Johnson benefits from surge in outdoor pursuits to record 58% rise in Q4 revenue
Johnson Outdoors has been a major beneficiary of the surge in outdoor pursuits following the COVID-19 pandemic, recording a 58.3% rise in revenue in the fourth quarter, led by its fishing, watercraft recreation and camping divisions.
The period is traditionally in ‘ramp-down’ mode and sales are historically lower, but due to COVID-19, the business experienced increased demand during the final months of its fiscal year. Fishing division sales grew 70.3% to $113.9m from $66.9m. The segment includes Minn Kota fishing motors, batteries and anchors, Cannon downriggers and Humminbird marine electronics and charts.
The watercraft segment, which includes Old Town Canoes and Kayaks and Ocean Kayak, saw a sales surge of 149% to $15.6m compared to $6.3m in the last comparable year.
‘Strong demand in fishing, watercraft recreation and camping continued into the fourth quarter and the challenge has been keeping pace with demand,” said Helen Johnson-Leipold, Chairman and Chief Executive Officer.
For the year, total company revenue grew 6% to $594.2m against the 2019 figure of $562.4m. Total company operating profit came in at $71.1m, comparing favourably with the $63.8m in the previous year.
“The 2020 fiscal year was like no other year in our history. We started it with a very strong first quarter, but the onset of the pandemic and the initial stay-at-home mandates cut short our momentum and significantly impacted our second and third periods – the heart of our primary selling season. As those mandates eased, we saw demand increase and participation grow in fishing, camping and watercraft recreation,” added Johnson-Leipold.
“This positive late-season momentum resulted in a strong finish to the year.”