Clarus Corp rises after upbeat annual sales forecast

Clarus

08/03/2022 14:24

** Shares of outdoor equipment maker  CLAR.O  jump ~9% to
$22.50 premarket, as co forecast fiscal 2022 sales above
estimates on Monday after markets closed  urn:newsml:reuters.com:*:nGNX8cdmm3
    ** Co expects 2022 sales to grow about 25% to $470 mln,
exceeding analysts' expectations of $450.8 mln, per Refinitiv
IBES data
    ** CLAR also beat Q4 sales and profit estimates, helped by
strong consumer demand for outdoor products and the expansion of
retail partnerships
    ** "We continue to believe Clarus's super-fan brand
portfolio, multichannel distribution platform, and outdoor
industry focus are well positioned to succeed in the coming year
and over the long term" - William Blair analyst Ryan Sundby 
    ** Up to Monday's close, stock had fallen ~26% this year,
after having gained 80% in 2021

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))