Net loss for the fiscal fourth quarter ended Apr. 30 narrowed to $3,836,000 from a loss of $76,686,000 last year that included a goodwill impairment charge of $67.8 million, as sales dropped 8% to $42,203,000 from $45,893,000. Sales came in ahead of guidance in the pressured environment of inflation and retailer destocking, with shooting sports down 8% and outdoor lifestyle down 9%. Gross margin improved 140 b.p. to 45.2%, led by easing freight costs. SG&A inched down 1%, deleveraging 350 b.p. to 51.2% of sales.

For the full year, net loss narrowed ... Log in to view full article.