Home / Knowledge / News / Apparel/Garments / Columbia Sportswear's Q1 FY16 sees record growth
Columbia Sportswear's Q1 FY16 sees record growth
03
May '16
Courtesy: Columbia Sportswear
Courtesy: Columbia Sportswear
Global active lifestyle apparel brands' company, Columbia Sportswear, reported record first quarter results in fiscal 2016, ended March 31, with 20 per cent rise in net income to $31.8 million ($26.5 million previously) and 10 per cent rise in net sales to $525.1 million ($478.9 million previously).

The company saw record net sales growth owing to an 18 per cent growth in net sales of its US operations, a 7 per cent growth in net sales of the Europe, Middle East and Africa (EMEA) region, and 4 per cent increase in Canada net sales.

Net income saw a record first quarter growth in FY16 owing to adoption of a newly issued accounting standard, which led to tax savings of $4.1 million or $0.06 per diluted share.

Operating income also saw a record first quarter growth of $44.3 million or 8.4 percent of net sales.

Commenting on the results, Tim Boyle, CEO of Columbia Sportswear said, “Our diverse brand portfolio drove strong growth during the first quarter, including high-20 per cent growth in our US direct-to-consumer channels and low-teen percentage growth in our US wholesale channel.”

“The Columbia, Sorel, Prana and Mountain Hardwear brands each generated double-digit percentage constant-currency net sales growth in North America. We're also extremely encouraged by our continued progress in our Europe-direct markets, where the Columbia brand drove high 20 per cent constant-currency growth,” he said.

“Our strong balance sheet gives us the financial flexibility to continue to make carefully-considered long-term strategic investments to position the company to drive profitability,” he added.

Net income, after non-controlling interest, is expected to increase approximately 9 per cent, to between approximately $184 million and $191 million, in the full fiscal 2016. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search