Johnson Outdoors fishing brands enjoys ‘unprecedented’ growth
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‘Unprecedented’ growth in its flagship fishing brands helped US-based Johnson Outdoors deliver record third quarter sales.
Revenues across its Humminbird, Minn Kota and Cannon brands grew by 17.3% to $121.9 million, increasing the group’s overall sales by 10% to $170.8 million. Operating profit rose by 29.6% to $32 million.
“Unprecedented growth in our fishing brands throughout the year underscores the importance of our ongoing emphasis on consumer insight-driven innovation,” said Helen Johnson-Leipold, Chairman and CEO of Johnson Outdoors. “Delivering this same level of continuous new product success across our entire brand portfolio is a key priority and we are working to further strengthen organisational capacity and capability to do so.”
In the Watercraft Recreation segment, sales fell 18.4% to $14.1 million. Johnson-Leipold added that a focus on new products is enabling the group to maintain its market position against a ‘tide’ of a very weak market and challenging’ conditions.
For the last two years Johnson Outdoors has been investing in its online operations and it has entered the implementation phase which is seeing it begin to experience an ‘uptick’ in e-commerce sales across the group.