Johnson Outdoors down after Q4 loss widens
10/12/2024 14:54
(Updates)
** Shares of fishing and camping equipment maker Johnson
Outdoors JOUT.O fall as much as 13% to $29.98 in early trade;
hit their lowest since Aug. 2016
** Co posts Q4 net loss of $34.3 mln compared with a loss of
$16 mln a year ago
** Says profit was hurt by increased promotional pricing,
changes in product mix toward lower margin products, and
inventory reserves on slow-moving and obsolete products
** However, net sales for the quarter rose 9.9% to $105.9
mln
** Up to Monday's close, stock has fallen 35.5% YTD
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))