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Sep 29, 2023
Johnson Outdoors Q4 2023 Earnings Report
Johnson Outdoors experienced a decrease in revenue and earnings due to the end of elevated pandemic-driven demand and higher retail inventory levels.
Key Takeaways
Johnson Outdoors reported lower revenue and earnings for fiscal year 2023, with Q4 being significantly impacted by slower demand. Total Company revenue fell 11 percent to $663.8 million, while operating profit decreased $54.6 million, or 82 percent, and net income fell $25.0 million, or 56 percent, over the prior fiscal year.
Fiscal year 2023 sales decreased by 11% compared to the previous year.
Operating profit for fiscal year 2023 decreased by $54.6 million, or 82%.
Net income for fiscal year 2023 fell by $25.0 million, or 56%.
Fiscal fourth quarter was particularly impacted by significantly slower demand.
Johnson Outdoors
Johnson Outdoors
Forward Guidance
Heading into fiscal year 2024, the company focuses on carefully managing higher-than-normal inventories and improving profitability with a defined cost savings program in place and prudent expense management.