New Wave Group said sales at its Sports & Leisure apparel segment increased 11 percent to SEK 674.1 million ($80 mm) in the third quarter ended Sept. 30.
Excluding a major order placed in the year ago quarter, sales would have grown 10 percent.
While the Swedish company did not break out currency impacts at the segment level, it disclosed that currency translation accounted for 61 percent of its growth in the quarter, or 8 of 13 percentage points. New Wave's consolidated sales in the United States increased 17 percent in reported terms, but declined 4 percent in currency-neutral terms.
The segment owns the Ahead, Annika and Cutter & Buck golf apparel and accessories brands, Canada's Auclair glove brand, and Craft, a maker of performance base layers and apparel that is distributed through specialty cycling, outdoors, running and snow channels.
The segment has a significant portion of its sales in the American market and the exchange rates inflated sales growth. Sales grew in promo sales channel but declined in the retail channel.
Earnings before income taxes, depreciation and amortization (EBITDA) increased 4.0 percent to SEK 77.8 million ($9 mm), or 11.5 percent of revenue. New Wave said earnings grew despite increased sales and marketing costs.
During the January-September period sales increased by SEK 1.72 billion ($204 mm), or 19 percent, again due primarily to gains in the promo sales in the United States and Europe. EBITDA increased 10.4 percent to SEK 113.3 million ($13 mm).
