American Outdoor Brands bullish despite sales drop
Brick and mortar sales were among the positives in American Outdoor Brands’ (AOB) recently reported first quarter figures.
The ICAST award-winner’s traditional channel net sales increased 8.4%, while e-commerce net sales declined 10.6%.
Quarterly net sales of $43.4m outpaced the consensus estimate of $42m, but declined year-on-year by 0.5%, due mainly to a decrease in the shooting sports category.
AOB remains bullish about the future outlook, with CFO Andrew Fulmer, saying: “We believe our brands remain well positioned to capitalise on positive long-term consumer outdoor participation trends. As a result, we believe our net sales for fiscal 2024 could exceed 2023 by as much as 3.5%.
“Our solid financial position enables us to continue investing in our business, returning capital to our stockholders and addressing the exciting growth opportunities we have identified.”
AOB’s President and CEO, Brian Murphy, said the company continued to benefit from its strategy to place its brands where consumers expect to find them, whether online or instore.
“While e-commerce net sales declined, traditional channel net sales growth was strong, supported by new product introductions in fishing and hunting,” he added.