Interviews
News Flash
Heelys brand resonates very well in Europe with target consumer
05 Mar '08
4 min read
Ralph Parks, Interim Chief Executive Officer of Heelys Inc commented, “Our fourth quarter results reflect the ongoing challenge to bring retail inventories more in-line with consumer demand. While our sales and earnings were negatively impacted by higher returns and increased markdown assistance, we are pleased that we ended the year with more appropriate inventory levels across the majority of our channels of distribution.
Importantly, during this time we continued to make key investments in our operating platform in order to drive greater awareness for our brand and products, improve our execution and efficiency, and create a stronger, more well balanced Company for the future.”
For the full year, net sales were $183.5 million compared to net sales of $188.2 million in 2006. Gross profit for fiscal 2007 was $58.1 million, or 31.6% of net sales, compared to $65.6 million, or 34.9% of net sales in fiscal 2006.
Total SG&A for the full year was $26.1 million, or 14.2% of net sales, compared to $20.1 million, or 10.7% of net sales a year ago. Net income was $22.3 million, or $0.79 per diluted share in fiscal 2007, compared to $29.2 million, or $1.16 per diluted share in fiscal 2006.
Mr. Parks concluded “We began 2007 with a lot of positive momentum in our business which translated into a very strong first half of the year. Despite the slowdown we experienced over the past 6-months we continue to be very confident about our long-term potential and we remain excited about the many opportunities we still believe exist for our Company.
We are very focused on working more closely with our retailers to find the right balance of inventory for the marketplace while at the same time developing more innovative and exciting products, including both wheeled and non-wheeled footwear. We are also committed to growing our presence overseas, with a particularly focus on Europe where the brand has resonated very well with our target consumer. Looking ahead, this entire organization is committed to improving on our recent performance and returning greater value to our shareholders.”
Importantly, during this time we continued to make key investments in our operating platform in order to drive greater awareness for our brand and products, improve our execution and efficiency, and create a stronger, more well balanced Company for the future.”
For the full year, net sales were $183.5 million compared to net sales of $188.2 million in 2006. Gross profit for fiscal 2007 was $58.1 million, or 31.6% of net sales, compared to $65.6 million, or 34.9% of net sales in fiscal 2006.
Total SG&A for the full year was $26.1 million, or 14.2% of net sales, compared to $20.1 million, or 10.7% of net sales a year ago. Net income was $22.3 million, or $0.79 per diluted share in fiscal 2007, compared to $29.2 million, or $1.16 per diluted share in fiscal 2006.
Mr. Parks concluded “We began 2007 with a lot of positive momentum in our business which translated into a very strong first half of the year. Despite the slowdown we experienced over the past 6-months we continue to be very confident about our long-term potential and we remain excited about the many opportunities we still believe exist for our Company.
We are very focused on working more closely with our retailers to find the right balance of inventory for the marketplace while at the same time developing more innovative and exciting products, including both wheeled and non-wheeled footwear. We are also committed to growing our presence overseas, with a particularly focus on Europe where the brand has resonated very well with our target consumer. Looking ahead, this entire organization is committed to improving on our recent performance and returning greater value to our shareholders.”
Heelys Inc
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