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Clarus (NASDAQ: CLAR) reported financial results for the first quarter of 2024, showing an increase in quarterly adventure sales by 27% and a reduction in apparel inventory by 38%. The company reaffirmed its full-year guidance and emphasized its focus on simplification, right-sizing, and new product launches in the outdoor enthusiast markets. Sales in the Adventure segment increased by 27%, driven by OEM customer demand, while the Outdoor segment faced challenges in the European wholesale market. Despite a decrease in gross margin due to promotional pricing and inventory reserves, Clarus remains committed to enhancing margins and profitability.
Clarus (NASDAQ: CLAR) has declared a regular quarterly cash dividend of $0.025 per share for its stockholders. The dividend will be paid on May 20, 2024, to shareholders of record as of May 10, 2024.
