August 15, 2023
A CHF 80.8 million negative swing in foreign exchange impact sent ONON’s net income down 93% in the second quarter to CHF 3.3 million ($3.7 mm) from CHF 49.1 million prior, despite a 52% jump in sales to CHF 444.3 million ($494.2 mm) from CHF 291.7 million that were up more than 60% constant currency.
Net income attributable to shareholders was 28% higher in the first half of 2023, hitting RMB 703,646,000 ($100.3 mm) up from RMB 550,914,000, as revenues improved 18% to RMB 4,311,523,000 ($614.6 mm) from RMB 3,653,756,000 driven by strong consumer demand.
Today’s news that the Japan’s GDP jumped 6% in the second quarter reflects a post-Covid recovery gaining steam, which is benefitting the nation’s large sporting goods retailers.
Adjusted sales of sporting goods/hobby/book and music stores crept up 1% last month to $8,682 million from $8,593, according to Commerce Dept. data, continuing to trend nearly flat year-over-year.
Nikwax added the global CEO title to North American president Brian Davidson, who will continue to run the U.K.-based waterproofing tech company operations here, and take on a larger role leading the brand worldwide.
COLM veteran Woody Blackford returns to the outdoor sportswear company as SVP, chief product officer for the Columbia brand, where he’ll coordinate all product aspects of apparel, footwear, accessories, and equipment.
Handgun imports were down in Apr., the fourth consecutive month of declines, according to ITC data compiled by the NSSF, falling 25% to 353,883 units, including a 27% drop in pistols to 318,589 units, while revolvers were up 4% to 35,294 units.