0001140361-23-004374 | 10-Q | XBRL Viewer

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Cover - shares	3 Months Ended
Cover - shares	Dec. 30, 2022	Jan. 27, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 30, 2022
Document Transition Report	false
Entity File Number	0-16255
Entity Registrant Name	JOHNSON OUTDOORS INC.
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1536083
Entity Address, Address Line One	555 Main Street
Entity Address, City or Town	Racine
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53403
City Area Code	262
Local Phone Number	631-6600
Title of 12(b) Security	Class A Common Stock, $.05 par value per share
Trading Symbol	JOUT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Entity Central Index Key	0000788329
Current Fiscal Year End Date	--09-29
Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		9,033,439
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		1,207,798

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Net sales	$ 178,337	$ 153,524
Cost of sales	115,558	92,893
Gross profit	62,779	60,631
Operating expenses:
Marketing and selling	33,498	28,232
Administrative management, finance and information systems	16,284	12,230
Research and development	7,525	6,409
Total operating expenses	57,307	46,871
Operating profit	5,472	13,760
Interest income	(827)	(93)
Interest expense	37	38
Other income, net	(1,904)	(774)
Profit before income taxes	8,166	14,589
Income tax expense	2,287	3,733
Net income	$ 5,879	$ 10,856
Weighted average common shares - Basic:
Participating securities (in shares)	21	41
Weighted average common shares - Dilutive (in shares)	10,168	10,138
Class A
Weighted average common shares - Basic:
Weighted average common shares - Basic (in shares)	8,939	8,888
Net income per common share - Basic:
Net income per common share - Basic (in USD per share)	$ 0.58	$ 1.08
Net income per common share - Diluted:
Net income per common share - Diluted (in USD per share)	$ 0.57	$ 1.07
Class B
Weighted average common shares - Basic:
Weighted average common shares - Basic (in shares)	1,208	1,209
Net income per common share - Basic:
Net income per common share - Basic (in USD per share)	$ 0.53	$ 0.98
Net income per common share - Diluted:
Net income per common share - Diluted (in USD per share)	$ 0.57	$ 1.07

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 5,879	$ 10,856
Other comprehensive income (loss):
Foreign currency translation	2,937	(423)
Defined benefit pension plan:
Change in pension plans, net of tax of $3 and $5, respectively	8	16
Total other comprehensive income (loss)	2,945	(407)
Total comprehensive income	$ 8,824	$ 10,449

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Pension plans, unrecognized gain, tax	$ 3	$ 5

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Dec. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 103,422	$ 129,803	$ 167,473
Accounts receivable, net	120,553	91,919	86,689
Inventories	251,525	248,649	217,431
Other current assets	11,024	9,945	14,815
Total current assets	486,524	480,316	486,408
Property, plant and equipment, net of accumulated depreciation of $176,501, $171,843 and $167,216, respectively	91,803	89,125	74,064
Right of use assets	55,647	56,625	47,443
Deferred income taxes	11,455	11,411	13,187
Goodwill	11,167	11,160	11,217
Other intangible assets, net	8,306	8,372	8,570
Other assets	24,194	22,922	31,465
Total assets	689,096	679,931	672,354
Current liabilities:
Accounts payable	57,058	53,796	59,241
Current lease liability	7,510	7,223	5,646
Accrued liabilities:
Salaries, wages and benefits	18,022	20,806	19,709
Accrued warranty	9,698	9,639	12,745
Income taxes payable	4,825	3,186	10,366
Accrued discounts and returns	6,253	5,214	6,280
Accrued customer programs	3,943	4,726	5,911
Other	10,129	10,123	8,104
Total current liabilities	117,438	114,713	128,002
Non-current lease liability	49,519	50,680	42,817
Deferred income taxes	1,849	1,752	1,627
Retirement benefits	1,610	1,563	1,511
Deferred compensation liability	22,684	21,466	29,837
Other liabilities	1,775	1,743	1,947
Total liabilities	194,875	191,917	205,741
Common stock:
Capital in excess of par value	86,923	87,351	83,869
Retained earnings	405,574	402,821	378,352
Accumulated other comprehensive income	3,565	620	6,979
Treasury stock at cost, shares of Class A common stock: 31,265, 45,961 and 43,493, respectively	(2,355)	(3,290)	(3,097)
Total shareholders’ equity	494,221	488,014	466,613
Total liabilities and shareholders’ equity	689,096	679,931	672,354
Class A
Common stock:
Shares issued and outstanding	453	451	449
Class B
Common stock:
Shares issued and outstanding	$ 61	$ 61	$ 61

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Accumulated depreciation	$ 176,501	$ 171,843	$ 167,216
Treasury stock (in shares)	31,265	45,961	43,493
Class A
Common stock, issued (in shares)	9,033,439	8,984,253	8,949,163
Common stock, shares outstanding (in shares)	9,033,439	8,984,253	8,949,163
Class B
Common stock, issued (in shares)	1,207,798	1,207,798	1,207,882
Common stock, shares outstanding (in shares)	1,207,798	1,207,798	1,207,882

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance, beginning of period (in shares) at Oct. 01, 2021		10,127,200
Balance, beginning of period at Oct. 01, 2021		$ 509	$ 82,899	$ 370,501	$ 7,386	$ (2,790)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 10,856			10,856
Dividends declared				(3,005)
Award of non-vested shares (in shares)		34,422
Award of non-vested shares		$ 1	(2)
B to A conversion			(154)			154
Stock-based compensation			1,126
Currency translation adjustment	(423)				(423)
Change in pension plans, net of tax					16
Purchase of treasury stock at cost (in shares)		(4,577)
Purchase of treasury stock at cost						(461)
Balance, end of period (in shares) at Dec. 31, 2021		10,157,045
Balance, end of period at Dec. 31, 2021	466,613	$ 510	83,869	378,352	6,979	(3,097)
Balance, beginning of period (in shares) at Sep. 30, 2022		10,192,051
Balance, beginning of period at Sep. 30, 2022	488,014	$ 512	87,351	402,821	620	(3,290)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,879			5,879
Dividends declared				(3,126)
Award of non-vested shares (in shares)		56,799
Award of non-vested shares		$ 2	(1,381)			1,379
Stock-based compensation			953
Currency translation adjustment	2,937				2,937
Change in pension plans, net of tax					8
Purchase of treasury stock at cost (in shares)		(7,613)
Purchase of treasury stock at cost						(444)
Balance, end of period (in shares) at Dec. 30, 2022		10,241,237
Balance, end of period at Dec. 30, 2022	$ 494,221	$ 514	$ 86,923	$ 405,574	$ 3,565	$ (2,355)

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Change in pension plans, net of tax	$ 3	$ 5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
CASH USED FOR OPERATING ACTIVITIES
Net income	$ 5,879	$ 10,856
Adjustments to reconcile net income to net cash used for operating activities:
Depreciation	3,697	3,429
Amortization of intangible assets	66	63
Amortization of deferred financing costs	9	9
Stock based compensation	953	1,126
Loss on disposal of productive assets	71	1
Deferred income taxes	9	(73)
Change in operating assets and liabilities:
Accounts receivable, net	(28,166)	(15,525)
Inventories, net	(1,214)	(50,993)
Accounts payable and accrued liabilities	2,308	(7,447)
Other current assets	(1,055)	(1,955)
Other long-term liabilities	(196)	(2,622)
Other, net	69	358
CASH USED FOR OPERATING ACTIVITIES	(17,570)	(62,773)
CASH USED FOR INVESTING ACTIVITIES
Capital expenditures	(6,649)	(6,244)
CASH USED FOR INVESTING ACTIVITIES	(6,649)	(6,244)
CASH USED FOR FINANCING ACTIVITIES
Dividends paid	(3,126)	(3,005)
Purchases of treasury stock	(444)	(461)
CASH USED FOR FINANCING ACTIVITIES	(3,570)	(3,466)
Effect of foreign currency rate changes on cash	1,408	(492)
Decrease in cash and cash equivalents	(26,381)	(72,975)
CASH AND CASH EQUIVALENTS
Beginning of period	129,803	240,448
End of period	103,422	167,473
Supplemental Disclosure:
Non-cash treasury stock activity	1,379	0
Cash paid for taxes	737	2,853
Cash paid for interest	$ 28	$ 28

