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Columbia Sportswear posts revenue growth

Feb 9, 2022 United States
Columbia Sportswear posts revenue growth
The US-based sportswear company has reported sales increase of 25% over 2021, reaching 3.13 billion US dollars. Fourth quarter results were driven by strong consumer demand
"Fourth quarter and full year financial results were exceptional. Record financial performance reflects the strength of our brands and the tremendous efforts and resilience of our employees globally. In the quarter, robust consumer demand led to results that far exceeded our financial outlook driven by DTC outperformance and a highly favourable full price selling environment, which benefited gross margin. Throughout the season, our Fall 2021 sell-through rates have been outstanding, including the successful global launch of Omni-Heat Infinity”, commented Tim Boyle, Chairman, President and Chief Executive Officer at Columbia Sportswear.


Fourth Quarter Results

(all comparisons are between fourth quarter 2021 and fourth quarter 2020)

In the fourth quarter of fiscal 2021, ended on the 31st of December, the company's net sales increased by 23%, reaching 1.13 billion US dollars, as compared to the same period of the prior year. Net income for the period rose by 64%, totalling 157.0 million US dollars, or 2.39 US dollars per diluted share, as compared to net income of 95.8 million US dollars, or 1.44 US dollars per diluted share, in the fourth quarter of fiscal 2021.

In the last quarter of fiscal 2021, Columbia net sales increased by 28%, amounting to 894.2 million US dollars. Sorel brand net sales totalled 163.4 million US dollars in this quarter, reflecting growth of 9%. prAna recorded net sales grew by 7% to 34.4 million US dollars. Mountain Hardwear net sales rose by 30%, adding up to 37.8 million US dollars.

Full Year 2021 Results

(all comparisons are between full year 2021 and full year 2020)

In the fiscal year 2021, Columbia Sportswear reported net sales increase of 25%, reaching 3.13 billion US dollars. Net income grew by 228%, totalling 354.1 million US dollars, or 5.33 US dollars per diluted share, on a comparable basis to net income of 108.0 million US dollars, or 1.62 US dollars per diluted share, in 2020.

In the past year, Columbia net sales amounted to 2.56 billion US dollars, reflecting growth of 27%. Sorel net sales rose by 9%, totalling 320.9 million US dollars. prAna net sales rose by 8%, reaching 141.9 million US dollars. Mountain Hardwear net sales increased by 33% to 106.2 million US dollars.

Full Year 2022 Outlook

“As we begin 2022, we are acutely focused on unlocking the growth opportunities we see across the business while mitigating supply chain and inflationary pressures. Our powerful brand portfolio is well positioned to connect active people with their passions and capitalize on the popularity of outdoor activities”, added Tim Boyle, Chairman, President and Chief Executive Officer at Columbia Sportswear.

For the fiscal year 2022, Columbia Sportswear is expecting net sales to increase between 16% to 18%, reaching from 3.63 billion US dollars to 3.69 billion US dollars.


Image Credits: fashionnetwork.com

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