JOHNSON OUTDOORS INC
For the period ended Jan 2, 2026. Filed Feb 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 2, 2026 · Filed Feb 6, 2026
JOUT$47.28-0.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-27; filed 2025-08-01.
0001140361-25-028318
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-01-02; filed 2026-02-06.
0001140361-26-004135
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 71 previous paragraphs and 57 current paragraphs.
30 unchanged; 19 reworded; 6 added; 21 removed; 1 previous and 2 current paragraphs rearranged.
Tables are not compared: 8 previous and 8 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (6)
Current report
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Current report
Net Sales - First Fiscal Quarter
Current report
Net sales for the Camping & Watercraft Recreation business were $10,601 for the first quarter of the current fiscal year, an increase of $1,150, or 12%, from the prior year net sales during the same period of $9,451. Growth in e-commerce channels overcame the unfavorable impact of a continuing weak end market for watercraft recreation.
Current report
Operating expenses were $54,522 for the three months ended January 2, 2026, compared to $52,422 for the three months ended December 27, 2024. The main drivers of the $2,100 increase between quarters were higher sales-volume related costs offset in part by lower warranty expenses.
Current report
Interest expense was $57 and $47 for the three months ended January 2, 2026 and December 27, 2024, respectively. Interest income was $1,320 and $1,033 for the three months ended January 2, 2026 and December 27, 2024, respectively.
Current report
Other income was $394 for the three months ended January 2, 2026 compared to $326 in the prior year period. For the three months ended January 2, 2026, foreign currency exchange losses were $69 compared to foreign currency exchange gains of $203 for the three months ended December 27, 2024.
Removed paragraphs (21)
Previous report
Recent Developments
Previous report
As disclosed in Part I, Item 1A: Risk Factors, of our Annual Report on Form 10-K for the fiscal year ended September 27, 2024, the Company’s business is subject to risks related to, among other factors, tariffs put in the place by the United States or other countries, including ongoing negotiations on tariffs by the United States with foreign nations and trading partners. During the nine months ended June 27, 2025, the United States government has announced additional tariffs on goods imported into the U.S. from numerous countries. These tariffs may result in an increase costs to the Company, which may ultimately negatively impact demand for our products and/or reduce the Company's overall profitability. The Company continues to analyze the potential impacts of the tariffs and actions that can be taken to mitigate their effects, including, among other options, adjusting our supply chain strategy, evaluating potential operational changes to improve efficiencies, and considering potential adjustments to our pricing strategy.
Previous report
As disclosed in Part I, Item 1A: Risk Factors, of our Annual Report on Form 10-K for the fiscal year ended September 27, 2024, the Company is subject to risks related to changes in tax laws or rulings. On July 4, 2025, the One Big Beautiful Bill (OBBB) Act, which includes a broad range of tax reform provisions, was signed into law in the United States. The Company is currently assessing the potential impact of the OBBB Act on our estimated annual effective tax rate.
Previous report
As of December 27, 2024, and as referenced in “Note 16 – Segments of Business” of the notes to the accompanying Condensed Consolidated Financial Statements, the Company has combined the previously reported "Camping" and "Watercraft Recreation" segments into one segment, referred to as "Camping & Watercraft Recreation."
Previous report
During the first quarter of fiscal 2025, the Company's Diving segment completed an acquisition of a scuba equipment manufacturer for $12,197, which is expected to provide new innovative products, unlock synergies and enhance operating efficiencies for this segment. See “Note 18 – Acquisitions” of the notes to the accompanying Condensed Consolidated Financial Statements for additional information.
Previous report
Net Sales - Third Fiscal Quarter
Previous report
Net sales for the Camping & Watercraft Recreation business were $18,908 for the third quarter of the current fiscal year, a decrease of $3,089, or 14%, from the prior year net sales during the same period of $21,997. As previously announced, the Company exited the Eureka! brand in this segment and completed all sales of Eureka! inventory in the first fiscal quarter of 2025. There were no Eureka! sales in the current year third quarter, compared to approximately $3,573 of Eureka! sales in the prior year third quarter. Excluding the impact of Eureka! sales in the prior year third quarter, sales in this segment increased slightly over the prior year third quarter due to success of new Jetboil products introduced into the market by the Company.
