On its third quarter conference call, Easton-Bell Sports Inc. noted the economy has taken a “significant downturn” since September, but it was able to deliver a solid third quarter with the help of new products. As reported last week, Easton-Bell's sales increased 7.8% to $203.4 million. Revenues grew 6.3% to $112.6 million in team sports and 9.8% to $90.8 million in action sports.
On its call, Paul Harrington, Easton-Bell 's president and CEO, said the company's football business “performed well in the quarter, even after coming off a record setting second quarter.” But “very strong” results in ice hockey, particularly in international markets, was helped by a number of new product introductions. The recently introduced S19 stick has experienced “strong demand” and the company started shipping its new line of hockey helmets during the quarter.
The baseball/softball market has been soft in the U.S. and sales are down low-single-digits year-on-year. However, Harrington said that after meeting with key retailers, he is “optimistic that the product strategies and brand marketing [Easton outlines] will prove successful in the marketplace going forward.”
Sales of Giro branded eyewear “continue to gain momentum.” During the quarter, Easton-Bell shipped its first cycling products for Target. Giro branded cycling and snow helmets overall experienced double-digit growth year-to-date.
