August 09, 2023
Net income increased by 75% in the second quarter to ¥8,486 million ($61.8 mm) from ¥4,837 million, on 15% higher sales of ¥137,782 million ($1,002.8 mm) up from ¥119,751 million, leading the Japanese sportswear brand to raise full-year revenue guidance to ¥550,000 million from ¥510,000 million.
Reporting a strong start to its new fiscal year, Mizuno’s net income for the June quarter increased 33% to a record ¥4,670 million ($34.0 mm) from ¥3,505 million, as revenues grew by 24% to ¥57,176 million ($416.1 mm) from ¥46,194 million.
Fresh off the relaunch of its BowFlex brand, NLS tallied another difficult quarter, continuing to work down inventory in advance of new product launches planned for fall.
Net results registered a $1,093,033 loss against income of $3,253,027 in the prior year on revenues slashed 44% to $34,254,575 from $60,756,026 for the fiscal first quarter.
The clogmaker and Heydude parent refinanced the $1.18 billion outstanding under its Term Loan B facility via an amendment, reducing the interest burden to the alternate base rate plus 2%, down from 2.5%.