Previous report
Net Sales - Year-To-Date
Previous report
Consolidated net sales for the nine months ended June 27, 2025 were $456,653, a decrease of $30,319, or 6%, compared to $486,972 for the nine months ended June 28, 2024. Foreign currency translation had a negligible impact on net sales of the current year to date period compared to the prior year to date period.
Previous report
Net sales for the nine months ended June 27, 2025 for the Fishing business were $358,042, a decrease of $21,595, or 6%, from $379,637 during the prior year to date period. The growth in sales of new products in the third quarter noted above, was not enough to offset declines in overall sales in this segment in the first two fiscal quarters of 2025 driven in large part by ongoing challenging market conditions.
Previous report
Net sales for the Camping & Watercraft Recreation business were $46,211 for the nine months ended June 27, 2025, a decrease of $6,760, or 13%, from the prior year net sales during the same period of $52,971. As discussed above, the decrease over the prior year to date period is mainly attributable to $7,577 of Eureka! sales in the prior year to date period that were not repeated in the current fiscal year due to the exit of the brand.
Previous report
Diving net sales for the nine months ended June 27, 2025 were $52,705, which declined $1,558, or 3%, compared to net sales of $54,263 for the nine months ended June 28, 2024, due to continued soft market demand for our Diving segment products across most geographic regions during the first two fiscal quarters of 2025. Foreign currency translation had a favorable impact of less than 1% on sales in this segment versus the prior year to date period.
Previous report
Cost of sales for the nine months ended June 27, 2025 of $297,677 decreased $13,188 compared to $310,865 for the nine months ended June 28, 2024, mainly due to the decrease in sales volumes between year-to-date periods, partially offset by a shift in mix to higher cost products between year-to-date periods.
Previous report
For the nine months ended June 27, 2025, gross profit as a percentage of net sales was 34.8% compared to 36.2% in the nine month period ended June 28, 2024. The decrease in gross profit percentage over the prior year-to-date period was primarily due to promotional pricing on end-of-life products and a shift in mix to higher cost products between year-to-date periods.
Previous report
Operating expenses were $60,597 for the three months ended June 27, 2025, compared to $62,328 for the three months ended June 28, 2024, for a decrease of $1,731 between quarters. The main drivers of the decrease were lower commission rates, reduced promotional expenses, and lower professional services expenses, partially offset by a $2,012 increase in expense related to the Company's deferred compensation plan between quarters. The deferred compensation expense is entirely offset in Other Income, as discussed below.
Previous report
Operating expenses were $166,984 for the nine months ended June 27, 2025, compared to $176,820 for the nine months ended June 28, 2024, for a decrease of $9,836 between year-to-date periods. Decreased sales volume-driven expenses and a $3,948 decrease in expense related to the Company's deferred compensation plan contributed to the variance versus the prior year-to-date period. The decrease in deferred compensation expense is entirely offset in Other Income, as discussed below.
Previous report
Operating loss on a consolidated basis for the nine month period ended June 27, 2025 was $8,008, compared to an operating loss of $713 in the prior year to date period. As discussed above, the increase in operating loss between periods was driven primarily by lower sales volumes, promotional pricing and a shift in product mix toward lower margin products between year-to-date periods.
Previous report
Interest expense was $49 and $37 for the three months ended June 27, 2025 and June 28, 2024, respectively, and $164 and $115 for the nine months ended June 27, 2025 and June 28, 2024, respectively.
Previous report
Interest income was $927 and $1,123 for the three months ended June 27, 2025 and June 28, 2024, respectively, and $2,585 and $3,178 for the nine months ended June 27, 2025 and June 28, 2024, respectively.
Previous report
Other income was $2,292 for the three months ended June 27, 2025 compared to $327 in the prior year period. The main driver of the $1,965 increase over the prior year quarter was a $2,012 increase in net investment gains and earnings on the assets related to the Company’s non-qualified deferred compensation plan in the current year quarter over the prior year quarter, entirely offset in operating expenses as noted above. For the three months ended June 27, 2025, foreign currency exchange losses were $456 compared to $28 for the three months ended June 28, 2024.
Previous report
For the nine months ended June 27, 2025, other income was $1,318, compared to $7,468 in the nine months ended June 28, 2024. The $6,150 decrease between year-to-date periods was mostly attributable to a $3,948 decrease in net investment gains and earnings on the assets related to the Company’s non-qualified deferred compensation plan in the current year to date period over the prior year to date period, entirely offset as a reduction to operating expense as noted above. Additionally, the prior year to date period included a gain on the sale of a building of approximately $1,900. For the nine months ended June 27, 2025, foreign currency exchange losses were $274 compared to $173 for the nine months ended June 28, 2024.
