February 10, 2023
The final quarter net loss narrowed to ¥3,358 million ($23.7 mm) from a loss of ¥9,671 million prior, as sales soared 48% to ¥121,533 million ($859.5 mm) up from ¥81,875 million in 2021 when the top line was hurt by Vietnam’s Covid-related factory closures.
The bottom line swung to a BRL 20,849,000 ($3.9 mm) loss from BRL 303,057,000 in net income from continuing operations on Rothy’s acquisition costs, while the top line was up 3% to BRL 1,103,382,000 ($209.9 mm) from BRL 1,068,986,000 at the Brazilian footwear company.
Newell’s Outdoor & Recreation segment, which includes Coleman, Contigo, Campingaz, Marmot and other brands, saw revenues decline 31% to $211 million in the final quarter, compared to $304 million last year.
The bottom line swung to a loss of SEK 16 million ($1.5 mm) in the fourth quarter from a profit of SEK 154 million as revenues declined 11% to SEK 1,651 million ($153.9 mm) from SEK 1,846.
HBI will pay a considerably higher interest rate for the new debt to pay off two existing tranches of notes that were set to mature next year.