Johnson Outdoors Granted Exclusions From Section 301 Tariffs
Johnson Outdoors Inc. - Class A (JOUT)
Last johnson outdoors inc. - class a earnings: 1/31 05:00 am
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Source: GlobeNewswire
RACINE, Wis., Sept. 24, 2019 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq:JOUT), a leading global innovator of outdoor recreation equipment and technology, announced today that the Company has been granted exclusions for some of its products’ components subject to Section 301 tariffs. These granted exclusions concern components currently sourced from China for products manufactured in the Company’s North American production facilities and sold worldwide. As a result of the exclusions announced today, the Company is reducing the estimated impact of Section 301 tariffs on fiscal 2019 profits from $5-7 million to approximately $3 million. The exclusions are effective for one year from the date they were approved and allow the Company to be reimbursed for tariffs assessed and paid on components covered by the exclusions before they were approved. The exclusion requests were reviewed and approved by both the United States Trade Representative (USTR) and the U.S. Customs and Bord
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