Reworded paragraphs (19)
Previous wording
This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) includes comments and analysis relating to the results of operations and financial condition of Johnson Outdoors Inc. and its subsidiaries (collectively, the “Company”) as of and for the three and nine month periods ended June 27, 2025 and June 28, 2024. All monetary amounts, other than share and per share amounts, are stated in thousands.
Current wording
This Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) includes comments and analysis relating to the results of operations and financial condition of Johnson Outdoors Inc. and its subsidiaries (collectively, the “Company”) as of and for the three month periods ended January 2, 2026 and December 27, 2024. All monetary amounts, other than share and per share amounts, are stated in thousands.
Previous wording
Factors that could affect actual results or outcomes include the matters described under the caption “Risk Factors” in Item 1A of the Company’s Form 10-K for the fiscal year ended September 27, 2024 which was filed with the Securities and Exchange Commission on December 11, 2024 and the following: changes in economic conditions, consumer confidence levels and discretionary spending patterns in key markets; uncertainties stemming from political instability (and its impact on the economies in jurisdictions where the Company has operations); uncertainties stemming from changes in U.S. trade policies, tariffs, and the reaction of other countries to such changes; the global outbreaks of disease, such as the COVID-19 pandemic which has affected, and may continue to affect, market and economic conditions, along with wide-ranging impacts on employees, customers and various aspects of our operations; the Company’s success in implementing its strategic plan, including its targeted sales growth platforms, innovation focus and its increasing digital presence; litigation costs related to actions of and disputes with third parties, including competitors; the Company’s continued success in its working capital management and cost-structure reductions; the Company’s success in integrating strategic acquisitions; the risk of future writedowns of goodwill or other long-lived assets; the ability of the Company’s customers to meet payment obligations; the impact of actions of the Company's competitors with respect to product development or enhancement or the introduction of new products into the Company's markets; movements in foreign currencies, interest rates or commodity costs; fluctuations in the prices of raw materials or the availability of raw materials or components used by the Company; any disruptions in the Company's supply chain as a result of material fluctuations in the Company's order volumes and requirements for raw materials and other components, or the demand for those same raw materials and components by third parties, necessary to manufacture and produce the Company's products including related to shortages in procuring necessary raw materials and components to manufacture and produce such products; the success of the Company’s suppliers and customers and the impact of any consolidation in the industries of the Company's suppliers and customers; the ability of the Company to deploy its capital successfully; unanticipated outcomes related to outsourcing certain manufacturing processes; unanticipated outcomes related to litigation matters; and adverse weather conditions and other factors impacting climate change legislation. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this filing. The Company assumes no o…
Excerpt shortened here; the source contains the full paragraph.
Current wording
stemming from changes in U.S. trade policies, tariffs, and the reaction of other countries to such changes; the global outbreaks of disease which may affect market and economic conditions and may have wide-ranging impacts on employees, customers and various aspects of our operations; the Company’s success in implementing its strategic plan, including its targeted sales growth platforms, innovation focus and its increasing digital presence; litigation costs related to actions of and disputes with third parties, including competitors; the Company’s continued success in its working capital management and cost-structure reductions; the Company’s success in integrating strategic acquisitions; the risk of future writedowns of goodwill or other long-lived assets; the ability of the Company’s customers to meet payment obligations; the impact of actions of the Company's competitors with respect to product development or enhancement or the introduction of new products into the Company's markets; movements in foreign currencies, interest rates or commodity costs; fluctuations in the prices of raw materials or the availability of raw materials or components used by the Company; any disruptions in the Company's supply chain as a result of material fluctuations in the Company's order volumes and requirements for raw materials and other components, or the demand for those same raw materials and components by third parties, necessary to manufacture and produce the Company's products including related to shortages in procuring necessary raw materials and components to manufacture and produce such products; the success of the Company’s suppliers and customers and the impact of any consolidation in the industries of the Company's suppliers and customers; the ability of the Company to deploy its capital successfully; unanticipated outcomes related to outsourcing certain manufacturing processes; unanticipated outcomes related to litigation matters; and adverse weather conditions and other factors impacting climate change legislation. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this filing. The Company assumes no obligation, and disclaims any obligation, to update such forward-looking statements to reflect subsequent events or circumstances.
