November 01, 2023
After last month’s surprise revelation that VSTO intends to sell its ammunition business, the company reported that net income in the fiscal second quarter ended Sep. 24 was halved to $44,422,000 from $93,455,000, on 13% lower revenues of $676,808,000 against $781,678,000.
Net income decreased 18% to C$4.1 million ($3.0 mm) in the fiscal second quarter ended Oct. 1, from C$5.0 million prior, on revenue that was up 1% (-3% CC) to C$281.1 million ($209.0 mm) from C$277.2 million, as the strengthening Euro against the Canadian dollar impacted results on a constant currency basis.
Improving margin profiles sent net income up 20% to $6,827,000 from $5,691,000 in Q3 even as the top line shrank 15% to $125,614,000 from $147,486,000, on 17% lower wholesale revenue of $99.7 million and a 5% gain in retail to $24.5 million.
Competing in a “challenging, promotion-rich” firearms marketplace, RGR’s net income fell by 60% to $7,431,000 in Q3 from $18,389,000, on 13% lower revenues of $120,893,000 compared to $139,390,000 in a seasonally slow quarter.
GRMN’s Fitness segment sales were up 26% to $352,976,000 from $279,875,000 in Q3, driven by growth across all categories, led by strong demand for wearables.
After a blistering start to the year that saw the running brand’s Q1 sales jump 20%, Brooks’ growth has slowed a bit, tallying a 5% improvement in the first nine months of 2023, including 7% higher North American sales.
MODG will pay about $29 million for certain assets from Invited, Inc., namely four BigShots Golf off-course golf locations, including one owned venue, three franchised venues, and development rights for other potential venues.
Handgun imports inched down 1% in June to 335,935 units, according to ITC data compiled by the NSSF, including a 5% drop in pistol imports to 294,424 units, while revolvers went up 50% to 41,511 units.
Hap Klopp is teaming-up with British entrepreneur Kim Winser OBE, and George Gregan, co-owner and director of the down-under Bahe yoga brand, to develop and introduce a new apparel collection.