FINANCIAL NEWS
Jarden sales ahead
Rapala releases
Q3 results
GLOBAL giant Rapala has
SINCE the addition of Pure Fishing, Penn, and its other ‘Outdoor
released its third-quarter results.
Solutions’ brands, Jarden Corporation has seen revenues soar.
Net sales for the third quarter
For the nine months ending September 30th, 2008, net sales
reached a new record at €52.7
increased 26 per cent to $4 billion compared to $3.2 billion for the
million and net sales for the fi rst
same period in the previous year. For the fi rst three-quarters of 2008,
nine months of 2008 increased 2
net income was $111.5 million, compared to net income of $39.3
per cent to €192.1 million. With
million, for the fi rst nine months of 2007.
comparable exchange rates, the
T_h e Pure Fishing and K2 businesses, including Penn, were
nine-month net sales were up
included in the results of operations from their dates of acquisition
7 per cent. Operating profi t
in April 2007 and August 2007, respectively.
for the fi rst nine months was
“During the second quarter we achieved
up 8 per cent to €28.1 million.
Comparable operating profi t
top-line improvements in our direct and
improved to €28.4 million.
retail businesses, despite a continued
Net profi t for the third-
quarter increased to €2 million
diffi cult macro-economic environment.”
and €18.2 million for the fi rst
nine months of the year.
For the third quarter, sales increased 10 per cent to $1.5 billion
T_h e Rapala group continues
compared to $1.3 billion for the same period in 2007.
to implement its stategy for
Net income in the third quarter of 2008 was $63.8 million,
profi table growth.
compared to net income of $21.2 million for the same period in
According to Rapala the
2007.
market outlook for the fourth
Besides its outdoor-sports companies, Jarden also owns Mr Coff ee,
quarter continues to look
Crock Pot and many other consumer brands.
challenging.
“Our diversifi ed business model delivered another record quarter,”
A carefully worded report
said Martin E Franklin, CEO of Jarden.
to investors said: “Despite the
“We attribute this success to the strength of Jarden’s leading brand
challenging market conditions,
portfolio and the relevance of our products to the consumer in these
the profi tability of the group’s
tough economic times, coupled with our disciplined, conservative
ongoing operations continues to
management approach.”
be good. Special initiatives have
been, and will be, implemented
to further improve the
Big 5 sales shrink
profi tability.
“It’s expected that the group’s
net sales for the fi nancial year
2008 will increase 5 to 10
BIG 5 Sporting Goods million for the third quarter of per cent from 2007 assuming
Corporation, a chain in the 2007. comparable exchange rates.
western United States, saw 2008 For the 39-week period With comparable exchange rates
third-quarter net sales sink to ending September 28th, 2008, and excluding non-recurring
$223.2 million, compared to net sales decreased $21.2 million, items, the operating margin for
net sales of $231.3 million for or 3.2 per cent, to $645.0 2008 is expected to improve
the third quarter of fi scal 2007. million, from net sales of $666.2 from 2007.
Same-store sales declined 6.6 million for the same period last “If the US dollar stays at
per cent for the third quarter, year. Same-store sales decreased current levels or strengthens, it
following a decrease in customer 6.5 per cent in the fi rst 39 weeks will positively aff ect the reported
traffi c. of 2008 versus the same period net sales and operating profi t for
Gross profi t for the 2008 last year. Net income for the fi rst the fourth quarter.
third quarter was $74.3 million, three quarters of 2008 was $10.3 “Price increases for 2009
compared to $79.4 million in million, compared to net income have been agreed but due to
the third quarter of the previous of $21.9 million for the same uncertainties in the world
year. T_h e company’s gross profi t period in 2007. economy, it is too early to give
margin was 33.3 per cent in the During the third quarter of accurate guidance for next year.”
2008 third quarter versus 34.3 2008, the company opened three TTW believes that Rapala
per cent in the third quarter of new stores and closed a store continues planning and
2007. that was relocated during the negotiations regarding further
Net income for the third second quarter. Big 5 ended the acquisitions and business
quarter of 2008 was $4.5 million, third quarter with 372 stores in combinations to further grow its
compared to net income of $8.4 operation. business.
JANUARY 2009 | TTW 07
P06-07_TTW_01_News finance.indd 2P06-07_TTW_01_News finance.indd 2 19/11/08 1:53:23 pm19/11/08 1:53:23 pm
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