March 03, 2023
The small town operator’s bottom line more than doubled in Q4 to $38,424,000 from $17,659,000 as sales grew 20% to $458,295,000 from $383,348,000, including a +15.5% comp, helped by a much better footwear inventory position against last year’s shortages.
Net income was down 50% to BRL 140,666,000 ($26.8 mm) from BRL 288,477,000 on revenue that increased 18% to BRL 1,983,093,000 ($377.4 mm) from BRL 1,683,464,000.
The Anta Sports controlled company saw Moody’s raise its corporate family and other ratings to B2 from B3, and change its outlook to stable from positive, after a strong year of growth helped by a rebound in China.
The Hong Kong-based headwear manufacturer will build a new factory and warehouse in Agua Prieta, Mexico, right across the border from Arizona, to serve the important U.S. market.
JOUT inked a definitive agreement to sell its Eureka! military and commercial tents segment to tent and structure specialist Rekord Group for undisclosed terms.