31 Mar Fila USA’s Revenues Climb Double-Digits in 2014
Fila USA saw revenues jump 29.2 percent in 2014, to $279.2 million, according to financial documents posted by parent Fila Korea. Sales were $216.2 million in 2013 and $158.8 million in 2012.
The region’s operating margin, however, eroded to 6.2 percent from 7.4 percent in 2013. In 2012, Fila USA’s operating margin was 5.6 percent.
In the fourth quarter, Fila USA’s sales improved to $66.4 million from $51.9 million in 2013 and $36.6 million in 2012. Its operating margin slid to 1.1 percent from 2.9 percent in 2013 and 1.2 percent in 2012.
Fila Korea’s statement noted, “Fila USA has shown improvement in both sales and profit since its return to profitability in 2010. Despite the competitive market in the U.S. and the limited marketing investment, Fila USA continued
to grow both the revenue and operating profit.”
Companywide, Fila Korea’s revenues on a consolidated basis improved in 2014 to 797.5 million Korean Won ($722.2 mm) from 736.1 million Korean won. Net income reached 60.4 million Korean Won ($55 mm), up down from 96.2 million Korean Won.
In the fourth quarter, sales reached 213,446 Korean Won and net income showed a loss of 11,253 Korean Won. In the year-ago period, sales were 208,781 Korean Won ($194 mm) with net income of 53,260 Korean Won ($48.5 mm).