World Footwear

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Columbia Sportswear with mixed quarter results

Jul 28, 2016 United States
Columbia Sportswear with mixed quarter results
Net sales for the period increased by 2% but the net loss aggravated, compared to similar period in 2015
The Portland-based company announced record net sales of 388.8 million US dollars for the quarter ended on the 30th of June, a 2% increase (2% constant-currency) compared with net sales of 380.2 million US dollars in similar period last year. Second quarter net loss totaled 8.2 million US dollars (net loss of 6.5 million US dollars in similar period in 2015).

In the second quarter of the current financial year, Global Apparel, Accessories & Equipment net sales increased by 4% (4% constant-currency) to 321.5 million US dollars and Footwear net sales declined by 4% (4% constant-currency) totaling 67.3 million US dollars.

Through the first six months of the year, net sales grew by 54.7 million, or 6% (8% constant-currency), and totaled 913.9 million US dollars. First half net income increased by 19%, totaling 23.6 million US dollars. First half net income totaled 19.9 million US dollars. 

Chief Executive Officer Tim Boyle commented: "Our successful first half results were highlighted by solid growth from three of our four major brands and improved gross margins in a challenging global environment. High-single-digit wholesale growth and low-20-percent direct-to-consumer growth in the US, combined with mid-20-percent constant-currency growth in Europe-direct markets and 20 percent constant-currency growth in Canada, demonstrate that we gained market share in each of these important geographies during the first half of 2016."

Boyle concluded: "Our powerful brand portfolio, strong balance sheet and disciplined cost management provide us the financial flexibility to continue making strategic investments to build our brands, drive consumer demand, and improve profitability over the long term."

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