Sporting Goods Industry News for April 25, 2024
Net income increased 29% in Q1 to $206,622,000 from $160,443,000 on sales that were up 13% to a quarterly record $2,251,587,000 from $2,001,928,000, helped by a wholesale rebound in both domestic and international markets.
Net income slipped 8% in the first quarter to $42,300,000 from $46,202,000 on 6% lower revenues of $769,982,000 compared to $820,593,000 as falling wholesale orders more than offset growth in direct-to-consumer.
Revenues at Olin Corp.’s ammunition segment increased by 12% in the first quarter to $409.4 million from $366.5 million, with both commercial ammo shipments and military sales higher, and a boost from sales of White Flyer, which was acquired in Q4 ‘23.
Net income was $1,775,000 for the first quarter against a loss of $952,000 last year, as revenues inched up 1% to $57,304,000 from $56,931,000 on higher demand for basketball, table tennis, archery and outdoor games.
Yue Yuen announced that its net income attributable to shareholders would be up about 90-95% to approximately $99.1 million from $50.8 million, driven by its order book normalizing as the global footwear industry recovers.
The Eager Beavertons signed the Iowa star and Indiana Fever rookie to a long-term endorsement deal that is reportedly worth $28 million over eight years, and includes her own signature shoe.
The ratings agencies weighed in on Vail’s $600 million offering of 6.5% senior unsecured notes due 2032, with Moody’s giving them a Ba3 rating and S&P rating them BB.
Crosman is recalling about 2,500 Icon air rifles because they can discharge unexpectedly if jolted or dropped when uncocked and loaded, and will provide owners with a full refund.
|