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Dec. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The condensed consolidated financial statements included herein are unaudited. In the opinion of management, these statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Johnson Outdoors Inc. and subsidiaries (collectively, the “Company”) as of December 30, 2022 and December 31, 2021, and their results of operations for the three month periods then ended and cash flows for the three month periods then ended. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022 which was filed with the Securities and Exchange Commission on December 9, 2022. Due to seasonal variations and other factors, some of which are described herein, including related to the aftereffects of the COVID-19 pandemic and the ensuing related disruptions to the global supply chains and logistics infrastructure, and the current inflationary environment (especially as it relates to the cost of raw materials and purchased components), the results of operations for the three months ended December 30, 2022 are not necessarily indicative of the results to be expected for the Company’s full 2023 fiscal year. The current economic and business environment, including as it relates to inflationary pressures, combined with the continued impact of the pandemic on the global supply chain (specifically with respect to the sourcing, timing, availability and cost of raw materials and components that are necessary to manufacture our products) is beyond our control and remains highly uncertain and cannot be predicted at this time. See “Seasonality” and "Coronavirus (COVID-19)" in the Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere herein for additional information. The Company considers all short-term investments in interest-bearing accounts and all securities and other instruments with an original maturity of three months or less, to be equivalent to cash. Cash equivalents are stated at cost which approximates market value. All monetary amounts, other than share and per share amounts, are stated in thousands.

ACCOUNTS RECEIVABLE	3 Months Ended
ACCOUNTS RECEIVABLE	Dec. 30, 2022
Receivables [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLEAccounts receivable are stated net of allowances for doubtful accounts of $1,151, $1,037 and $2,662 as of December 30, 2022, September 30, 2022 and December 31, 2021, respectively. The increase in net accounts receivable to $120,553 as of December 30, 2022 from $91,919 as of September 30, 2022 is attributable to the seasonal nature of the Company’s business. The determination of the allowance for doubtful accounts is based on a combination of factors. In circumstances where specific collection concerns about a receivable exist, a reserve is established to value the affected account receivable at an amount the Company believes will be collected. For all other customers, the Company recognizes allowances for doubtful accounts based on historical experience of bad debts as a percent of accounts receivable outstanding for each business segment. Uncollectible accounts are written off against the allowance for doubtful accounts after collection efforts have been exhausted. The Company typically does not require collateral on its accounts receivable.

EARNINGS PER SHARE (“EPS”)

3 Months Ended

Dec. 30, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE (“EPS”)

Net income or loss per share of Class A common stock and Class B common stock is computed using the two-class method. Grants of restricted stock which receive non-forfeitable dividends are classified as participating securities and are required to be included as part of the basic weighted average share calculation under the two-class method.

Holders of Class A common stock are entitled to cash dividends equal to 110% of all dividends declared and paid on each share of Class B common stock. The Company grants shares of unvested restricted stock in the form of Class A shares, which carry the same distribution rights as the Class A common stock described above. As such, the undistributed earnings for each period are allocated to each class of common stock based on the proportionate share of the amount of cash dividends that each such class is entitled to receive.

Basic EPS

Basic net income or loss per share is computed by dividing net income or loss allocated to Class A common stock and Class B common stock by the weighted-average number of shares of Class A common stock and Class B common

stock outstanding, respectively. In periods with cumulative year to date net income and undistributed income, the undistributed income for each period is allocated to each class of common stock based on the proportionate share of the amount of cash dividends that each such class is entitled to receive. In periods where there is a cumulative year to date net loss or no undistributed income because distributions through dividends exceed net income, Class B shares are treated as anti-dilutive and, therefore, net losses are allocated equally on a per share basis among all participating securities.

For the three month periods ended December 30, 2022 and December 31, 2021, basic income per share for the Class A and Class B shares has been presented using the two class method and reflects the allocation of undistributed income described above.

Diluted EPS

Diluted net income per share is computed by dividing allocated net income by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive stock options, restricted stock units (“stock units” or “units”) and non-vested restricted stock. Anti-dilutive stock options, units and non-vested stock are excluded from the calculation of diluted EPS. The computation of diluted net income per share of Class A common stock assumes that Class B common stock is converted into Class A common stock. Therefore, diluted net income per share is the same for both Class A and Class B common shares. In periods where the Company reports a net loss, the effect of anti-dilutive stock options and units is excluded and diluted loss per share is equal to basic loss per share for both classes of stock.

For the three month periods ended December 30, 2022 and December 31, 2021, diluted net income per share reflects the effect of dilutive stock units and assumes the conversion of Class B common stock into Class A common stock.

Shares of non-vested stock that could potentially dilute earnings per share in the future which were not included in the fully diluted computation because they would have been anti-dilutive totaled 60,390 and 37,916 for the three months ended December 30, 2022 and December 31, 2021, respectively. Stock units that could potentially dilute earnings per share in the future and which were not included in the fully diluted computation because they would have been anti-dilutive were 53,699 and 26,232 for the three months ended December 30, 2022 and December 31, 2021, respectively.

Dividends per share

Dividends per share for the three month periods ended December 30, 2022 and December 31, 2021 were as follows:


	Three Months Ended
	December 30, 2022		December 31, 2021
Dividends declared per common share:
Class A	$	0.31	$	0.30
Class B	$	0.28	$	0.27

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS

3 Months Ended

Dec. 30, 2022

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS

The Company’s current stock ownership plans allow for issuance of stock options to acquire shares of Class A common stock by key executives and non-employee directors. Current plans also allow for issuance of shares of restricted stock, restricted stock units or stock appreciation rights in lieu of stock options.

Under the Company’s 2012 Non-Employee Director Stock Ownership Plan and the 2020 Long-Term Incentive Plan (the only plans where shares currently remain available for future equity incentive awards) there were a total of 395,018 shares of the Company’s Class A common stock available for future grant to non-employee directors and key executives at December 30, 2022. Share awards previously made under the Company's 2010 Long-Term Stock Incentive Plan, which no longer allows for additional share grants, also remain outstanding.

Non-vested Stock

All shares of non-vested restricted stock awarded by the Company have been granted in the form of shares of Class A common stock at their fair market value on the date of grant and vest within one year from the date of grant for stock granted to directors and four years from the date of grant for stock granted to officers and employees. The fair value at date of grant is based on the number of shares granted and the average of the Company’s high and low Class A common stock price on the date of grant or, if the Company’s Class A shares did not trade on the date of grant, the average of the Company’s high and low Class A common stock price on the last preceding date on which the Company’s Class A shares traded.

A summary of non-vested stock activity for the three months ended December 30, 2022 related to the Company’s stock ownership plans is as follows:


	Shares	Weighted Average Grant Price
Non-vested stock at September 30, 2022	58,136	$	73.37
Non-vested stock grants	16,143	56.55
Restricted stock vested	(7,350)	71.43

Non-vested stock at December 30, 2022	66,929	69.52

Non-vested stock grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of shares by tendering a portion of the vested shares back to the Company. Shares tendered back to the Company were 2,289 and 1,778 during the three month periods ended December 30, 2022 and December 31, 2021, respectively.

Stock compensation expense, net of forfeitures, related to non-vested stock was $456 and $295 for the three month periods ended December 30, 2022 and December 31, 2021, respectively. Unrecognized compensation cost related to non-vested stock as of December 30, 2022 was $2,938, which amount will be amortized to expense through December 2026 or adjusted for changes in future estimated or actual forfeitures.

The fair value of restricted stock vested during the three month periods ended December 30, 2022 and December 31, 2021 was $429 and $573, respectively.