Previous wording
We have registered the following trademarks, among others, which may be used in this report: Minn Kota®, Cannon®, Humminbird®, Jetboil®, Old Town®, Ocean Kayak®, Carlisle®, and SCUBAPRO®.
Current wording
We have registered the following trademarks, among others, which may be used in this report: Minn Kota®, Cannon®, Humminbird®, Jetboil®, Old Town®, Carlisle®, and SCUBAPRO®.
Previous wording
Net sales of $180,655 for the third quarter of fiscal 2025 increased $8,183, or 5%, from the same period in the prior year. The increase between quarterly periods was mainly driven by innovation and new product success across several of the Company's product categories. Gross margin increased to 37.6% compared to 35.8% in the prior year quarter. In addition to the gross margin improvement, lower operating expenses also contributed to a $7,836 improvement in operating profit in the current year quarter versus the prior year quarter.
Current wording
Net sales of $140,935 for the first quarter of fiscal 2026 increased $33,286, or 31%, from the same period in the prior year. The increase between quarterly periods was mainly driven by new product innovation and market stabilization between periods. Gross margin increased to 36.6% compared to 29.9% in the prior year quarter. Taking into account the seasonal nature of the Company's business, as described below, the increase in net sales and the significant increase in margin contributed to a $17,327 improvement in operating loss in the current year quarter versus the prior year quarter.
Previous wording
The Company’s business is seasonal in nature. The third fiscal quarter traditionally falls within the Company’s primary selling season for its warm-weather outdoor recreation products. The table below sets forth a historical view of the Company’s seasonality during the last three fiscal years.
Current wording
The Company’s business is seasonal in nature. The first fiscal quarter traditionally falls prior to the Company’s primary selling season for its warm-weather outdoor recreation products. The table below sets forth a historical view of the Company’s seasonality during the last three fiscal years.
Previous wording
Consolidated net sales for the three months ended June 27, 2025 were $180,655, an increase of $8,183, or 5%, compared to $172,472 for the three months ended June 28, 2024. Foreign currency translation had a negligible impact on current year third quarter net sales compared to the prior year's third quarter net sales.
Current wording
Consolidated net sales for the three months ended January 2, 2026 were $140,935, an increase of $33,286, or 31%, compared to $107,649 for the three months ended December 27, 2024. Foreign currency translation had a negligible impact on current year first quarter consolidated net sales compared to the prior year's first quarter net sales.
Previous wording
Net sales for the three months ended June 27, 2025 for the Fishing business were $140,679, an increase of $10,142, or 8%, from $130,537 during the third fiscal quarter of the prior year. The increase in sales in this segment between quarters was mainly due sales generated by the introduction of new products.
Current wording
Net sales for the three months ended January 2, 2026 for the Fishing business were $112,370, an increase of $29,898, or 36%, from $82,472 during the first fiscal quarter of the prior year. The increase in sales in this segment between quarters was mainly due to improved trade inventory levels and sales generated by the launch of new products.
Previous wording
Net sales for Diving for the third quarter of fiscal 2025 were $21,201, which increased $1,340, or 7%, compared to net sales of $19,861 for the three months ended June 28, 2024. The sales increase over the prior year third quarter was primarily driven by modest improvements in market conditions across certain regions, which led to slightly higher demand in those regions. Additionally, foreign currency translation had a favorable impact of approximately 2% on sales in this segment versus the prior year third quarter.
Current wording
Net sales for Diving for the first quarter of fiscal 2026 were $17,974, which increased $2,290, or 15%, compared to net sales of $15,684 for the three months ended December 27, 2024. The sales increase over the prior year first quarter was primarily driven by the success of new products, particularly in the U.S. market. Additionally, foreign currency translation had a favorable impact of approximately 4% on sales in this segment versus the prior year first quarter.
Previous wording
Cost of sales for the three months ended June 27, 2025 of $112,728 increased $2,078 compared to $110,650 for the three months ended June 28, 2024, due primarily to the increase in sales volumes over the prior year quarter.
Current wording
Cost of sales for the three months ended January 2, 2026 of $89,325 increased $13,859 compared to $75,466 for the three months ended December 27, 2024, due primarily to the increase in sales volumes over the prior year quarter as well as higher costs from tariffs on purchased raw materials and components. Higher material costs were offset in part by lower labor costs driven by efficiencies from cost cutting initiatives.
