Johnson Outdoors sinks after supply chain snarls hit sales
09/05/2022 13:33
** Fishing and camping equipment maker's shares JOUT.O
fall ~36% to $48 premarket
** Stock set to open at lowest since July 2017
** JOUT's Q2 sales fall 8% to $189.6 mln, as supply chain
problems hamper company's ability to meet consumer demand
urn:newsml:reuters.com:*:nGNX27jnRW
** Company's gross margin falls to 36.2% on higher material
and freight costs
** JOUT is maintaining higher inventory levels and seeking
alternative sources for key components where possible - CFO
David Johnson
(Reporting by Deborah Sophia in Bengaluru)
((DeborahMary.Sophia@thomsonreuters.com))