October 27, 2023
NWL’s Outdoor and Recreation segment revenues tumbled 20% (-21% constant currency) in the third quarter to $231 million from $289 million, generating an operating loss of $42 million against a profit of $6 million last year.
Net income skyrocketed 91% to SEK 262 million ($24.2 mm) in the third quarter against SEK 137 million, on revenues that grew 8% to SEK 2,311 million ($213.8 mm) from SEK 2,139 million, primarily driven by strong demand in Europe.
Despite a 30% decline in third-quarter revenues to 28.7 million Swedish kroner ($2.7 mm) and a corresponding operating loss of SEK 2.4 million, Polygiene is optimistic about Q4 results as early orders have exceeded expectations.
Kingswood Capital-owned Mountain Equipment Company promoted its COO and CFO Peter Hlynsky to the top job, succeeding Eric Claus, who led the retailer’s transition from co-op to private company.
Tanger Outlets has opened a new outlet mall in Nashville, TN, its thirty seventh and first to open since before the pandemic hit four years ago.