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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.