Previous wording
For the three months ended June 27, 2025, gross profit as a percentage of net sales increased to 37.6% compared to 35.8% in the three month period ended June 28, 2024, mainly as a result of improved overhead absorption driven by higher sales volumes between periods.
Current wording
For the three months ended January 2, 2026, gross profit as a percentage of net sales increased to 36.6% compared to 29.9% in the three month period ended December 27, 2024, mainly as a result of improved overhead absorption driven by higher sales volumes between periods as well as a favorable mix of products sold. Pricing actions taken by the Company helped to offset the impact of incremental tariffs in the current year quarter.
Previous wording
Operating profit on a consolidated basis for the three month period ended June 27, 2025 was $7,330, compared to operating loss of $506 in the third quarter of the prior fiscal year. As discussed above, the increase in operating profit between quarters was driven by an increase in sales, gross margin improvements and a reduction in operating expenses between periods.
Current wording
Operating loss on a consolidated basis for the three month period ended January 2, 2026 was $2,912, compared to operating loss of $20,239 in the first quarter of the prior fiscal year. As discussed above, the improvement in operating loss between quarters was driven primarily by an increase in sales and gross margin improvements between periods.
Previous wording
The Company’s provision for income taxes is based upon estimated annual effective tax rates in the tax jurisdictions in which the Company operates. The effective tax rates for the three and nine month periods ended June 27, 2025 were an expense of 26.3% and a benefit of 22.8%, respectively, compared to a benefit of 78.8% and an expense of 21.2% in the corresponding periods of the prior year.
Current wording
The Company’s provision for income taxes is based upon estimated annual effective tax rates in the tax jurisdictions in which the Company operates. The Company recorded income tax expense of $2,045 in the three month period ended January 2, 2026 which equated to an effective tax rate of (162.9)% which was impacted by an adjustment related to its U.S. valuation allowance on deferred tax assets. The Company recorded a benefit of $3,637 in the corresponding period of the prior year which equated to an effective tax rate of 19.2%.
Previous wording
Net income for the three months ended June 27, 2025 was $7,742, or $0.75 per diluted common class A and B share, compared to $1,622, or $0.16 per diluted common class A and B share, for the third quarter of the prior fiscal year.
Current wording
Net loss for the three months ended January 2, 2026 was $3,300, or $0.33 per diluted common class A and B share, compared to $15,290, or $1.49 per diluted common class A and B share, for the first quarter of the prior fiscal year.
Previous wording
Cash and cash equivalents and short term investments totaled $161,022 as of June 27, 2025, compared to $148,369 as of June 28, 2024. The Company’s debt to total capitalization ratio was 0% as of June 27, 2025 and June 28, 2024. The Company’s total debt balance was $0 as of each of June 27, 2025 and June 28, 2024. See “Note 11 – Indebtedness” in the notes to the Company’s accompanying condensed consolidated financial statements for further discussion.
Current wording
Cash and cash equivalents and short term investments totaled $130,731 as of January 2, 2026, compared to $101,617 as of December 27, 2024. The Company’s debt to total capitalization ratio was 0% as of January 2, 2026 and December 27, 2024. The Company’s total debt balance was $0 as of each of January 2, 2026 and December 27, 2024. See “Note 11 – Indebtedness” in the notes to the Company’s accompanying condensed consolidated financial statements for further discussion of our credit facilities.
Previous wording
Accounts receivable, net of allowance for credit losses, were $81,993 as of June 27, 2025, an increase of $2,400 compared to $79,593 as of June 28, 2024. The increase is consistent with the increased sales volumes over the prior year quarter. Inventories were $163,732 as of June 27, 2025, a decrease of $59,428, compared to $223,160 as of June 28, 2024. The decrease is consistent with the Company's ongoing efforts to reduce inventory balances. Accounts payable were $43,478 at June 27, 2025 compared to $43,153 as of June 28, 2024.
Current wording
Accounts receivable, net of allowance for credit losses, were $85,108 as of January 2, 2026, an increase of $16,811 compared to $68,297 as of December 27, 2024. The increase is consistent with the increased sales volumes over the prior year quarter. Inventories were $183,940 as of January 2, 2026, a decrease of $17,666, compared to $201,606 as of December 27, 2024. The
Previous wording
Cash provided by operations totaled $32,810 for the nine months ended June 27, 2025 compared to $21,899 during the corresponding period of the prior fiscal year. The increase in cash provided by operations over the prior year nine month period was due primarily to cash provided by working capital reductions between quarters, partially offset by lower income on decreased sales volumes between year-to-date periods. Depreciation and amortization charges were $15,299 for the nine month period ended June 27, 2025 compared to $14,799 for the corresponding period of the prior year.
