World Footwear

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Columbia Sportswear with record results

Dec 9, 2015 United States
Columbia Sportswear with record results
The US-based footwear company reported record net sales of 767.6 million US dollars for the quarter ended on the 30th of September, a 14% increase (18% constant-currency), from similar period in 2014
“During the third quarter, the Columbia, Sorel and Prana brands combined to generate 26% net sales growth across North America”, commented Tim Boyle, Columbia’s Chief Executive Officer, adding: “Better supply chain execution resulted in more timely delivery of wholesale customers’ Fall advance orders, which has enabled them to benefit from increased sell-through volumes thus far in the season. The Columbia brand also continued to demonstrate its resurgence in Europe-direct markets, posting mid-twenty-percent constant-currency growth in that important region during the quarter (…) On October 9 we launched the largest integrated global marketing campaign in the Columbia brand’s history… Our record third quarter and year-to-date results illustrate the increasing earnings power of our brand portfolio. We believe we are only beginning to unlock the long-term potential of our portfolio of brands.”

Columbia Sportswear Company reported record net sales of 767.6 million US dollars for the quarter ended on the 30th of September, a 14% increase (18% constant-currency), from similar period in 2014. This growth included double-digit net sales increases from each of the company’s brands, 25% growth in North America and high-teen constant-currency percentage growth in Europe-direct markets.

Net sales grew by 26% in the US and 16% in Canada, reflecting growth led by the Columbia and Sorel brands. In the Latin America/Asia Pacific (LAAP) region a 11% net sales decline was registered. The Europe/Middle East/Africa (EMEA) region also registered a decline in net sales (-14%).

Global Columbia brand net sales increased by 10% (14% constant-currency) to 609.7 million US dollars, while the Global Sorel brand net sales increased by 48% (59% constant-currency) reaching 86.2 million US dollars. Global Prana brand net sales grew by 22% (same in constant-currency) totaling 34.4 million US dollars, and global Mountain Hardwear brand net sales increased by 12% (17% constant-currency) to 34.8 million US dollars.



Global Apparel, Accessories & Equipment net sales increased by 9% (12% in constant-currency) totaling 596.1 million US dollars, and Footwear net sales increased by 36% (46 % constant-currency) totaling 171.5 million US dollars.

Third quarter net income grew 39% reaching a record 91.1 million US dollars.

Net sales through the first nine months of 2015 increased by 14% (19% constant-currency), to a record 626.8 million US dollars.

Net income through the first nine months of 2015, including incremental profit from the Prana brand, increased by 36%, reaching a record 111.0 million US dollars, or 1.56 US dollars per diluted share.

The company expects 2015 net sales growth of approximately 10.5% (14.5% in constant-currency) resulting in total net sales of more than 2.3 billion US dollars, compared to 2014 net sales of 2.1 billion US dollars. The company is anticipating net income after non-controlling interest of approximately 165 million US dollars to 169 million US dollars, reflecting an increase of approximately 20% to 23% compared with net income in 2014.

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