By Adriano Marchese
Johnson Outdoors reported on Monday a loss in the first fiscal quarter as competitive pressures and cautious consumer spending weighed on sales.
The outdoor recreational products company swung to a net loss of $15.3 million, or $1.49 a share, in the three months ended Dec. 27, compared with a profit of $4 million, or 38 cents a share, in the same quarter a year ago.
Johnson said that the first quarter is usually the slowest, but this quarter it also blamed a cautious retail and trade channel environment, as well as competitive pressures which pushed sales and profitability lower.
Sales fell 22% to $107.6 million. The biggest hit was in its fishing segment, which saw a 25% decline due to continued challenging market and competitive dynamics, while its camping and watercraft unit declined 12%. Diving sales fell 10%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 03, 2025 06:35 ET (11:35 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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