February 02, 2023
Net income fell back 81% to $75,515,000 in the final quarter from $402,422,000, lapping a $337.9 million tax benefit last year, on revenue that increased 14% (+19% CC) to $1,878,785,000 from $1,655,385,000.
Net income increased 20% to $278,662,000 from $232,943,000 in the seasonally important fiscal third quarter ended Dec. 31, as revenues climbed 13% to $1,345,640,000 from $1,187,752,000 boosted by Hoka sales that nearly doubled.
After navigating supply chain issues and product delivery delays in 2022, Columbia Sportswear is intent on reducing its inventory level to be more in line with demand and generating 3% to 6% revenue growth this year to a range of $3.57 to $3.67 billion.
Just before releasing its results for the Dec. quarter, VSTO announced that CEO Chris Metz is out, and has been replaced by board member Gary McArthur on an interim basis.
The Champion parent, faced with numerous near-term challenges that are not expected to wane during H1, lowered its guidance and eliminated its quarterly dividend today as it aims to accelerate debt reduction and shore up its balance sheet.
Net income was cut 9% to C$137.5 million ($105.3 mm) from C$151.3 million ($115.8 mm) on revenue declined 2% to C$576.7 million ($441.6 mm) from C$586.1 million for the fiscal third quarter ended Jan. 1.
The British retailer will focus most of its expansion in North America and Europe, and plans to open 250 to 350 new JD stores per year over the next five years, focusing on its core banner, under new CEO, Régis Schultz.
The livestreamed shopping market platform for collectibles and trading cards will be led by former Snap and Alphabet executive Nick Bell.
The KSS board member and former CEO of Burlington Stores was appointed to the post, which he had been filling on an interim basis, permanently.
CLAR tapped long-time industry vet, Neil Fiske as president, where he’ll be responsible for growing the brand across categories, channels and regions.
The parent company of BSN Sports and Varsity Spirit plans to extend the maturity on its $1,331.4 million senior secured first lien term loan by two years to Dec. 2026, according to Moody’s which assigned a B2 rating to the debt.
AOUT’s subsidiary, AOB Products Company, filed suit in CO district court against The Allen Company for infringing on its Lead Sled, Orange Peel, and Ultimate Target Stand marks and designs.