Restricted Stock Units

All restricted stock units (RSUs) awarded by the Company have been granted in the form of units payable in shares of Class A common stock upon vesting. The units are valued at the fair market value of a share of Class A common stock on the date of grant and vest within one year from the date of grant for RSUs granted to directors, subject to satisfaction of applicable performance criteria, and three years from the date of grant for RSUs granted to employees. The fair value at the date of grant is based on the number of units granted and the average of the Company’s high and low Class A common stock trading price on the date of grant or, if the Company’s Class A shares did not trade on the date of grant, the average of the Company’s high and low Class A common stock trading price on the last preceding date on which the Company’s Class A shares traded.

A summary of RSU activity for the three months ended December 30, 2022 follows:


	Number of RSUs	Weighted Average Grant Price
RSUs at September 30, 2022	65,994	$	82.58
RSUs granted	36,484	56.54
RSUs vested	(26,742)	64.51

RSUs at December 30, 2022	75,736	76.42

Stock compensation expense, net of forfeitures, related to RSUs was $476 and $727 for the three month periods ended December 30, 2022 and December 31, 2021, respectively. Unrecognized compensation cost related to non-vested RSUs as of December 30, 2022 was $3,175, which amount will be amortized to expense through September 2025 or adjusted for changes in future estimated or actual forfeitures.

RSU grantees may elect to reimburse the Company for withholding taxes due as a result of the vesting of units and issuance of unrestricted shares of Class A common stock by tendering a portion of such unrestricted shares back to the Company. Shares tendered back to the Company for this purpose were 5,055 and 2,799 during the three month periods ended December 30, 2022 and December 31, 2021, respectively.

The fair value of restricted stock units recognized as a tax deduction during the three month periods ended December 30, 2022 and December 31, 2021 was $2,247 and $2,759, respectively.

Compensation expense related to units earned by employees (as opposed to grants to outside directors) is based upon the attainment of certain Company financial goals related to cumulative net sales and cumulative operating profit over a three-year performance period. Awards are only paid if at least 80% of the target levels are met and maximum payouts are made if 120% or more of target levels are achieved. The payouts for achievement at the threshold levels of performance are equal to 50% of the target award amount. The payouts for achievement at maximum levels of performance are equal to 150% of the target award amount. To the extent earned, awards are issued in shares of Company Class A common stock after the end of the three-year performance period.

Employees’ Stock Purchase Plan

The Company’s shareholders have adopted the Johnson Outdoors Inc. 2009 Employees’ Stock Purchase Plan, which was most recently amended on March 2, 2017, and which provides for the issuance of shares of Class A common stock at a purchase price of not less than 85% of the fair market value of such shares on the date of grant or on the date of purchase, whichever is lower.

During the three month period ended December 30, 2022, the Company issued 0 shares of Class A common stock and recognized $21 of expense in connection with the Employees' Stock Purchase Plan. During the three month period ended December 31, 2021, the Company issued 0 shares of Class A common stock and recognized $104 of expense in connection with the Plan.

LEASES

3 Months Ended

Dec. 30, 2022

Leases [Abstract]

LEASES

The Company leases certain facilities and machinery and equipment under long-term, non-cancelable operating leases. The Company determines if an arrangement is a lease at inception.

As of December 30, 2022, the Company had approximately 200 leases, with remaining terms ranging from less than one year to 16 years. Some of the leases contain variable payment terms, such as payments based on fluctuations in the Consumer Price Index (CPI). Some leases also contain options to extend or terminate the lease. To the extent the Company is reasonably certain to exercise these options, they have been considered in the calculation of the right-of-use ("ROU") assets and lease liabilities. Under current lease agreements, there are no residual value guarantees or restrictive lease covenants. In calculating the ROU assets and lease liabilities, several assumptions and judgments were made by the Company, including whether a contract is or contains a lease under the applicable definition, and the determination of the discount rate, which is assumed to be the incremental borrowing rate. The incremental borrowing rate is derived from information available to the Company at the lease commencement date based on lease length and location.

The components of lease expense recognized in the accompanying Condensed Consolidated Statements of Operations for the three months ended December 30, 2022 and December 31, 2021 were as follows:


	Three months ended
	December 30, 2022		December 31, 2021
Lease Cost
Operating lease costs	$	2,430	$	2,107
Short-term lease costs	529		414
Variable lease costs	41		45
Total lease cost	$	3,000	$	2,566

Included in the amounts in the table above were rent expense to related parties of $314 and $291 for the three months ended December 30, 2022 and December 31, 2021, respectively.

As of December 30, 2022, the Company did not have any finance leases or sublease agreements. Additionally, the Company does not have any leases in which it is the lessor. While the Company extended or renewed various existing leases during the quarter, there were no significant new leases entered into during the quarter ended December 30, 2022. As of December 30, 2022, the Company did not have any significant operating lease commitments that have not yet commenced. Supplemental balance sheet, cash flow, and other information related to operating leases was as follows:


	Three months ended
	December 30, 2022			December 31, 2021
Operating leases:

Operating lease ROU assets	$	55,647		$	47,443

Current operating lease liabilities	7,510			5,646
Non-current operating lease liabilities	49,519			42,817
Total operating lease liabilities	$	57,029		$	48,463

Weighted average remaining lease term (in years)	12.21			12.15

Weighted average discount rate	3.15		%	3.09		%

Cash paid for amounts included in the measurement of lease liabilities	$	2,149		$	1,875

Future minimum rental commitments under non-cancelable operating leases with an initial lease term in excess of one year at December 30, 2022 were as follows:


Year	Related parties included in total		Total
Remainder of 2023	$	929	$	6,822
2024	1,270		8,166
2025	1,308		7,545
2026	1,348		5,878
2027	226		4,710
Thereafter	—		36,096
Total undiscounted lease payments	5,081		69,217
Less: Imputed interest	(155)		(12,188)
Total net lease liability	$	4,926	$	57,029

INCOME TAXES

3 Months Ended

Dec. 30, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXESFor the three months ended December 30, 2022 and December 31, 2021, the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows:


	Three Months Ended
(thousands, except tax rate data)	December 30, 2022			December 31, 2021
Profit before income taxes	$	8,166		$	14,589
Income tax expense	2,287			3,733
Effective income tax rate	28.0		%	25.6		%

The increase in the effective tax rate for the three months ended December 30, 2022 compared to the three months ended December 31, 2021 was primarily due to the unfavorable tax expense impact of stock-based compensation awards in the current year period, compared to a tax benefit for similar awards in the prior year period.

The impact of the Company’s operations in jurisdictions where a valuation allowance is assessed is removed from the overall effective tax rate methodology and recorded directly based on year to date results for the year for which no tax expense or benefit can be recognized. The significant tax jurisdictions that have a valuation allowance for the periods ended December 30, 2022 and December 31, 2021 were:


December 30, 2022			December 31, 2021
Indonesia			Indonesia
Switzerland			Switzerland

The Company regularly assesses the adequacy of its provisions for income tax contingencies in accordance with the applicable authoritative guidance on accounting for income taxes. As a result, the Company may adjust the reserves for unrecognized tax benefits due to the impact of changes in its assumptions or as a result of new facts and developments, such as changes to interpretations of relevant tax law, assessments from taxing authorities, settlements with taxing authorities and lapses of statutes of limitation. The Company’s 2023 fiscal year tax expense is anticipated to be unchanged related to uncertain income tax positions.

