April 27, 2023
Net income increased 32% in the first quarter to $160,443,000 from $121,223,000 on net sales that were up 10% (+13% CC) to $2,001,928,000 from $1,819,594,000, hitting the $2 billion mark for the first time in a quarter.
Rising costs related to elevated inventory levels sent net income down 31% in the first quarter to $46,202,000 from $66,837,000 despite 8% top line growth to $820,593,000, up from $761,510,000, boosted by pulled forward Columbia, Mountain Hardwear and prAna wholesale orders.
Net income soared 106% to $149,543,000 in the first quarter from $72,760,000 on 34% higher revenue (+36% CC) of $880,166,000 up from $660,148,000, boosted by a full quarter of Heydude sales this year.
ASO’s EVP and chief merchandising officer will take over from Ken Hicks as CEO effective June 1, as part of a planned succession that will see Hicks transition to executive chairman, and split the CEO and president roles.
The venerable winter and mountain sports brand said sales increased 28% to €401 million ($422 mm) in the fiscal year ended Mar. 31 from €313 million prior, its second consecutive year of strong growth.
Net income was nearly halved to SEK 275 million ($26.4 mm) in the first quarter against SEK 527 million, on revenues that tumbled 27% to SEK 2,226 million ($213.4 mm) from SEK 3,034 million.
Olin Corp.’s ammunition business declined 14% in the first quarter to $366.5 million from $426.7 million, sending segment operating income down 49% to $61.0 million from $118.9 million.
As part of the company’s restructuring plan to simplify its operating model and management structure, Athleta’s parent will layoff 1,800 corporate employees at its San Francisco and New York offices, according to a regulatory filing.
The licensing juggernaut, which has been rumored for years to be planning a public offering, just hired a new investor relations chief with blue-chip public company experience.
Athalonz, LLC, which sells golf and baseball footwear, filed suit in Ea. TX district court accusing Under Armour of infringing on its patents for specially shaped midsoles with variable foam densities that it says give wearers a more stable athletic base.
Black Diamond Equipment is recalling about 1,800 Recon LT avalanche transceivers because they can unexpectedly enter search mode due to interference from other beacons, possibly failing to transmit the position of survivors of an avalanche.