JOUT’s bottom line swung to a loss of $16,007,000 from a profit of $9,653,000 in the final fiscal quarter ended Sep. 29, on revenue that was more than halved to $96,345,000 from $196,389,000, primarily driven by the end of the pandemic-fueled demand over the past few years combined with higher inventory levels at retail. Despite reducing operating expenses by 8%, declining sales, increased inventory reserves, and unfavorable overhead absorption reduced gross margin by 550 basis points to 29.5%. Most categories were down, as fishing segment sales plummeted 59% to $62.1 million ... Log in to view full article.