In accordance with its accounting policy, the Company recognizes accrued interest and penalties related to unrecognized benefits as a component of income tax expense.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

INVENTORIES

3 Months Ended

Dec. 30, 2022

Inventory Disclosure [Abstract]

INVENTORIES

The Company values inventory at the lower of cost (determined using the first-in first-out method) or net realizable value. Inventories at the end of the respective periods consisted of the following:


	December 30, 2022		September 30, 2022		December 31, 2021
Raw materials	$	149,986	$	166,443	$	150,064
Work in process	229		230		142
Finished goods	101,310		81,976		67,225
	$	251,525	$	248,649	$	217,431

GOODWILL

3 Months Ended

Dec. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

The changes in goodwill during the three months ended December 30, 2022 and December 31, 2021 were as follows:


	December 30, 2022		December 31, 2021
Balance at beginning of period	$	11,160	$	11,221


Amount attributable to movements in foreign currency rates	7		(4)
Balance at end of period	$	11,167	$	11,217

The Company evaluates the carrying value of goodwill for a reporting unit on an annual basis or more frequently when events and circumstances warrant such an evaluation. In conducting this analysis, the Company uses the income approach to compare the reporting unit's carrying value to its indicated fair value. Fair value is determined primarily by using a discounted cash flow methodology that requires considerable management judgment and long-term assumptions and is considered a Level 3 (unobservable) fair value determination in the fair value hierarchy (see Note 13) below.

WARRANTIES

3 Months Ended

Dec. 30, 2022

Product Warranties Disclosures [Abstract]

WARRANTIES

The Company provides warranties on certain of its products as they are sold. The following table summarizes the Company’s warranty activity for the three months ended December 30, 2022 and December 31, 2021.


	December 30, 2022		December 31, 2021
Balance at beginning of period	$	9,639	$	14,073
Expense accruals for warranties issued during the period	1,852		767
Less current period warranty claims paid	1,793		2,095
Balance at end of period	$	9,698	$	12,745

CONTINGENCIES	3 Months Ended
CONTINGENCIES	Dec. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIESThe Company is subject to various legal actions and proceedings in the normal course of business, including those related to commercial disputes, product liability, intellectual property and regulatory matters. The Company is insured against loss for certain of these matters. Although litigation is subject to many uncertainties and the ultimate exposure with respect to these matters cannot be ascertained, management does not believe the final outcome of any pending litigation will have a material adverse effect on the financial condition, results of operations, liquidity or cash flows of the Company.

INDEBTEDNESS	3 Months Ended
INDEBTEDNESS	Dec. 30, 2022
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS The Company had no debt outstanding at December 30, 2022, September 30, 2022, or December 31, 2021. Revolvers The Company and certain of its subsidiaries have entered into an unsecured credit facility with PNC Bank National Association and Associated Bank, N.A. ("the Lending Group"). This credit facility consists of a $75 million Revolving Credit Facility among the Company, certain of the Company’s subsidiaries, PNC Bank National Association, as lender and as administrative agent, and the other lender named therein (as amended, the “Credit Agreement” or “Revolver”). The Revolver provides for borrowing of up to an aggregate principal amount not to exceed $75,000 with a $50,000 accordion feature that gives the Company the option to increase the maximum financing availability (i.e., an aggregate borrowing amount of $125,000) subject to the conditions of the Credit Agreement and subject to the approval of the lenders. On July 15, 2021, the Company entered into a First Amendment to this credit facility that extended its expiration date from November 15, 2022, to July 15, 2026. Other key provisions of the credit facility remained as outlined herein and the description herein is qualified in its entirety by the terms and conditions of the original Debt Agreement (a copy of which was filed as Exhibit 99.1 to the current report on Form 8-K dated and filed with the Securities and Exchange Commission on November 20, 2017) and the Amendment, (a copy of which was filed as Exhibit 10.1 to the current report on Form 8-K dated and filed with the Securities and Exchange Commission on July 16, 2021). The interest rate on the Revolver is based on LIBOR plus an applicable margin, which margin resets each quarter. The applicable margin ranges from 1.00% to 1.75% and is dependent on the Company’s leverage ratio for the trailing twelve month period. The interest rates on the Revolver at both December 30, 2022 and December 31, 2021 were approximately 5.4% and 1.1%, respectively. The Credit Agreement restricts the Company's ability to incur additional debt, includes maximum leverage ratio and minimum interest coverage ratio covenants and is unsecured. Other Borrowings The Company had no unsecured revolving credit facilities at its foreign subsidiaries as of December 30, 2022 or December 31, 2021. The Company utilizes letters of credit primarily as security for the payment of future claims under its workers’ compensation insurance, which totaled approximately $173 and $181 as of December 30, 2022 and December 31, 2021, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	Dec. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The following disclosures describe the Company’s objectives in using derivative instruments, the business purpose or context for using derivative instruments, and how the Company believes the use of derivative instruments helps achieve the stated objectives. In addition, the following disclosures describe the effects of the Company’s use of derivative instruments and hedging activities on its financial statements. Foreign Exchange Risk The Company has significant foreign operations, for which the functional currencies are denominated primarily in euros, Swiss francs, Hong Kong dollars and Canadian dollars. As the values of the currencies of the foreign countries in which the Company has operations increase or decrease relative to the U.S. dollar, the sales, expenses, profits, losses, assets and liabilities of the Company’s foreign operations, as reported in the Company’s consolidated financial statements, increase or decrease, accordingly. Approximately 12% of the Company’s revenues for the three month period ended December 30, 2022 were denominated in currencies other than the U.S. dollar. Approximately 5% were denominated in euros, approximately 5% were denominated in Canadian dollars and approximately 1% were denominated in Hong Kong dollars, with the remaining revenues denominated in various other foreign currencies. Changes in foreign currency exchange rates can cause the Company to experience unexpected financial losses or cash flow needs. The Company may mitigate a portion of the fluctuations in certain foreign currencies through the use of foreign currency forward contracts. Foreign currency forward contracts enable the Company to lock in the foreign currency exchange rate to be paid or received for a fixed amount of currency at a specified date in the future. The Company may use such foreign currency forward contracts to mitigate the risk associated with changes in foreign currency exchange rates on financial instruments and known commitments, including commitments for inventory purchases, denominated in foreign currencies. As of December 30, 2022 and December 31, 2021, the Company held no foreign currency forward contracts.

FAIR VALUE MEASUREMENTS

3 Months Ended

Dec. 30, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy has been established based on three levels of inputs, of which the first two are considered observable and the last unobservable.

•Level 1 - Quoted prices in active markets for identical assets or liabilities. These are typically obtained from real-time quotes for transactions in active exchange markets involving identical assets or liabilities.

•Level 2 - Inputs, other than quoted prices included within Level 1, which are observable for the asset or liability, either directly or indirectly. These are typically obtained from readily-available pricing sources for comparable instruments.

•Level 3 - Unobservable inputs, where there is little or no market activity for the asset or liability. These inputs reflect the reporting entity’s own assumptions of the data that market participants would use in pricing the asset or liability, based on the best information available in the circumstances.

The carrying amounts of cash, cash equivalents, short term investments, accounts receivable, and accounts payable approximated their fair values at December 30, 2022, September 30, 2022 and December 31, 2021 due to the short term maturities of these instruments. When indicators of impairment are present, the Company may be required to value certain long-lived assets such as property, plant, and equipment, and other intangibles at their fair value.

Valuation Techniques

Rabbi Trust Assets

Rabbi trust assets are classified as trading securities and are comprised of marketable debt and equity securities that are marked to fair value based on unadjusted quoted prices in active markets. The rabbi trust assets are used to fund amounts the Company owes to certain officers and other employees under the Company’s non-qualified deferred compensation plan. These assets are included in "Other assets" in the accompanying Company's Condensed Consolidated Balance Sheets, and the mark to market adjustments on the assets are recorded in “Other income, net” in the accompanying Condensed Consolidated Statements of Operations. The offsetting deferred compensation liability is also reported at fair value as "Deferred compensation liability" in the Company's accompanying Condensed Consolidated Balance Sheets. Changes in the liability are recorded in "Administrative management, finance and information systems" expense in the accompanying Condensed Consolidated Statements of Operations.