Current wording
Cash used for operations totaled $38,415 for the three months ended January 2, 2026 compared to $36,909 during the corresponding period of the prior fiscal year. The increase in cash used for operations over the prior year three month period was due primarily to working capital changes between quarters. Depreciation and amortization charges were $5,099 for the three month period ended January 2, 2026 compared to $4,803 for the corresponding period of the prior year.
Previous wording
Cash used for investing activities totaled $10,002 for the nine months ended June 27, 2025 compared to cash provided by investing activities of $3,225 for the corresponding period of the prior fiscal year. Current year cash used for investing activities reflects $12,197 paid to acquire a business, partially offset by the maturity of investments of $14,021. The prior year period included proceeds from maturity of investments of $19,650, as well as proceeds from the sale of a building of $2,244. Capital expenditures were $11,826 in the nine months ended June 27, 2025, compared to $16,449 in the prior year to date period which included investments in expansion of Fishing facilities to accommodate additional production. Any additional capital expenditures in fiscal 2025 are expected to be funded by working capital.
Current wording
Cash used for investing activities totaled $4,293 for the three months ended January 2, 2026 compared to $6,500 for the corresponding period of the prior fiscal year. The prior year period reflects $12,180 paid to acquire a business, partially offset by proceeds from maturity of investments of $9,764. Capital expenditures were $4,293 in the three months ended January 2, 2026, compared to $4,084 in the prior year to date period. Any additional capital expenditures in fiscal 2026 are expected to be funded by working capital.
Previous wording
Cash used for financing activities totaled $10,142 for the nine months ended June 27, 2025 compared to $10,136 for the nine month period ended June 28, 2024 and, for both periods, represents the payment of dividends and purchase of treasury stock. The Company had no debt during either nine month period ended June 27, 2025 and June 28, 2024. See Note 11 "Indebtedness" to the accompanying Condensed Consolidated Financial Statements for additional information on our credit facilities.
Current wording
Cash used for financing activities totaled $3,479 for the three months ended January 2, 2026 compared to $3,450 for the three month period ended December 27, 2024 and represents the payment of dividends and purchase of treasury stock for both periods. The Company had no debt during either three month period ended January 2, 2026 and December 27, 2024. See Note 11 "Indebtedness" to the accompanying Condensed Consolidated Financial Statements for additional information on our credit facilities.
Previous wording
The Company’s critical accounting policies and estimates are identified in the Company’s Annual Report on Form 10-K for the fiscal year ending September 27, 2024 in Management’s Discussion and Analysis of Financial Condition and Results of Operations under the heading “Critical Accounting Estimates”, which was filed with the Securities and Exchange Commission on December 11, 2024. There were no significant changes to the Company’s critical accounting policies and estimates during the nine months ended June 27, 2025.
Current wording
The Company’s critical accounting policies and estimates are identified in the Company’s Annual Report on Form 10-K for the fiscal year ending October 3, 2025 in Management’s Discussion and Analysis of Financial Condition and Results of Operations under the heading “Critical Accounting Estimates”, which was filed with the Securities and Exchange Commission on December 12, 2025. There were no significant changes to the Company’s critical accounting policies and estimates during the three months ended January 2, 2026.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
Factors that could affect actual results or outcomes include the matters described under the caption “Risk Factors” in Item 1A of the Company’s Form 10-K for the fiscal year ended October 3, 2025 which was filed with the Securities and Exchange Commission on December 12, 2025 and the following: changes in economic conditions, consumer confidence levels and discretionary spending patterns in key markets; uncertainties stemming from political instability or changes in government policy and actions (and its impact on the economies in jurisdictions where the Company has operations); uncertainties
Current report — wording carried from elsewhere
decrease is consistent with the Company's ongoing efforts to reduce inventory balances. Accounts payable were $48,135 at January 2, 2026 compared to $33,491 as of December 27, 2024.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
Net loss for the nine months ended June 27, 2025 was $5,244, or $0.52 per diluted common class A and B share, compared to net income of $7,733, or $0.75 per diluted common class A and B share, for the third quarter of the prior fiscal year.