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Author Topic:  Rapala Reports Level Sales, But Says U.S. Tackle Industry "In Turmoil"  (Read 626 times)

Offline Jared

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January-March (Q1) in brief:

  •     First quarter net sales were 69.5 MEUR, at last year's level (69.7). With comparable exchange rates sales down 4%.
  •     Following the recent changes in the US retail environment, the Group's 2017 full year outlook has been updated: Full year net sales are now expected to be above last year's level and comparable operating profit below last year level. Outlook will be specified as the season progresses.
  •     The leverage ratio (net debt to EBITDA) continues to be high and the Group has agreed with its lenders on higher covenant levels covering also first quarter of 2017.
  •     Various initiatives relating to execution of the Group's updated strategy are proceeding and progress will be communicated in more detail later during the year.


President and CEO Jussi Ristimäki: "With support of favorable exchange rates, the first quarter sales were at last year's level and quite well in line with expectations in many respects. The positive highlights of the period included good sales of ice fishing and winter sport products as well as Marttiini knives and Dynamite Baits' products. Sales developed well in Canada, Norway and Portugal, among others.

Simultaneously, the beginning of the year was shadowed by the rapid changes in the retail environment in the US. The US retail scene is disrupted by digitalization and these changes were now showing fast-increasing effects also on the fishing tackle business. Some major retailers' and distributors' financial challenges are causing significant turbulence in the market and affected the sales negatively. The year also started slower than expected in Europe's big markets. In France sales were burdened by tough competition and continuing depressed market sentiment. In Russia, the strengthening of the ruble did not give the anticipated boost to the consumer demand.

Linkback: https://fishinpedia.com/bass-fishing-forums/fishing-industry-news-fishinpedia/54/rapala-reports-level-sales-but-says-u-s-tackle-industry-in-turmoil/2064/

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Offline nwgabassmaster

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Honestly, this doesn't surprise me.  You have certain tackle companies that have a great following with hardcore supporters, but their prices are outrageous, and then you have the middle level tackle companies that have way too many products for anglers to choose from, and end up getting swamped under due to an excess of stock that isn't moving on store shelves.

Then, you have those companies that are pricing themselves out of the market by asking a ludicrous amount of money for certain lures. 

Stabilize the pricing, the selection, etc., and the market will rebound. 

Tags: rapala 

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