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Sep 27, 2024
Johnson Outdoors Q4 2024 Earnings Report
Johnson Outdoors' Q4 results were impacted by increased promotional pricing, changes in product mix, and inventory reserves, leading to an operating loss.
Key Takeaways
Johnson Outdoors reported a net sales increase in Q4, but experienced a significant operating loss due to lower gross margins and increased operating expenses, including a goodwill write-off.
Total Company net sales increased to $105.9 million compared to the prior year fourth quarter.
Operating loss was ($42.8 million), which compared unfavorably to a loss of ($22.6 million) in the prior year fourth quarter.
Gross margin declined because of increased promotional pricing, changes in product mix toward lower margin products, and inventory reserves.
Operating expenses increased primarily due to a goodwill write-off.