Thule Group reported a 20 percent increase in net income to 203 million Swedish kronor (€21.0m-$22.9m) for the first quarter of 2017 on a 15.9 percent sales increase to SEK 1,599 million (€165.7m-$180.6m). Currency-adjusted, the quarterly sales rose by 12.3 percent and led to an improvement in the underlying profit margin of 0.3 percentage points to 14.0 percent. The Outdoor & Bags segment of the group posted a currency-neutral increase of 14 percent. In contrast with previous trends, sales rose by 7 percent in the Americas in terms of local currencies, in spite of the difficult retail environment in the U.S.. Sales in Europe and the rest of the world grew by 17 percent in constant currencies, but the management warned that the market is unlikely to progress at a similar rate for the balance of this year. More in The Outdoor Industry Compass.

Topics