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Article Date: August 2023
Word Count: 168

Globeride Cuts Guidance after Weak First Quarter

The Japanese parent of Daiwa fishing and golf saw profit attributable to shareholders fall 19% to ¥3,514 million ($25.6 mm) from ¥4,352 million in the fiscal first quarter ended June 30, as revenues slipped 8% to ¥34,116 million ($248.3 mm) from ¥36,978 million. Gross margin expanded by 80 basis points to 38.1%, while SG&A was up 6% in yen, deleveraging 350 b.p. on the lower top line. Americas sales declined 11% to ¥3,754 million ($27.3 ... Log in to view full article.


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