May 05, 2023
The Big a’s first quarter results were largely in-line with expectations set earlier in the year, pulled down by missing €400 million in Yeezy sales and bloated retail inventories in the U.S. and China hurting sell-in there.
The bottom line from continuing operations swung to a BRL 169.2 million ($37.8 mm) loss in the first quarter from BRL 171.3 million in profit in the prior year on sales that were down 3% to BRL 902.5 million ($173.8 mm) from BRL 927.2 million.
The direct-to-consumer channel paced Q1 sales growth for the Moncler Group, rising by 34% on a constant-currency basis to €501.5 million for the Moncler brand and 40% to €39.1 million for the Stone Island business.
Net income was up 50% to $14,861,000 from $9,900,000 in the fiscal second quarter ended Mar. 31, on revenues that inched up 7% to $202,115,000 from $189,623,000, helped by strong fishing sales that were partially offset by the camping segment.
The outdoor co-op’s Chicago store employees voted to unionize, the fourth of the co-op’s stores to do so, joining its SoHo, NYC, Berkeley, CA, and Cleveland, OH, stores.
The online marketplace for new and used sporting goods received an unspecified investment from eBay Ventures, the e-commerce marketplace’s corporate venture arm.