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 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Eric Scholler
Groz-Beckert

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Wendell Rodricks
Wendell Rodricks

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X