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

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Stefano Gallucci (left), CEO, Santex Rimar Group, and Tamer Hasbay, President, Has Group; Courtesy: Santex Rimar

Textiles | On 24th Jan 2017

Santex Rimar to market all Has products globally

Italy based Santex Rimar Group has signed an agreement with Turkey...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kevin Nelson
TissueGen

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ritu Kumar
Label Ritu Kumar

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
January 2017

January 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