The following table summarizes the Company’s financial assets measured at fair value as of December 30, 2022:


	Level 1		Level 2		Level 3		Total
Assets:
Rabbi trust assets	$	22,684	$	—	$	—	$	22,684

The following table summarizes the Company’s financial assets measured at fair value as of September 30, 2022:


	Level 1		Level 2		Level 3		Total
Assets:
Rabbi trust assets	$	21,436	$	—	$	—	$	21,436

The following table summarizes the Company’s financial assets measured at fair value as of December 31, 2021:


	Level 1		Level 2		Level 3		Total
Assets:
Rabbi trust assets	$	29,835	$	—	$	—	$	29,835

The effect of changes in the fair value of financial instruments on the accompanying Condensed Consolidated Statements of Operations for the three month periods ended December 30, 2022 and December 31, 2021 was:


		Three Months Ended
	Location of income recognized in Statement of Operations	December 30, 2022		December 31, 2021

Rabbi trust assets	Other income, net	$	1,383	$	1,095

There were no assets or liabilities measured at fair value on a non-recurring basis in periods subsequent to their initial recognition for either of the three month periods ended December 30, 2022 or December 31, 2021.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

NEW ACCOUNTING PRONOUNCEMENTS	3 Months Ended
NEW ACCOUNTING PRONOUNCEMENTS	Dec. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS Recently issued accounting pronouncementsIn March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 is intended to provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (LIBOR) or by another reference rate expected to be discontinued. Subsequently in December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848)—Deferral of the Sunset Date of Topic 848, which delayed the effective date to December 31, 2024. The Company does not expect this guidance to have a significant impact on its financial statements and disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

REVENUES	3 Months Ended
REVENUES	Dec. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs with the transfer of control of our goods at a point in time based on shipping terms and transfer of title. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. The amount of consideration received can vary, primarily because of customer incentive or rebate arrangements. The Company estimates variable consideration based on the expected value of total consideration to which customers are likely to be entitled based on historical experience and projected market expectations. Included in the estimate is an assessment as to whether any variable consideration is constrained. Revenue estimates are adjusted at the earlier of a change in the expected value of consideration or when the consideration becomes fixed. For all contracts with customers, the Company has not adjusted the promised amount of consideration for the effects of a significant financing component as the period between the transfer of the promised goods and the customer's payment is expected to be one year or less. Sales are made on normal and customary short-term credit terms, generally ranging from 30 to 90 days, or upon delivery of point of sale transactions. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. The Company enters into contractual arrangements with customers in the form of individual customer orders which specify the goods, quantity, pricing, and associated order terms. The Company does not have contracts which are satisfied over time. Due to the nature of these contracts, no significant judgment exists in relation to the identification of the customer contract, satisfaction of the performance obligation, or transaction price. The Company expenses incremental costs of obtaining a contract due to the short-term nature of the contracts. Estimated costs of returns, allowances and discounts, based on historic experience, are accrued as a reduction to sales when revenue is recognized. The Company provides customers the right to return eligible products under certain circumstances. At December 30, 2022, the right to returns asset was $834 and the accrued returns liability was $2,317. At December 31, 2021, the right to returns asset was $780 and the accrued returns liability was $2,092. The Company also offers assurance-type warranties relating to its products sold to end customers that continue to be accounted for under ASC 460 Guarantees. The Company generally accounts for shipping and handling activities as a fulfillment activity, consistent with the timing of revenue recognition; that is, when a customer takes control of the transferred goods. In the event that a customer were to take control of a product upon or after shipment, the Company has made an accounting policy election to treat such shipping and handling activities as a fulfillment cost. Shipping and handling fees billed to customers are included in "Net Sales," and shipping and handling costs are recognized within "Marketing and selling expenses" in the same period the related revenue is recognized. The Company has a wide variety of seasonal, outdoor recreation products used primarily for fishing from a boat, diving, paddling, hiking and camping, that are sold to a variety of customers in multiple end markets. Nonetheless, the revenue recognition policies are similar among all the various products sold by the Company. See Note 16 for required disclosures of disaggregated revenue.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

SEGMENTS OF BUSINESS

3 Months Ended

Dec. 30, 2022

Segment Reporting [Abstract]

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. During the three month period ended December 30, 2022, combined net sales to two customers of the Company's Fishing, Camping and Watercraft Recreation segments represented approximately $50,062 of the Company's consolidated revenues. During the three month period ended December 31, 2021, combined net sales to one customer of the Company's Fishing, Camping and Watercraft Recreation segments represented approximately $27,305 of the Company's consolidated revenues.

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 Ended
	December 30, 2022		December 31, 2021		September 30, 2022
Net sales:
Fishing:
Unaffiliated customers	$	137,821	$	108,181
Interunit transfers	220		175
Camping:
Unaffiliated customers	11,607		14,118
Interunit transfers	6		16
Watercraft Recreation:
Unaffiliated customers	9,633		14,598
Interunit transfers	25		2
Diving
Unaffiliated customers	19,042		16,490
Interunit transfers	17		1
Other / Corporate	234		137
Eliminations	(268)		(194)
Total	$	178,337	$	153,524
Operating profit (loss):
Fishing	$	15,572	$	16,292
Camping	753		2,750
Watercraft Recreation	(415)		1,531
Diving	13		453
Other / Corporate	(10,451)		(7,266)
	$	5,472	$	13,760
Total assets (end of period):
Fishing	$	404,600	$	344,104	$	382,850
Camping	55,977		48,204		59,247
Watercraft Recreation	37,053		35,652		33,496
Diving	81,518		67,549		76,475
Other / Corporate	109,948		176,845		127,863
	$	689,096	$	672,354	$	679,931

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

3 Months Ended

Dec. 30, 2022

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)The changes in Accumulated Other Comprehensive Income (“AOCI”) by component, net of tax, for the three months ended December 30, 2022 were as follows:


	Foreign Currency Translation Adjustment		Unamortized Loss on Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance at September 30, 2022	$	791	$	(171)	$	620
Other comprehensive loss before reclassifications	2,937		—		2,937
Amounts reclassified from accumulated other comprehensive income	—		11		11
Tax effects	—		(3)		(3)
Balance at December 30, 2022	$	3,728	$	(163)	$	3,565

The changes in AOCI by component, net of tax, for the three months ended December 31, 2021 were as follows:


	Foreign Currency Translation Adjustment		Unamortized Loss on Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance at October 1, 2021	$	7,606	$	(220)	$	7,386
Other comprehensive income before reclassifications	(423)		—		(423)
Amounts reclassified from accumulated other comprehensive income	—		21		21
Tax effects	—		(5)		(5)
Balance at December 31, 2021	$	7,183	$	(204)	$	6,979

The reclassifications out of AOCI for the three months ended December 30, 2022 and December 31, 2021 were as follows:


	Three Months Ended
	December 30, 2022		December 31, 2021		Statement of Operations Presentation
Unamortized loss on defined benefit pension plans:
Amortization of loss	$	11	$	21	Other income and expense
Tax effects	(3)		(5)		Income tax expense


