Russell Corporation reports increased sales

20/02/2006

Branded athletic and sporting goods company Russell Corporation has reported fourth quarter sales of $354.6 million for fiscal 2005, an increase of 6.2% over the $334 million reported in the same period a year ago.

Sales for the quarter ended December 31, 2005 included $27 million in incremental sales from Brooks, the only acquisition owned for less than a year. Beyond Brooks, sales gains were strongest in the Artwear business, which experienced growth in the quarter in the mid-teens.

Gross profit for the fourth quarter of 2005 was $99.9 million versus $97.1 million, or a 29.1%, in the prior year. The positive impact of increased unit volumes in Artwear and higher margins associated with Brooks was generally offset by a shift in product mix and increased year-over-year costs for polyester, transportation and energy. Losses at Huffy Sports also negatively affected results.  

For the full year ended December 31, 2005, net sales increased $136.4 million to $1.435 billion, a 10.5% increase over the prior year's sales of $1.298 billion. Excluding the sales from acquisitions owned for less than a year, sales were $1.271 billion.