World Footwear

Companies

Columbia Sportswear consolidates growth

Aug 7, 2019 United States
Columbia Sportswear consolidates growth
The US-based sportswear company announced growth of 9% in the second quarter for net sales. The increase in the first half of the year amounted to 8%
President and Chief Executive Officer Tim Boyle commented: "2019 is shaping up to be another great year for Columbia Sportswear Company. Momentum across our diverse brand portfolio, distribution channels and regions along with Project CONNECT financial benefits fuelled record second quarter and first half financial performance. The Columbia brand generated double-digit constant-currency growth in the quarter and the first half of the year, led by US wholesale and direct-to-consumer performance. SOREL’s progress towards becoming a year-round brand is evident in the success of Spring 2019 styles, which contributed to greater than 30% constant-currency growth in the quarter and first half of the year. After several challenging years, Mountain Hardwear generated double-digit constant-currency growth in the quarter and is poised for continued growth in the second half of the year."

Second Quarter Results


Net sales in the period increased by 9% (11% constant-currency) to 526.2 million, from 481.6 million US dollars for the comparable period in 2018. Net income increased by 137% reaching 23.0 million US dollars, or 0.34 US dollars per diluted share, from 9.7 million US dollars, or 0.14 US dollars per diluted share, in similar period in 2018.

Columbia, the main brand in the company's portfolio accounting for more than 85% of the group' sales, achieved growth of 10% year on year. The outdoor footwear brand Sorel achieved second-quarter growth of 32%. Brands prAna and Mountain Hardwear increased sales by 2% and 9% respectively.

The US represent the company's main market with a share of 60% in total net sales.

First Half Results


Net sales increased by 8% (10% constant-currency) to 1 180.8 million US dollars, compared to 1 088.9 million US dollars in similar period in 2018. Net income increased by 77% totalling 97.2 million US dollars, or 1.41 US dollars per diluted share, compared to 54.8 million US dollars, or 0.77 US dollars per diluted share, for the comparable period in 2018. First half 2019 net income includes the benefit of full ownership of the China business, which became a wholly owned subsidiary effective from January 2019 onwards.

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