Total reclassifications for the period	$	8	$	16

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Dec. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The condensed consolidated financial statements included herein are unaudited. In the opinion of management, these statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Johnson Outdoors Inc. and subsidiaries (collectively, the “Company”) as of December 30, 2022 and December 31, 2021, and their results of operations for the three month periods then ended and cash flows for the three month periods then ended. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022 which was filed with the Securities and Exchange Commission on December 9, 2022. Due to seasonal variations and other factors, some of which are described herein, including related to the aftereffects of the COVID-19 pandemic and the ensuing related disruptions to the global supply chains and logistics infrastructure, and the current inflationary environment (especially as it relates to the cost of raw materials and purchased components), the results of operations for the three months ended December 30, 2022 are not necessarily indicative of the results to be expected for the Company’s full 2023 fiscal year. The current economic and business environment, including as it relates to inflationary pressures, combined with the continued impact of the pandemic on the global supply chain (specifically with respect to the sourcing, timing, availability and cost of raw materials and components that are necessary to manufacture our products) is beyond our control and remains highly uncertain and cannot be predicted at this time. See “Seasonality” and "Coronavirus (COVID-19)" in the Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere herein for additional information. The Company considers all short-term investments in interest-bearing accounts and all securities and other instruments with an original maturity of three months or less, to be equivalent to cash. Cash equivalents are stated at cost which approximates market value. All monetary amounts, other than share and per share amounts, are stated in thousands.
Recently adopted and issued accounting pronouncements	NEW ACCOUNTING PRONOUNCEMENTS Recently issued accounting pronouncementsIn March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 is intended to provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (LIBOR) or by another reference rate expected to be discontinued. Subsequently in December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848)—Deferral of the Sunset Date of Topic 848, which delayed the effective date to December 31, 2024. The Company does not expect this guidance to have a significant impact on its financial statements and disclosures.
Revenues	Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs with the transfer of control of our goods at a point in time based on shipping terms and transfer of title. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods. The amount of consideration received can vary, primarily because of customer incentive or rebate arrangements. The Company estimates variable consideration based on the expected value of total consideration to which customers are likely to be entitled based on historical experience and projected market expectations. Included in the estimate is an assessment as to whether any variable consideration is constrained. Revenue estimates are adjusted at the earlier of a change in the expected value of consideration or when the consideration becomes fixed. For all contracts with customers, the Company has not adjusted the promised amount of consideration for the effects of a significant financing component as the period between the transfer of the promised goods and the customer's payment is expected to be one year or less. Sales are made on normal and customary short-term credit terms, generally ranging from 30 to 90 days, or upon delivery of point of sale transactions. Sales, value add, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. The Company enters into contractual arrangements with customers in the form of individual customer orders which specify the goods, quantity, pricing, and associated order terms. The Company does not have contracts which are satisfied over time. Due to the nature of these contracts, no significant judgment exists in relation to the identification of the customer contract, satisfaction of the performance obligation, or transaction price. The Company expenses incremental costs of obtaining a contract due to the short-term nature of the contracts. Estimated costs of returns, allowances and discounts, based on historic experience, are accrued as a reduction to sales when revenue is recognized. The Company provides customers the right to return eligible products under certain circumstances. At December 30, 2022, the right to returns asset was $834 and the accrued returns liability was $2,317. At December 31, 2021, the right to returns asset was $780 and the accrued returns liability was $2,092. The Company also offers assurance-type warranties relating to its products sold to end customers that continue to be accounted for under ASC 460 Guarantees. The Company generally accounts for shipping and handling activities as a fulfillment activity, consistent with the timing of revenue recognition; that is, when a customer takes control of the transferred goods. In the event that a customer were to take control of a product upon or after shipment, the Company has made an accounting policy election to treat such shipping and handling activities as a fulfillment cost. Shipping and handling fees billed to customers are included in "Net Sales," and shipping and handling costs are recognized within "Marketing and selling expenses" in the same period the related revenue is recognized. The Company has a wide variety of seasonal, outdoor recreation products used primarily for fishing from a boat, diving, paddling, hiking and camping, that are sold to a variety of customers in multiple end markets. Nonetheless, the revenue recognition policies are similar among all the various products sold by the Company.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

EARNINGS PER SHARE (“EPS”) (Tables)

3 Months Ended

Dec. 30, 2022

Earnings Per Share [Abstract]

Schedule of Dividends Declared

Dividends per share for the three month periods ended December 30, 2022 and December 31, 2021 were as follows:


	Three Months Ended
	December 30, 2022		December 31, 2021
Dividends declared per common share:
Class A	$	0.31	$	0.30
Class B	$	0.28	$	0.27

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS (Tables)

3 Months Ended

Dec. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Non-Vested Stock Activity

A summary of non-vested stock activity for the three months ended December 30, 2022 related to the Company’s stock ownership plans is as follows:


	Shares	Weighted Average Grant Price
Non-vested stock at September 30, 2022	58,136	$	73.37
Non-vested stock grants	16,143	56.55
Restricted stock vested	(7,350)	71.43

Non-vested stock at December 30, 2022	66,929	69.52

Schedule of RSU Activity

A summary of RSU activity for the three months ended December 30, 2022 follows:


	Number of RSUs	Weighted Average Grant Price
RSUs at September 30, 2022	65,994	$	82.58
RSUs granted	36,484	56.54
RSUs vested	(26,742)	64.51

RSUs at December 30, 2022	75,736	76.42

LEASES (Tables)

3 Months Ended

Dec. 30, 2022

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense recognized in the accompanying Condensed Consolidated Statements of Operations for the three months ended December 30, 2022 and December 31, 2021 were as follows:


	Three months ended
	December 30, 2022		December 31, 2021
Lease Cost
Operating lease costs	$	2,430	$	2,107
Short-term lease costs	529		414
Variable lease costs	41		45
Total lease cost	$	3,000	$	2,566

Supplemental balance sheet, cash flow, and other information related to operating leases was as follows:


	Three months ended
	December 30, 2022			December 31, 2021
Operating leases:

Operating lease ROU assets	$	55,647		$	47,443

Current operating lease liabilities	7,510			5,646
Non-current operating lease liabilities	49,519			42,817
Total operating lease liabilities	$	57,029		$	48,463

Weighted average remaining lease term (in years)	12.21			12.15

Weighted average discount rate	3.15		%	3.09		%

Cash paid for amounts included in the measurement of lease liabilities	$	2,149		$	1,875

Schedule of Right of Use Assets and Lease Liabilities

Supplemental balance sheet, cash flow, and other information related to operating leases was as follows:


	Three months ended
	December 30, 2022			December 31, 2021
Operating leases:

Operating lease ROU assets	$	55,647		$	47,443

Current operating lease liabilities	7,510			5,646
Non-current operating lease liabilities	49,519			42,817
Total operating lease liabilities	$	57,029		$	48,463

Weighted average remaining lease term (in years)	12.21			12.15

Weighted average discount rate	3.15		%	3.09		%

Cash paid for amounts included in the measurement of lease liabilities	$	2,149		$	1,875

Schedule of Maturities of Operating Lease Liabilities

Future minimum rental commitments under non-cancelable operating leases with an initial lease term in excess of one year at December 30, 2022 were as follows:


Year	Related parties included in total		Total
Remainder of 2023	$	929	$	6,822
2024	1,270		8,166
2025	1,308		7,545
2026	1,348		5,878
2027	226		4,710
Thereafter	—		36,096
Total undiscounted lease payments	5,081		69,217
Less: Imputed interest	(155)		(12,188)
Total net lease liability	$	4,926	$	57,029

INCOME TAXES (Tables)

3 Months Ended

Dec. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Earnings Before Income Taxes, Income Tax Expense and Effective Income Tax Rate

For the three months ended December 30, 2022 and December 31, 2021, the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows:


	Three Months Ended
(thousands, except tax rate data)	December 30, 2022			December 31, 2021
Profit before income taxes	$	8,166		$	14,589
Income tax expense	2,287			3,733
Effective income tax rate	28.0		%	25.6		%

Schedule of Tax Jurisdictions of Entities with Valuation Allowances

The significant tax jurisdictions that have a valuation allowance for the periods ended December 30, 2022 and December 31, 2021 were:


December 30, 2022			December 31, 2021
Indonesia			Indonesia
Switzerland			Switzerland

INVENTORIES (Tables)

3 Months Ended

Dec. 30, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at the end of the respective periods consisted of the following:


	December 30, 2022		September 30, 2022		December 31, 2021
Raw materials	$	149,986	$	166,443	$	150,064
Work in process	229		230		142
Finished goods	101,310		81,976		67,225
	$	251,525	$	248,649	$	217,431

GOODWILL (Tables)

3 Months Ended

Dec. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in goodwill during the three months ended December 30, 2022 and December 31, 2021 were as follows:


	December 30, 2022		December 31, 2021
Balance at beginning of period	$	11,160	$	11,221


Amount attributable to movements in foreign currency rates	7		(4)
Balance at end of period	$	11,167	$	11,217

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
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+ Details

WARRANTIES (Tables)

3 Months Ended

Dec. 30, 2022

Product Warranties Disclosures [Abstract]

Schedule of Warranty Activity

The following table summarizes the Company’s warranty activity for the three months ended December 30, 2022 and December 31, 2021.


