Escalade, Inc. reported that fourth quarter net sales declined 14.5% to $57.6 million from $67.3 million in Q4 last year, due primarily to a shift in timing in sporting goods sales. The Escalade Sports division reported that net sales declined 19% to $37.3 million for the fourth quarter on top of a 1.5% dip in sales in fourth quarter 2003.
ESCA full year net sales rose 2.0% to $220.7 million, compared to $216.3 million in 2003. The Escalade Sports group contributed nicely to that gain, outpacing the Office Products segment with a 5.0% increase for the year to $141.6 million on top of a 10% increase in sales in the prior year.
Management said in a release that retail inventories in sporting goods are at “relatively overall normal levels” so they may not see gains in the first half of 2005 a the same rate as H1 2004 when inventory levels were lower. They have cautious optimism for the year.
