The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: So first, in the fourth quarter, your sales were up in three out of the four segments. Can you talk about unit volumes versus ASP? And what you see
as far as inventory levels at the retail level?
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Got you. So as far as the gross margin, that did come in lower than what we're expecting. Can you provide -- I don't know if there's any way you
can quantify or maybe share more details. I mean you called out a few items, but I just wanted to get more specifics as to how impactful some of
these things were as far as promotional pricing, the mix shift to lower-margin items, their inventory reserves. Is there any way you can provide
more details about that?
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: That's very helpful. And then in terms of your strategy, so the focus on innovation has been sort of a key factor for Johnson Outdoors as long as I
can remember. But can you talk about what, if anything, you're doing differently and maybe you could touch on the upcoming pipeline of new
products?
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Got you. So for you guys to execute the strategy, do you think you have the appropriate internal resources for that? Or do you think you need to
make an acquisition to improve your capabilities to execute this strategy?
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Understood. Okay. And then in terms of the operational efficiencies, can you share more details about the cost savings program? What's been the
benefit from -- on recent results? And how should we think about the future cost savings opportunities?
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Got you. Okay. So as far as the severance cost that you guys cited in the press release, was that all in the fourth quarter?
Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst
: Okay. Got you. And I guess lastly for me. So obviously, you guys are predominantly a manufacturer in the US here, but you guys do use lot of
imported components. Just wanted to get a sense from you as far as what you think about the impact from potential tariffs coming next year?
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