	December 30, 2022		December 31, 2021
Balance at beginning of period	$	9,639	$	14,073
Expense accruals for warranties issued during the period	1,852		767
Less current period warranty claims paid	1,793		2,095
Balance at end of period	$	9,698	$	12,745

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Dec. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets Measured at Fair Value

The following table summarizes the Company’s financial assets measured at fair value as of December 30, 2022:


	Level 1		Level 2		Level 3		Total
Assets:
Rabbi trust assets	$	22,684	$	—	$	—	$	22,684

The following table summarizes the Company’s financial assets measured at fair value as of September 30, 2022:


	Level 1		Level 2		Level 3		Total
Assets:
Rabbi trust assets	$	21,436	$	—	$	—	$	21,436

The following table summarizes the Company’s financial assets measured at fair value as of December 31, 2021:


	Level 1		Level 2		Level 3		Total
Assets:
Rabbi trust assets	$	29,835	$	—	$	—	$	29,835

Schedule of Effect of Changes in the Fair Value of Financial Instruments


		Three Months Ended
	Location of income recognized in Statement of Operations	December 30, 2022		December 31, 2021

Rabbi trust assets	Other income, net	$	1,383	$	1,095

SEGMENTS OF BUSINESS (Tables)

3 Months Ended

Dec. 30, 2022

Segment Reporting [Abstract]

Schedule of Operations by Business Unit

A summary of the Company’s operations by business segment is presented below:


	Three Months Ended
	December 30, 2022		December 31, 2021		September 30, 2022
Net sales:
Fishing:
Unaffiliated customers	$	137,821	$	108,181
Interunit transfers	220		175
Camping:
Unaffiliated customers	11,607		14,118
Interunit transfers	6		16
Watercraft Recreation:
Unaffiliated customers	9,633		14,598
Interunit transfers	25		2
Diving
Unaffiliated customers	19,042		16,490
Interunit transfers	17		1
Other / Corporate	234		137
Eliminations	(268)		(194)
Total	$	178,337	$	153,524
Operating profit (loss):
Fishing	$	15,572	$	16,292
Camping	753		2,750
Watercraft Recreation	(415)		1,531
Diving	13		453
Other / Corporate	(10,451)		(7,266)
	$	5,472	$	13,760
Total assets (end of period):
Fishing	$	404,600	$	344,104	$	382,850
Camping	55,977		48,204		59,247
Watercraft Recreation	37,053		35,652		33,496
Diving	81,518		67,549		76,475
Other / Corporate	109,948		176,845		127,863
	$	689,096	$	672,354	$	679,931

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

3 Months Ended

Dec. 30, 2022

Equity [Abstract]

Schedule of Changes in AOCI by Component

The changes in Accumulated Other Comprehensive Income (“AOCI”) by component, net of tax, for the three months ended December 30, 2022 were as follows:


	Foreign Currency Translation Adjustment		Unamortized Loss on Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance at September 30, 2022	$	791	$	(171)	$	620
Other comprehensive loss before reclassifications	2,937		—		2,937
Amounts reclassified from accumulated other comprehensive income	—		11		11
Tax effects	—		(3)		(3)
Balance at December 30, 2022	$	3,728	$	(163)	$	3,565

The changes in AOCI by component, net of tax, for the three months ended December 31, 2021 were as follows:


	Foreign Currency Translation Adjustment		Unamortized Loss on Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance at October 1, 2021	$	7,606	$	(220)	$	7,386
Other comprehensive income before reclassifications	(423)		—		(423)
Amounts reclassified from accumulated other comprehensive income	—		21		21
Tax effects	—		(5)		(5)
Balance at December 31, 2021	$	7,183	$	(204)	$	6,979

Schedule of Reclassifications Out of AOCI

The reclassifications out of AOCI for the three months ended December 30, 2022 and December 31, 2021 were as follows:


	Three Months Ended
	December 30, 2022		December 31, 2021		Statement of Operations Presentation
Unamortized loss on defined benefit pension plans:
Amortization of loss	$	11	$	21	Other income and expense
Tax effects	(3)		(5)		Income tax expense


Total reclassifications for the period	$	8	$	16

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Dec. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Allowances for doubtful accounts receivable	$ 1,151	$ 1,037	$ 2,662
Accounts receivable, net	$ 120,553	$ 91,919	$ 86,689

EARNINGS PER SHARE (“EPS”) (Details) - $ / shares	3 Months Ended
EARNINGS PER SHARE (“EPS”) (Details) - $ / shares	Dec. 30, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Percentage of cash dividends on Class A common stock relative to Class B common stock	110.00%
Non-Vested Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	60,390	37,916
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	53,699	26,232
Class A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends declared per common share (in USD per share)	$ 0.31	$ 0.30
Class B
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends declared per common share (in USD per share)	$ 0.28	$ 0.27

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Mar. 02, 2017	Dec. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)		395,018
Award performance period (in years)		3 years
Employee stock purchase plan, purchase price (in percent)	85.00%
Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan shares issued (in shares)		0	0
Non-Vested Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares tendered for tax withholding (in shares)		2,289	1,778
Stock-based compensation expense, net of forfeitures		$ 456	$ 295
Unrecognized stock-based compensation expense		2,938
Fair value of vested restricted stock		$ 429	573
Non-Vested Stock \| Director \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		1 year
Non-Vested Stock \| Employees \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		4 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of forfeitures		$ 476	727
Unrecognized stock-based compensation expense		3,175
Fair value of vested restricted stock		$ 2,247	$ 2,759
Shares tendered back to company (in shares)		5,055	2,799
Restricted Stock Units (RSUs) \| Vesting Period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		1 year
Restricted Stock Units (RSUs) \| Vesting Period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		3 years
Employee Stock \| Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of forfeitures		$ 21	$ 104
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Bonus achievement target level (in percent)		80.00%
Bonus payout as a percentage of target award		50.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Bonus achievement target level (in percent)		120.00%
Bonus payout as a percentage of target award		150.00%

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS - Schedule of Non-Vested Stock Activity (Details) - Non-Vested Stock	3 Months Ended
	Dec. 30, 2022 $ / shares shares
Shares
Beginning balance (in shares) \| shares	58,136
Grants (in shares) \| shares	16,143
Vested (in shares) \| shares	(7,350)
Ending balance (in shares) \| shares	66,929
Weighted Average Grant Price
Beginning balance (in USD per share) \| $ / shares	$ 73.37
Grants (in USD per share) \| $ / shares	56.55
Vested (in USD per share) \| $ / shares	71.43
Ending balance (in USD per share) \| $ / shares	$ 69.52

STOCK-BASED COMPENSATION AND STOCK OWNERSHIP PLANS - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Dec. 30, 2022 $ / shares shares
Number of RSUs
Beginning balance (in shares) \| shares	65,994
RSUs granted (in shares) \| shares	36,484
RSUs vested (in shares) \| shares	(26,742)
Ending balance (in shares) \| shares	75,736
Weighted Average Grant Price
Beginning balance (in USD per share) \| $ / shares	$ 82.58
RSUs granted (in USD per share) \| $ / shares	56.54
RSUs vested (in USD per share) \| $ / shares	64.51
Ending balance (in USD per share) \| $ / shares	$ 76.42

LEASES - Narrative (Details) $ in Thousands	3 Months Ended
LEASES - Narrative (Details) $ in Thousands	Dec. 30, 2022 USD ($) contract	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Number of contracts \| contract	200
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	16 years
Affiliated Entity
Lessee, Lease, Description [Line Items]
Operating lease, cost \| $	$ 314	$ 291

