May 25, 2023
Net income jumped 33% in the final fiscal quarter ended Mar. 31 to $91,787,000 up from $68,819,000 on soaring Hoka sales that sent revenues 8% higher to $791,571,000 from $736,007,000.
Falling sales and margins at the mall-based footwear chain sent GCO $18,890,000 into the red against a profit of $4,947,000 last year, as revenues slipped 7% to $483,332,000 from $520,748,000.
CEO Barry McCarthy touted turnaround progress at the embattled connected fitness company at a JP Morgan investor conference on the heels of this week’s branding relaunch, seeing a path to breaking even on cash flow, expanding TAM through its new tiered digital offerings and getting the Tread+ back to market.
The Eager Beavertons made a number of changes within their executive ranks aimed at helping the brand build on its current momentum while driving deeper integration across its business.
Sales at Gap, Inc.’s women’s activewear banner dropped 11% in Q1 to $321 million, with comps off 13%, pressured by an assortment that is having trouble attracting consumers due to color, print and pattern misses.
Firearms imports ended the year on a down note, and that trend continued in Jan., according to ITC data compiled by the NSSF, with handgun imports declining 35% to 218,615 units, including a 34% drop in pistol imports to 208,290, and revolvers faring worse, falling 38% to 10,325.
The Milan-based insulation maker has released its new fiber product, “Ecodown Fibers Ocean”, which it says is the first thermal insulation made from 100% ocean bound PET bottles.