the rising costs of freight and logistical expenses related to inventory handling and storage. SG&A was up 15% in dollars driven by the acquisition of Brunswick Billiards which closed in Jan 2022.

 

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