Dec 09, 2024
Johnson Outdoors Shares Slide After Q4 Earnings Miss, Hit By Market Challenges And Lower Margins
Johnson Outdoors Inc (NASDAQ:JOUT) shares plunged after the company reported its fourth-quarter 2024 results. The company’s sales grew 9.9% year-over-year to $105.9 million, missing the consensus of $114.99 million. Loss per share was $3.35, missing the consensus loss of $0.98. Gross margin contracted 600 bps to 23.5%, primarily due to higher promotional discounts, a shift in product mix favoring lower-margin items, and inventory reserves for slow-moving and obsolete stock. Gross profit was down