July 27, 2023
Net income soared 69% to $152,759,000 from $90,404,000 on 8% higher revenues of $2,012,516,000 up from $1,867,804,000 in a tale of two quarters as domestic wholesale declines partially offset double-digit improvements elsewhere.
Net income jumped 32% to $212,412,000 over $160,315,000 in the second quarter on revenue that was up 11% to $1,072,0367,000 from $964,581,000, including a 14% improvement from the core brand, but just 3% growth from Heydude.
Net income improved 42% in the fiscal first quarter ended June 30, tallying $63,552,000 against $44,849,000 last year, on 10% revenue growth to $675,791,000 up from $614,461,000, led by strong double-digit gains from Hoka that more than offset declines elsewhere.
Net income in the second quarter slipped 36% to $3,642,000 from $5,673,000 on revenues that were down 28% to $67,771,000 from $94,337,000, pressured by waning consumer demand from pandemic highs.
Net income at the Swedish maker of antimicrobial fabric treatments was up 42% to SEK 24,334,000 ($2.3 mm) from SEK 17,178,000, boosted by a 30,885,000 gain on exchange rate differences regarding goodwill, on 46% lower revenues of SEK 25,405,000 ($2.4 mm) from SEK 47,467,000.
Ammunition sales at Olin Corp.’s Winchester segment fell 17% in the second quarter to $366.6 million from $439.9 million, hurt by lower commercial demand and pricing.
Racquet sports equipment retail sales increased 27% to $684 million for the 12 months through June, led by the continued surge in pickleball, according to Circana’s retail research.
Oofos is teaming up with the e-commerce giant and has filed suit in WA district court accusing multiple Amazon third-party sellers of infringing on its trademarks by selling counterfeit Oofos footwear.
The USFL filed suit in NY district court against 503 Sports for infringing on its “USFL” wordmarks and designs, by selling apparel on its website bearing marks of old and new USFL teams.
True Fitness is recalling about 600 Showrunner II Consoles and included wireless phone chargers sold with fitness equipment because an exposed area of the charging board can contact other internal wiring, posing a fire hazard.