Johnson Outdoors Faces Elevated Inventory
The outdoor equipment company said that 2022 was “quite a ride” as demand fluctuations added to supply chain snafus, in a presentation at Sidoti’s virtual investor conference. After seeing strong double-digit growth the year before in fishing, camping and watercraft, softening fishing sales more than offset strength in camping and a rebound in diving, sending total sales down 1% to $743.4 million. But rising supply chain costs for shipping and electronic components, combined with product shortages to reduce gross margin by 800 basis points. Operating margin was down to 8.9% from ... Log in to view full article.