Wholesale sales for the fourth quarter increased 3.4 per cent to $45.9 million compared to $44.4 million for the same period in 2017. Retail sales for the fourth quarter increased 14.6 per cent to $16.5 million compared to $14.4 million for the same period last year. Military segment sales for Q4 were $4.8 million compared to $8.2 million in Q4 2017, the company said in a press release.
For 2018, wholesale sales increased 3.9 per cent to $173.1 million compared to $166.7 million for 2017. Retail sales increased 10.1 per cent to $53.2 million compared to $48.4 million for the same period last year. Military segment sales were $26.4 million compared to $38.2 million in 2017.
“Our fourth quarter sales performance was fueled by mid-teens growth of our retail segment as our Lehigh CustomFit programme continues to gain traction with existing and new accounts. At the same time, our wholesale business posted a solid gain driven primarily by robust demand for our hunting and commercial military categories,” said Jason Brooks, president and chief executive officer.
“The significant improvement in profitability for both the fourth quarter and full year demonstrates the progress we’ve made enhancing our gross margins through segment mix, increased manufacturing efficiencies and improved full priced selling combined with tightly managing operating expenses. Looking ahead, we see an opportunity to accelerate top-line growth by reinvesting a portion of our recent earnings in additional marketing support for our portfolio of authentic brands and differentiated direct business-to-business model. We believe we have the right strategies in place to build on our recent momentum and continue generating increased value for our shareholders over the long-term,” added Brooks. (PC)
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