XML 35 R25.htm IDEA: XBRL DOCUMENT v3.24.1.u1
SEGMENTS OF BUSINESS
 6 Months Ended
Mar. 29, 2024
Segment Reporting [Abstract]  
SEGMENTS OF BUSINESS SEGMENTS OF BUSINESS
The Company conducts its worldwide operations through separate business segments, each of which represents major product lines. Operations are conducted in the United States and various foreign countries, primarily in Europe, Canada and the Pacific Basin. 

Net sales and operating profit include both sales to customers, as reported in the Company’s accompanying Condensed Consolidated Statements of Operations, and interunit transfers, which are priced to recover cost plus an appropriate profit margin. Total assets represent assets that are used in the Company’s operations in each business segment at the end of the periods presented.
A summary of the Company’s operations by business segment is presented below:
 
 Three Months EndedSix Months Ended   
March 29, 2024March 31, 2023March 29, 2024March 31, 2023September 29, 2023
Net sales:         
Fishing:         
Unaffiliated customers$138,466 $155,009 $248,827 $292,830   
Interunit transfers142 332 273 552   
Camping:        
Unaffiliated customers10,513 13,712 16,416 25,319   
Interunit transfers7 13 17 19   
Watercraft Recreation:        
Unaffiliated customers9,719 12,824 14,499 22,457   
Interunit transfers9 66 42 91   
Diving        
Unaffiliated customers16,918 20,307 34,392 39,349   
Interunit transfers6 1 10 18   
Other / Corporate240 263 366 497   
Eliminations(164)(412)(342)(680)  
Total$175,856 $202,115 $314,500 $380,452   
Operating profit (loss):          
Fishing$7,427 $17,121 $18,956 $32,693   
Camping1,709 2,071 2,067 2,824   
Watercraft Recreation(486)569 (2,564)154   
Diving(298)1,444 (876)1,457   
Other / Corporate(8,605)(9,815)(17,790)(20,266)  
 $(253)$11,390 $(207)$16,862   
Total assets (end of period):        
Fishing$432,108 $407,540 $363,463 
Camping42,970 53,475 53,003
Watercraft Recreation32,614 40,018 26,953
Diving82,088 81,120 83,555
Other / Corporate101,898 118,729 154,632
 $691,678 $700,882 $681,606 
Other Segment Information
During the three and six month period ended March 29, 2024, two customers of the Company's Fishing, Camping and Watercraft Recreation segments each accounted for more than 10% of the Company's consolidated revenues, which amounted to combined net sales of approximately $54,746 and $108,893, respectively. During the three and six month periods ended March 31, 2023, combined net sales to three customers of the Company's Fishing, Camping and Watercraft Recreation segments represented approximately $76,679 and $140,089, respectively, of the Company's consolidated revenues.

During the second quarter of fiscal 2023, the Company sold the Military and Commercial Tent product lines of its Camping segment to a third party in an asset sale. The sale did not include the Eureka! brand name or the Eureka! consumer/recreational Camping business line. Subsequently, during the fourth quarter of fiscal 2023, the Company developed and approved plans to fully exit the Eureka! brand of the Camping segment, which includes liquidating all remaining consumer inventory of Eureka! branded products and winding down operations. The Company incurred expenses of approximately $4,800 in the fourth quarter of fiscal 2023 related to the wind down of the Eureka! branded business. Other costs incurred during fiscal 2024 will be expensed as incurred and are not expected to be material.
During the first quarter of fiscal 2024, the Fishing segment of the Company sold a building, which resulted in a gain of approximately $1,900, which was recorded in Other income, net in the accompanying Condensed Consolidated Statements of Operations.