May 18, 2023
Net loss expanded 10% to C$10.0 million ($7.4 mm) from C$9.1 million on top line growth of 31% (+30% CC) in its final fiscal quarter ended Apr. 2, to C$293.2 million ($216.9 mm) from C$223.1 million.
Total sales grew 16% in the three months ended Apr. 23, with Rip Curl up 8%, Kathmandu increasing 11% and Oboz soaring 120%, the company reported ahead of its 2023 Investor Day.
Rising costs kept profit growth down despite soaring sales from the Japanese racquet sports and golf brand, which reported 27% higher net income of ¥7,331 million ($55.4 mm) against ¥5,780 million for the fiscal year ended Mar. 31.
Net income slipped 4% for the year ended Mar. 31 at the owner of Daiwa fishing and golf to ¥9,188 million ($69.4 mm) from ¥9,567 million, on 12% higher revenues of ¥134,583 million ($1,016.7 mm) against ¥120,684 million.
Profits improved 25% in FY23 ended Mar. 31 to ¥905 million ($3.0 mm) from ¥723 million, on 11% revenue growth to ¥49,887 million ($376.9 mm) from ¥44,762 million, with Zett’s wholesale segment up 12% to ¥48,039 million and the small manufacturing, retail and facilities segment growing 9% to ¥1,848 million.
Nike is partnering with the exercise tracking app and social network in order to reach more people while also providing its members the ability to access and share their workout data across both digital platforms.
After just three months sharing the teen retailer’s CEO duties with Brie Olson, Co-CEO Mike Relich will step back from the role, but remain on the board of directors as vice chairman.
Wilson broke ground on its Ada, OH factory expansion, which is expected to be open next summer, and at 80,000 square feet, will be more than double in size of the current plant.
Peloton’s rear guard repair for its recalled Tread+ treadmills was approved by the CPSC, and is now being manufactured with expected delivery this fall.