Fishing brands post 18% sales rise as Johnson enjoys strong Q2

Fishing revenue at Johnson Outdoors – one of the world’s leading suppliers of outdoor leisure equipment – enjoyed an 18% increase in sales during the company’s second quarter of trading.

The sector, which includes the Humminbird, Minn-Kota and Cannon brands, helped Johnson post a $10.2m profit before tax compared to $4.2m in the previous comparable Q2 thanks mainly to improved trading conditions, a stronger competitive position in the market and pricing.

Its Camping and Water Recreation division, which boasts Old Town – the world’s oldest and largest maker of fishing canoes and kayaks – saw sales rise 1% as a result of increased e-commerce revenue.

Net sales for the year to date were $335.4m – a 21.5% increase over the last comparable period. Profit before income tax was $9m against a loss before tax of (14.8m) in the previous comparable period.

“We delivered a strong second quarter with growth across all our business segments as retail conditions improved and our innovation continued to perform well,” said Helen Johnson-Leipold, Chairman and CEO. “We are proud of our market-leading brands that continue to resonate with consumers.

“By staying focused on disciplined execution of our strategic priorities and strengthening our competitive position, we are confident that we are taking the right actions to navigate the current macroeconomic environment while building long-term resilience.”

Chief Financial Officer, David W. Johnson, added: “Our ongoing efforts to strategically manage costs helped boost margins in the second quarter. At the same time we are seeing increased cost pressures along with a modest growth in inventory as we prepare for the upcoming selling season.

“Despite uncertainties in the broader economic environment, we remain focused on our financial discipline and will closely manage the business to balance near-term pressures with long-term value creation.”