JOUT - Why Outdoor Recreational Products Maker Johnson Outdoors' Stock Is Sinking Today | Benzinga
Johnson Outdoors Inc (NASDAQ: JOUT) reported a fourth-quarter FY23 sales decline of 51% year-over-year to $96.34 million, missing the consensus of $121.03 million.
Earnings per share loss was $(1.56) below the consensus of $(0.32).
Gross margin contracted 550 bps to 29.5%, primarily due to lower sales, increased inventory reserves, and unfavorable overhead absorption. Gross profit was down 58.6% Y/Y to $28.39 million.
Operating expenses decreased by $4.3 million or 7.8% ...