Strong Retail Performance
Retail sales increased by 20.5% to $36.6 million, driven by healthy demand across multiple brands, particularly XTRATUF and Muck.
Record Gross Margin
Achieved the highest gross margin ever reported in Q1 at 41.2%, up from 39.1% in the previous year.
Significant Increase in Adjusted Net Income
Adjusted net income for Q1 2025 was $5.5 million or $0.73 per diluted share, compared to $3.1 million or $0.41 per diluted share a year ago.
Reduced Interest Expense
Interest expense decreased to $2.4 million from $4.5 million in Q1 2024, due to a prior debt refinancing and lower debt levels.
Diversified Sourcing Strategy
Accelerating efforts to reduce product sourcing from China by shifting production to Vietnam, Cambodia, India, Dominican Republic, and Puerto Rico.