Contrasting fortunes for Rapala and Shimano in 2014
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Fishing giants Rapala VMC Corporation and Shimano experienced contrasting financial fortunes in 2014.
In what has been described as a ‘challenging year’ for the Finnish lure maker, Rapala finished 2014 with net sales of €273.2 million – down 5% on 2013, while Shimano’s fishing tackle sales for the same period increased 10.2% to 58,825 million yen.
In the final period of the year net sales at Rapala were also down 3% from the previous comparable quarter. However, the company adds that with comparable exchange rates, sales were at last year’s levels for the quarter and year.
President and CEO Jorma Kasslin said: “2014 has been challenging and development of our business was mixed. In several markets in Europe, Asia and North America there is good momentum and sales have developed well.
“At the same time some of our biggest markets, such as Russia, are suffering a lot from the economic and political uncertainties. Here in Finland the lack of proper winter weather has hurt our winter sports business this year.”
In its financial report Shimano echoed concerns surrounding the situation in Russia, but added that overseas sales in North America and Asia were ‘robust’.
The Jarden Corporation, owner of Pure Fishing, reported that for the year ended December 31st 2014 its net sales grew 12.7% to $8.29 billion.
The Outdoor Solutions segment of the business, which includes the corporation’s fishing operations, saw its sales for the year reach $2.74 billion, a rise of $14.8 million.
US retailer Cabela’s blamed a ‘wickedly competitive’ holiday shopping season for a fourth quarter drop in sales. Net income fell 1.9% to $78.6 million compared to the same period in the previous year.
Chief Executive Officer Tommy Millner told analysts that Cabela’s had to ‘jump into the fight’ when competitors started ‘cranking up offers to the point where they were almost ridiculous, weeks ahead of Black Friday’.
Columbia Sportswear Company saw its fourth quarter net sales grow 27% to a record $677 million, as sales from its Prana brand and new joint venture in China added 15% organic sales growth.