World Footwear

Companies

Columbia Sportswear registers record net sales

Nov 17, 2014 United States
Columbia Sportswear registers record net sales
The US based company reported 29% net sales increase to a record 675 million US dollars and raised the full year 2014 net sales and earnings outlook

Columbia Sportswear announced its results for the quarter ended on the 30th of September, with consolidated net sales increased 29% to a record 675.3 million US dollars. Looking into the different regions where the company operates, the performance in the US and Latin America/Asia Pacific (LAAP) must be underlined with net sales increasing 26% to 406.3 million US dollars and 72% to 123.5 million US dollars.

Columbia brand net sales increased 29% to 555.4 million US dollars, Sorel brand net sales increased 23% to 58.2 million US dollars, and the newly-acquired prAna brand contributed 28.2 million US dollars of incremental net sales. Those increases were partially offset by a 24 percent decline in Mountain Hardwear net sales to 31.0 million US dollars.

Third quarter consolidated net sales growth of 152.2 million US dollars included organic growth of approximately 73.3 million US dollars, or 14%, coupled with incremental net sales of roughly 50.7 US dollars million from the company’s China joint venture (JV) and approximately 28.2 million US dollars from the newly-acquired prAna brand. Changes in currency exchange rates negatively affected the year-over-year net sales comparison by less than 1 percentage point.

By segment, apparel, accessories & equipment net sales grew 28% to 549.4 million US dollars. This very dynamic growth was exceed by the performance of the footwear segment net sales growing 33% to 125.9 million US dollars.




Net income for the period grew 20% and totaling 65.6 million US dollars (0.93 US dollars per diluted share). The Board of Directors approved a 7% increase in the quarterly dividend to 0.15 US dollars per share.

Tim Boyle, Columbia’s President and Chief Executive Officer, commented: “I’m thrilled to announce these outstanding third quarter results which reflect strong performance by our Columbia and Sorel brands in North American wholesale and direct-to-consumer channels. In addition, strengthening of the Columbia brand in our Europe-direct markets and incremental sales from our new China JV and newly-acquired prAna brand further bolstered top-line growth.”

Bearing in mind this set of results the company revised its full year 2014 Outlook, expecting now consolidated net sales to increase approximately 22% and net income to grow approximately 35% to 127 million US dollars (1.80 US dollars per diluted share). “In response to our strong year-to-date performance, we raised our full year 2014 financial outlook to anticipate consolidated net sales growth of approximately 22% and a 35% increase in net income. In addition, we raised our quarterly dividend for the second time this year, bringing the cumulative increase in the dividend during 2014 to 20%”.

Columbia Sportswear Company is a key player in the global outdoor and active lifestyle apparel, footwear, accessories and equipment industry. Founded in 1938 in Portland, Oregon, the company has assembled a portfolio of global brands whose products are sold in approximately 100 countries. In addition to the Columbia brand, Columbia Sportswear Company also owns the Mountain Hardwear, Sorel, prAna, Montrail and OutDry brands.

For more information about Columbia Sportswear please visit the company's website.

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