Clarus reports Q3 adjusted EPS 5c, consensus 7c

Reports Q3 revenue $67.1M, consensus $73.01M. “While macroeconomic headwinds have continued to limit consumer demand in the near-term, our focus in the third quarter was on advancing our strategic plan to position Clarus (CLAR) for long-term profitable growth,” said Warren Kanders, Clarus’ executive chairman. “Specifically, in the Outdoor segment we continued to improve the quality and composition of our inventory to focus on the best and most profitable styles across categories. In line with our stated strategic objective, inventory was down 4% year-over-year. Our Adventure business performed in line with expectations for the first two months of the quarter, but results were ultimately affected by market softness in September in both North America and Australia/New Zealand.”