Home / Knowledge / News / Apparel/Garments / Columbia Sportswear sales down 4% in Q3
Columbia Sportswear sales down 4% in Q3
25
Oct '13
Columbia Sportswear Company, a leading innovator in the active outdoor apparel and footwear industries, announced net sales of $523.1 million for the quarter ended September 30, 2013, a 4 percent decrease compared with net sales of $545.0 million for the same period in 2012, including a 1 percentage point negative effect from changes in currency exchange rates.

Third Quarter 2013 Highlights:

-Consolidated net sales decreased 4 percent to $523.1 million, compared with third quarter 2012 net sales of $545.0 million.
-Operating income totaled $76.9 million, or 14.7 percent of sales, compared with third quarter 2012 operating income of $87.8 million, or 16.1 percent of sales.
-Net income attributable to Columbia Sportswear Company totaled $54.6 million, or $1.57 per diluted share, compared with third quarter 2012 net income of $64.4 million, or $1.88 per diluted share. A higher effective tax rate accounted for $2.2 million, or $0.06 per diluted share, of the decline.
-The board of directors approved a 14 percent increase in the quarterly dividend to $0.25 per share, payable on December 2, 2013 to shareholders of record on November 14, 2013.

Full Year 2013 Outlook Revised Upward:

-Consolidated net sales now expected to decline up to 1.5 percent.

-Operating margin is expected to be approximately 7.25 percent, including restructuring charges incurred through September 30 and the effects of pre-operating costs and deferral of operating income related to the previously announced plan to transition to a joint venture in China on January 1, 2014. Operating margin is expected to be approximately 8.1 percent, excluding the effects of those items.

Third quarter net income totaled $54.6 million, or $1.57 per diluted share, compared with net income of $64.4 million, or $1.88 per diluted share, for the same period in 2012. A higher effective tax rate in the current quarter accounted for $2.2 million, or $0.06 per diluted share, of the decline.

Tim Boyle, Columbia's president and chief executive officer, commented, "Our third quarter results benefited from strong performance across our direct-to-consumer platform while we continue to focus on reinvigorating growth in our wholesale channels globally. A 14 percent decline in inventory levels and our continued focus on managing discretionary spending also contributed to better-than-expected profitability and cash flow during the quarter, leading us to raise our financial outlook for 2013."

"These trends are encouraging and we're very focused on several initiatives to return to growth in 2014, beginning with improved seasonal product assortments. We also expect to generate growth through our new joint venture in China, grow and expand our direct-to-consumer operations, generate growth in our North American and European wholesale businesses, and grow in key international markets served by independent distributors. We also expect to implement our new global ERP platform in the U.S. in order to improve our business processes and financial performance. With the above factors in mind, the board of directors approved a 14 percent increase in the company's quarterly dividend, bringing it to $0.25 per share from the prior $0.22 per share rate."

Click here to view full result.

Columbia Sportswear


Must ReadView All

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Apparel/Garments | On 18th Nov 2017

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Sri Lanka’s apparel exports from January to September 2017 has...

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Apparel/Garments | On 18th Nov 2017

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Bangladesh Prime Minister Sheikh Hasina has said two more leather...

ASEAN, Hong Kong sign free trade agreement

Textiles | On 18th Nov 2017

ASEAN, Hong Kong sign free trade agreement

The Association of Southeast Asian Nations (ASEAN) and Hong Kong...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Steve Cole
Xerium Technologies

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

November 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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

Yes No

Active Poll

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

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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

Yes No

Active Poll

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

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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

Active Poll

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

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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