February 24, 2023
Net income jumped 40% in Q4 to $52,959,000 from $37,734,000 on a 19% improvement in revenues to $408,641,000 against $342,329,000, but the gains came entirely from the Powered Vehicles Group, as Specialty Sports Group sales dropped 2%.
The Chinese retailer said that full-year net income would come in at about RMB89 million ($13 mm), a 75% drop from 2021, on 20% lower revenues of about RMB18,638 million ($2,767 mm).
The subsidiary of Italy-based Fiocchi Group has appointed David Blenker as president and CEO of its North American operations, taking over for the retiring Anthony Acitelli.
The Sterling Partners-owned parent company of Planet Cyclery and Colorado Cyclist has hired industry veteran Paul McAfee to lead the omni-channel bike retailer going forward.
Firearms imports remained sluggish in Nov., according to ITC data compiled by the NSSF, with handguns falling 25% to 334,333 units, including a 25% drop in pistol imports to 309,656, and revolvers falling 31% to 24,677 units.