LEASES - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Lease Cost
Operating lease costs	$ 2,430	$ 2,107
Short-term lease costs	529	414
Variable lease costs	41	45
Total lease cost	$ 3,000	$ 2,566

LEASES - Schedule of Right of Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021	Sep. 30, 2022
Operating leases:
Operating lease ROU assets	$ 55,647	$ 47,443	$ 56,625
Current operating lease liabilities	7,510	5,646	7,223
Non-current operating lease liabilities	49,519	42,817	$ 50,680
Total operating lease liabilities	$ 57,029	$ 48,463
Weighted average remaining lease term (in years)	12 years 2 months 15 days	12 years 1 month 24 days
Weighted average discount rate	3.15%	3.09%
Cash paid for amounts included in the measurement of lease liabilities	$ 2,149	$ 1,875

LEASES - Schedule of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 30, 2022	Dec. 31, 2021
Finance Leases, After Adoption of 842:
Remainder of 2023	$ 6,822
2024	8,166
2025	7,545
2026	5,878
2027	4,710
Thereafter	36,096
Total undiscounted lease payments	69,217
Less: Imputed interest	(12,188)
Total net lease liability	57,029	$ 48,463
Affiliated Entity
Finance Leases, After Adoption of 842:
Remainder of 2023	929
2024	1,270
2025	1,308
2026	1,348
2027	226
Thereafter	0
Total undiscounted lease payments	5,081
Less: Imputed interest	(155)
Total net lease liability	$ 4,926

INCOME TAXES - Schedule of Earnings Before Income Taxes, Income Tax Expense and Effective Income Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Profit before income taxes	$ 8,166	$ 14,589
Income tax expense	$ 2,287	$ 3,733
Effective income tax rate	28.00%	25.60%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 149,986	$ 166,443	$ 150,064
Work in process	229	230	142
Finished goods	101,310	81,976	67,225
Inventories	$ 251,525	$ 248,649	$ 217,431

GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended
GOODWILL (Details) - USD ($) $ in Thousands	Dec. 30, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Balance at beginning of period	$ 11,160	$ 11,221
Amount attributable to movements in foreign currency rates	7	(4)
Balance at end of period	$ 11,167	$ 11,217

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

WARRANTIES (Details) - USD ($) $ in Thousands	3 Months Ended
WARRANTIES (Details) - USD ($) $ in Thousands	Dec. 30, 2022	Dec. 31, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 9,639	$ 14,073
Expense accruals for warranties issued during the period	1,852	767
Less current period warranty claims paid	1,793	2,095
Balance at end of period	$ 9,698	$ 12,745

INDEBTEDNESS (Details) - USD ($)	3 Months Ended
INDEBTEDNESS (Details) - USD ($)	Dec. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt outstanding	$ 0	$ 0	$ 0
Financial Standby Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding	173,000		181,000
Unsecured Revolving Credit Facilities At Foreign Subsidiaries
Debt Instrument [Line Items]
Unsecured revolving credit facilities	0		$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 125,000,000
Interest rate (in percent)	5.40%		1.10%
Revolving Credit Facility \| Minimum \| LIBOR
Debt Instrument [Line Items]
Margin percentage	1.00%
Revolving Credit Facility \| Maximum \| LIBOR
Debt Instrument [Line Items]
Margin percentage	1.75%
Revolving Credit Facility \| Revolvers Borrowing Capacity Standard
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75,000,000
Accordion feature	$ 50,000,000

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - contract	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Number of derivative instruments held	0	0
Geographic Concentration Risk \| Revenue Benchmark \| Product
Derivative [Line Items]
Percent of revenues in foreign currency	12.00%
Geographic Concentration Risk \| Revenue Benchmark \| Euro
Derivative [Line Items]
Percent of revenues in foreign currency	5.00%
Geographic Concentration Risk \| Revenue Benchmark \| Canadian Dollars
Derivative [Line Items]
Percent of revenues in foreign currency	5.00%
Geographic Concentration Risk \| Revenue Benchmark \| Hong Kong, Dollars
Derivative [Line Items]
Percent of revenues in foreign currency	1.00%

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	$ 22,684	$ 21,436	$ 29,835
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	22,684	21,436	29,835
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	0	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Rabbi trust assets	$ 0	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Schedule of Effect of Changes in the Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Rabbi trust assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Other income, net	$ 1,383	$ 1,095

FAIR VALUE MEASUREMENTS - Narrative (Details) - Nonrecurring - USD ($)	Dec. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 0	$ 0
Liabilities, fair value disclosure	$ 0	$ 0

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Dec. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, financing component	one year or less
Accrued customer programs	$ 3,943	$ 4,726	$ 5,911
Accrued Discounts And Returns
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract with customer, asset	834		780
Accrued customer programs	$ 2,317		$ 2,092

SEGMENTS OF BUSINESS (Details) - USD ($) $ in Thousands	3 Months Ended
SEGMENTS OF BUSINESS (Details) - USD ($) $ in Thousands	Dec. 30, 2022	Dec. 31, 2021	Sep. 30, 2022
Segment Reporting Information [Line Items]
Net sales	$ 178,337	$ 153,524
Operating profit (loss)	5,472	13,760
Total assets (end of period)	689,096	672,354	$ 679,931
Unaffiliated customers \| Fishing
Segment Reporting Information [Line Items]
Net sales	137,821	108,181
Operating profit (loss)	15,572	16,292
Total assets (end of period)	404,600	344,104	382,850
Unaffiliated customers \| Camping
Segment Reporting Information [Line Items]
Net sales	11,607	14,118
Operating profit (loss)	753	2,750
Total assets (end of period)	55,977	48,204	59,247
Unaffiliated customers \| Watercraft Recreation
Segment Reporting Information [Line Items]
Net sales	9,633	14,598
Operating profit (loss)	(415)	1,531
Total assets (end of period)	37,053	35,652	33,496
Unaffiliated customers \| Diving
Segment Reporting Information [Line Items]
Net sales	19,042	16,490
Operating profit (loss)	13	453
Total assets (end of period)	81,518	67,549	76,475
Interunit transfers
Segment Reporting Information [Line Items]
Net sales	(268)	(194)
Interunit transfers \| Fishing
Segment Reporting Information [Line Items]
Net sales	220	175
Interunit transfers \| Camping
Segment Reporting Information [Line Items]
Net sales	6	16
Interunit transfers \| Watercraft Recreation
Segment Reporting Information [Line Items]
Net sales	25	2
Interunit transfers \| Diving
Segment Reporting Information [Line Items]
Net sales	17	1
Other / Corporate
Segment Reporting Information [Line Items]
Net sales	234	137
Operating profit (loss)	(10,451)	(7,266)
Total assets (end of period)	109,948	176,845	$ 127,863
Two Customers
Segment Reporting Information [Line Items]
Net sales	$ 50,062
Customer One
Segment Reporting Information [Line Items]
Net sales		$ 27,305

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Changes in AOCI by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 488,014
Balance, end of period	494,221	$ 466,613
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	791	7,606
Other comprehensive income (loss) before reclassifications	2,937	(423)
Amounts reclassified from accumulated other comprehensive income	0	0
Tax effects	0	0
Balance, end of period	3,728	7,183
Unamortized Loss on Defined Benefit Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(171)	(220)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	11	21
Tax effects	(3)	(5)
Balance, end of period	(163)	(204)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	620	7,386
Other comprehensive income (loss) before reclassifications	2,937	(423)
Amounts reclassified from accumulated other comprehensive income	11	21
Tax effects	(3)	(5)
Balance, end of period	$ 3,565	$ 6,979

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Reclassifications Out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 30, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of loss	$ 1,904	$ 774
Income tax expense	(2,287)	(3,733)
Net income	5,879	10,856
Unamortized Loss on Defined Benefit Pension Plans \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of loss	11	21
Income tax expense	(3)	(5)
Net income	$ 8	$ 16

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details