Nautilus expects higher sales as COVID-19 drives exercise equipment boom [Reuters]
Nautilus, Inc. (NLS)
Last nautilus, inc. earnings: 2/24 04:05 pm
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Source: Reuters
Nautilus expects higher sales as COVID-19 drives exercise equipment boom (Reuters) - Nautilus Inc ( NLS.N ) on Wednesday forecast higher sales for the first quarter, as the coronavirus-driven stay-at-home boosted demand for its exercise equipment. Shares of the company, which competes with Peloton Interactive Inc ( PTON.O ), surged 30% in extended trading. Nautilus said it expects first-quarter net sales to rise 11% from a year earlier to $94 million, the first increase in more than a year, as people turn to at-home exercise equipment because of restrictions on movement. “Demand for many of our home-fitness products continues to outpace supply and we are pulling all levers to accelerate the manufacturing and delivery of key products,” Chief Executive Officer Jim Barr said. [nBwb6bh9ka] The company said it expects its retail segment to grow 24% in the quarter as e-commerce sales and curbside pick-up facilities outweigh the impact of stores being shut. Factory workers in China, wher
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