August 02, 2023
Net income from continuing operations in CODI’s branded consumer companies related to sports, outdoor and apparel—5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor—declined by 68% to $6.9 million from $21.4 million for the period ended June 30.
Net income declined 22% in Q2 to $16,185,000 from $20,757,000 on RGR’s first year-over-year sales increase in six quarters, with the top line gaining 2% to $142,804,000 against $140,653,000.
Net income increased 34% to BRL138,951,000 ($26.8 mm) in the second quarter from BRL103,758,000 on a 10% revenue gain to BRL723,920,000 ($139.4 mm) up from BRL656,808,000, boosted by a 14% jump in athletic footwear sales to BRL608.0 million.
GRMN’s Fitness segment revenue was up 23% to $334,863,000 from $272,095,000 in the second quarter as advanced wearables led growth across all categories.
The industrial yarn and footwear component supplier saw revenues dip 11% to $715 million from $801 million in the first half, facing difficult year-over-year comparisons and widespread industry destocking.
The Weyco-owned outdoor brand declined by 35% in the second quarter, giving back the big increase in Q2 last year, and then some, as retailers cut back orders in the oversaturated outdoor footwear and boot market.
NSSF-adjusted NICS FBI background checks dwindled 17% last month to 1,023,903 from 1,233,115 in July, 2022, the second consecutive month of major declines.
The Chinese sportswear brand expects first half profits will be up at least 25% compared to last year’s RMB 550,914,000 ($83.3 mm) bottom line, it revealed in a release.