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: Alex Sturnieks - Lake Street Capital Markets - Analyst
: Alex Sturnieks on the line for Mark Smith today. First one for me. You mentioned a little bit about the $8 million to $10 million of fiscal '26 demand
that was pulled into Q4. Could you provide some more color on that? And then given that pull-forward into Q4, what else are you seeing early on
in Q1 in terms of consumer discretionary spend?
Question: Alex Sturnieks - Lake Street Capital Markets - Analyst
: Okay. And then the early Q1 trends for consumer discretionary spend?
Question: Alex Sturnieks - Lake Street Capital Markets - Analyst
: Correct.
Question: Alex Sturnieks - Lake Street Capital Markets - Analyst
: That's helpful. And then next one for me. This quarter, it looks like traditional really outperformed. Can you help unpack what drove the strength
in that channel? Was this more load-in related or something more structural?
Question: Alex Sturnieks - Lake Street Capital Markets - Analyst
: No, you hit that one on the head there. And then just last one for me. Previously, you've mentioned there are some opportunities on M&A to bolster
the outdoor lifestyle products. Just curious on your thoughts around the current M&A environment and your appetite there. And then also, are
you looking at any other additional uses of capital?
Question: Matthew Koranda - ROTH Capital - Analyst
: Just wanted to make sure I understand the -- or can pinpoint the reason for the withdrawn guidance. So after the pull-forward in orders that you
saw, did you actually see a pause in retail order flow in, call it, the late April, May, early June time frame? What does sort of order activity look like
with your retail customers currently?
Question: Matthew Koranda - ROTH Capital - Analyst
: Okay. That helps clarify a little bit. Also curious, I guess, you alluded to it in your answer just now, but -- so POS has been strong and there's been
a pause in sort of order activity, I guess, that maybe creates a little bit of an air pocket in the first quarter. Like what do your retail customers need
to see before they come back to the well? Is it just a thinning out of inventory?
And so as they cycle through stuff over a quarter or so, they'll come back to the well as long as POS looks normal? Do they need other things to be
happening? Maybe just a little bit more on what you think drives them back for kind of the replenishment later in the fiscal year in '26?
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JUNE 26, 2025 / 9:00PM, AOUT.OQ - Q4 2025 American Outdoor Brands Inc Earnings Call
Question: Matthew Koranda - ROTH Capital - Analyst
: Okay. Maybe just one other one on the near-term sales commentary that you gave. I guess just so you level set everybody that's on the call, maybe
if we think about first quarter in a normal environment, probably would have been kind of in line with the prior guidance in the mid-single-digit
percentage growth range.
If we just take that and then strip out sort of the $8 million to $10 million in pull- forward that we saw, is that directionally the right way to think
about the first quarter as things stand?
Question: Matthew Koranda - ROTH Capital - Analyst
: Okay. All right. I appreciate that. And then just maybe the last one is on tariffs and just kind of get a sense for if you're willing to talk about how
much exposure you have within your cost of goods to China. How should we think about that in '25? Are we making any incremental sourcing
decisions that move some of that away from China in '26 that would sort of materially change the percentage of your COGS coming from China?
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