October 26, 2023
Net income shot up 69% to $145,415,000 from $85,886,000 in the third quarter on 8% higher revenues of $2,024,958,000 over $1,878,367,000, as domestic sales’ +6% performance to $794.6 million was joined by a 9% increase in international to $1,230.4 million.
The bottom line nearly doubled to $176,430,000 from $89,083,000 in fiscal Q2 ended Sep. 30, on a 25% jump in revenues to a record $1,091,907,000 from $875,614,000 that included high-20s gains from both Hoka and Ugg.
Columbia Sportswear, despite making strides in its ongoing inventory reduction program and improving its quarterly gross margin by 70 basis points to 48.7%, reported a 7% decline in Q3 net income to $103.5 million from $111.8 million.
Total sales were up 5% (+7% CC) to €669.7 million ($728.7 mm) from €638.3 million for the third quarter, including 6% growth from the Moncler brand were to €561.2 million, while Stone Island dipped 1% to €108.5 million.
Net income improved by 45% to $4,275,000 in the third quarter from $2,958,000 last year helped by significantly improved product margins, as revenues slipped 2% to $73,358,000 from $74,904,000.
ManU’s commercial revenue grew 6% to £67.4 million ($73.3 mm) in the final fiscal quarter ended June 30, as retail, merchandising, apparel & product licensing inched up 3% to £27.1 million ($29.5 mm), driven by more home match days throughout the year.
Revenues at Olin Corp.’s ammunition segment dipped 8% to $380.2 million in the third quarter from $414.1 million prior, as lower commercial sales more than offset growth in the domestic and international military segment.
The action sports brand is bolstering its sales, marketing and product teams with several new hires and promotions.
Following the completion of its acquisition by Authentic Brands Group, Boardriders is permanently laying-off 84 employees, including eliminating some C-suite positions, according to a WARN notice filed in CA.