Sunday, December 16, 2018

Fishing division steers Johnson to another record year

Booming business for Minn Kota & Humminbird
originally posted in Angling-International

Johnson Outdoors’ flagship fishing division, which includes the likes of Humminbird and Minn Kota, helped the group deliver record results for the second year in a row.
Strong demand for its products, and those in the company’s diving brands, propelled an 11% increase in sales. Operating profit for the year grew 38%.
“Unprecedented growth in our fishing business has driven record results for the second year in a row on the strength of revolutionary consumer-driven innovation. Our goal is consistent, bigger, better new product success like this across our entire brand portfolio,” said Helen Johnson-Leipold, Chairman and Chief Executive Officer.
“Importantly, deeper, richer consumer understanding is at the core of everything we do. Going forward, our ability to connect with more consumers in new, more meaningful ways will enable us to fully leverage and maximise investments in digital transformation, marketing sophistication and e-commerce to enhance performance in all segments and channels.”
The company also reported that its Watercraft Recreation business, which includes its fishing kayak brands, saw declines across all segments which had a negative impact on its revenue.
It has also been announced that a former CEO of sports giant Nike has been appointed to its Board.
William Perez was also President and CEO of S.C. Johnson & Son, the $10b sales household cleaning supplies multi-national, from 1996 to 2004. After leaving to join Nike, he then became President and CEO of chewing gum maker, Wm. Wrigley, from 2006 to 2008. He was also a senior advisor at New York Investment banker, Greenhill and Co., from 2010 until last year.
In 2017 he founded FamGen, a firm specialising in consulting family-owned businesses on strategy, planning and global expansion
“Bill is a proven business leader who brings a wealth of knowledge and expertise in all facets of running a global company,” said Johnson-Leopold. “We will benefit from his insights and counsel as we develop new strategies to enhance value to our market and consumers.”

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