Net sales of the company increased 8 per cent to $1,180.8 million in H1 2019, compared to $1,088.9 million for the comparable period in 2018, said Columbia Sportswear in a media statement.
“2019 is shaping up to be another great year for Columbia Sportswear company. Momentum across our diverse brand portfolio, distribution channels and regions along with Project Connect financial benefits fuelled record second quarter and first half financial performance. The Columbia brand generated double-digit constant-currency growth in the quarter and the first half of the year, led by US wholesale and direct-to-consumer performance. Sorel’s progress towards becoming a year-round brand is evident in the success of Spring 2019 styles, which contributed to greater than 30 per cent constant-currency growth in the quarter and first half of the year. After several challenging years, Mountain Hardwear generated double-digit constant-currency growth in the quarter and is poised for continued growth in the second half of the year, said president and chief executive officer Tim Boyle.
“As we enter the second half of 2019, our brand, channel, geographic and supply chain diversification positions us for continued profitable growth despite global economic and trade uncertainty. Our first half results, Fall 2019 advance orders and current business momentum position us to deliver another record year of growth and profitability.”
“Our profitable growth trajectory and fortress balance sheet, with cash and short-term investments of over $500 million and no long-term debt, provide a foundation of strength and confidence from which we will continue investing in our strategic priorities,” added Boyle.
For the full year of 2019, the company expects the net sales to be in range of $3—$3.04 billion representing net sales growth of 7—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. (PC)
Fibre2Fashion News Desk – India
| On 28th Sep 2021
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