American Outdoor Brands’ net loss widens despite improved sales

(Source: American Outdoor Brands)

American Outdoor Brands has reported higher net loss for the fourth quarter despite an increase in sales.

The company’s net loss for the quarter ended April 30 was $5.3 million compared to net loss of $3.8 million in the prior-year period.

Meanwhile, net sales rose 9.7 per cent to $46.3 million, with traditional channel sales growing 26.3 per cent and e-commerce sales decreasing 9.6 per cent.

For the full year, net sales were up 5.2 per cent to $201.1 million, while net loss edged up to $12.2 million from $12 million in the previous year.

Brian Murphy, president and CEO of American Outdoor Brands, attributed the sales growth to new product launches across several brands including Bubba, Caldwell, Grilla, and Hooyman.

“Throughout the year, we remained focused on ensuring that our brands were increasingly accessible to a broader audience of consumers, both in-store and online,” Murphy added.

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