Columbia Sportswear sales drop to $317 mn in Q2 FY20

05 Aug '20

2 min read

Pic: Columbia Sportswear Company

Columbia Sportswear Company, an innovator in active outdoor lifestyle apparel and footwear, reported 40 per sent sales decline to $316.6 million in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to $526.2 million in same period last year. Company incurred a net loss of $50.7 million compared to net income of $23.0 million in Q2 FY19.

“Second quarter sales and profitability declines clearly reflect the global effects of the ongoing pandemic. A highlight was our outstanding e-commerce growth, which increased 72 per cent year-over-year,” Tim Boyle, chairman, president and chief executive officer at Columbia Sportswear Company, said in a press release.

Gross profit during Q2 FY20 were down to $146.2 million (Q2 FY19: $253.5 million). Selling, general and administrative expenses for the quarter were $217.6 million ($240.7 million). Loss from operations were $70.3 million compared to operating income of $16.4 million in Q2 FY19.

Sales in all the geographical regions for Columbia Sportswear were down: US fell 42 per cent to $183.2 million ($315.5 million), LAAP slipped 34 per cent to $67.4 million ($101.6 million), EMEA dropped 36 per cent to $58.3 million ($91.6 million), and Canada decreased to $7.7 million ($17.5 million).

Columbia brand sales came down 42 per cent during Q2 FY20 to $265.8 million ($454.9 million). Sorel brand sales were $13.3 million ($15.1 million). Prana sales were $27.7 million ($38.7 million).

Apparel, accessories and equipment sales during the reported quarter plunged 44 per cent to $243.8 million ($432.2 million). Whereas, footwear sales came down to $72.8 million ($94.0 million).

“As of today, nearly all of our global store fleet is open. We remain acutely focused on cost containment while also continuing to invest in our strategic priorities,” Boyle said.

Fibre2Fashion News Desk (JL)

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