February 14, 2023
Results at the bike component and fishing tackle maker were bound to decelerate after 2021’s 45% jump in revenues coming out of the pandemic, but a 15% top line improvement last year to ¥628,909 million ($4,786.2 mm) from ¥546,515 million was still an impressive outcome.
The bottom line swung to a loss of $4,482,117 from the prior year’s income of $10,419,865 on shrinking ammo margins and several one-time expenses, as revenue dropped 40% to $38,711,949 from $64,689,186 for the fiscal third quarter ended Dec. 31.
Xebio, which operates several sporting goods, golf and outdoor banners, saw revenues grew 8% to ¥180,364 ($1,372.3 mm) from ¥167,045 million in the first nine months of its fiscal year.
Down-under retail rebounded from Covid shutdowns with a 51% improvement at Kathmandu in the fiscal first half ended Jan. 31, boosted by a return of travel and tourism spending that powered a 34% gain in total revenues to about NZ$546 million ($346 mm).
S&P Global maintained Under Dog’s BB issuer credit rating, but changed its outlook from positive to stable, as it expects soft demand and margin pressure to persist.
The connected home gym startup was valued at $1.9 billion in its latest funding round last year, but is now seeking new investment or a buyout at a $500 million valuation, The Information first reported.
The connected exercise platform’s co-founder, Michael Horvath will give up the top job once a successor can be recruited, according to a letter released by the company.