The gross margin expanded 110 basis points to a record 49.3 per cent of net sales in Q3 2019, compared to third quarter 2018 gross margin of 48.2 percent of net sales.
Operating income increased 18 percent to a record $152.0 million and operating margin expanded 60 basis points to 16.8 percent of net sales, compared to third quarter 2018 operating income of $129.1 million, or 16.2 percent of net sales.
"Record third quarter results exceeded our expectations, with broad based growth across our geographic segments, channels and product categories. During the quarter, we were able to ship a greater portion of our Fall 2019 order book compared to the Fall 2018 season as retailers restocked depleted inventory positions after harsh winter weather and exceptional sell-through in North America last year. Higher advance orders and earlier shipments contributed to 14 per cent growth for the Columbia brand and 27 per cent growth for the Sorel brand in the quarter. Sorel's impressive growth was led by strong demand for fall fashion styles, further validating the brand's success as a year-round fashion footwear brand. Our net sales growth momentum combined with Project Connect margin benefits drove earnings per share growth in excess of 20 per cent with continued investment in our strategic priorities,” said president and chief executive officer Tim Boyle of Columbia Sportswear Company.
"As we enter our peak selling season, I’m confident that our powerful brand portfolio, globally diversified business model and the dedication and focus of our talented global team position us to deliver another year of record sales and profit," added Boyle. "Our profitable growth trajectory and fortress balance sheet provide a foundation of strength and confidence from which we will continue investing in our strategic priorities to: drive brand awareness and sales growth through increased, focused demand creation investments; enhance consumer experience and digital capabilities in all our channels and geographies; expand and improve global direct-to-consumer operations with supporting processes and systems; and invest in our people and optimise our organisation across our portfolio of brands.
We are making these investments to build on our strengths as a brand-led, consumer-focused organisation and to enable sustainable long-term profitable growth."
For full year 2019, the company expects net sales of $3.01 to $3.04 billion (prior $3.00 to $3.04 billion), representing net sales growth of 7.5 to 8.5 per cent (prior 7.0 to 8.5 per cent). The net sales outlook includes a foreign currency translation impact that is anticipated to reduce net sales growth by approximately 90 basis points.
The company expects operating income of $392 to $401 million (prior $388 to $396 million), representing operating margin of 13.0 to 13.2 per cent (prior 12.9 to 13.0 per cent).
Fibre2Fashion News Desk (PC)
| On 30th Jul 2021
Looking to the post-pandemic period, a new research brief by the...
| On 30th Jul 2021
Retail sales volumes in the UK increased by 0.5 per cent in June 2021 ...
| On 30th Jul 2021
Global cotton trade is expected to rise in the coming months of 2021...
National Institute of Fashion Technology
Campus placements are low due to lockdowns
Trainers faced immense challenges as most were not tech-savvy
Blockchain is not a silver bullet for each and every problem in supply...
GoodWeave International, a nonprofit working to end child, forced and...
Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...
Yawer Ali Shah
Synthetic colours and dyes were all the rage till the very first ban on...
Garware Technical Fibres Ltd
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
MIP is a manufacturer and distributor of high-performance textiles and...
Dr Anup Rakshit
The Indian Technical Textile Association (ITTA) is the only association of ...
Twee In One
Best known for convertible clothing, Indian brand Twee In One by designer...
Designer <b>Suman Nathwani</b> talks about her journey of opening a...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.