Acushnet’s loss pulled parent Fila Holdings’ bottom line KRW 8,066 million ($6.8 mm) into the red in the final quarter, against a profit of KRW 17,604 million prior, despite an 8% improvement in revenue to KRW 859,258 million ($726.1 mm) from KRW 796,462 million. Gross margin narrowed by 170 basis points to 47.3%, and operating profit margin was just 2.9%, but would have been 13.2% without Acushnet. Licensing royalties slipped 5% to KRW 17,400 million, with a 33% decline in North America from the expiration of the Kohl’s license, and 4% drop in EMEA due to Covid outbreaks more than ... Log in to view full article.