Pacific Brands group, the Australian licensee of Dunlop, Everlast, and Hush Puppies, reported first half net profit was A$54.1 million ($39.7 mm), rising 35.6% over last year. This jump has resulted in EPS of A10.8 cents (7.9 cents).
Outerwear and Sport sales fell to A$147.1 million ($108 mm) from A$167.0 million ($115 mm), a drop of 11.9%. The sporting goods hardware market was flat and bike sales were impacted by a poor delivery performance and a bike recall, but Pacific Brands reported growth in the Everlast, KingGee, and Stubbies brands.
Footwear sales rose 5.6% from A$134.7 million ($93 mm) in the year-ago to A$142.3 million ($104 mm) for the half. Pacific Brands management said that changing the mix from unbranded to branded product “continues to be successful”. Athletic footwear under the Dunlop brand, which includes Dunlop Volley and KT26, are now managed by this operating group to capitalize on back end synergies. Dunlop Footwear was previously reported in the Outerwear and Sport Group.
