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Columbia Sportswear Q3 net sales increase 6%

27
Oct '18
Courtesy: Colombia Sportswear
Courtesy: Colombia Sportswear
Columbia Sportswear Company, a global leader in active lifestyle apparel, footwear etc, has announced net sales of $795.8 million for the third quarter ending September 30, 2018, an increase of 6 per cent compared to $747.4 million in 2017. Third quarter 2018 net income increased 14 per cent to $100.2 million, compared to $87.7 million in 2017.
 
The non-GAAP net sales of the company were $788.9 million, an increase of 6 per cent. Non-GAAP third quarter 2018 net income increased 11 per cent to $99.3 million, or $1.41 per diluted share, compared with non-GAAP third quarter 2017 net income of $89.8 million, or $1.28 per diluted share.
 
The third quarter operating income of the company increased 5 per cent to $129.1 million, representing 16.2 per cent of net sales.
 
The year-to-date net sales increased 12 per cent (10 per cent constant-currency) to a record $1,884.7 million, while the net income increased 38 per cent to a record $155.0 million, or $2.19 per diluted share. The inventories increased 10 per cent to $617.2 million. Cash and short-term investments totaled $451.5 million as on September 30, 2018.
 
In October 2018, the board of directors approved a 9 per cent increase in the company's regular quarterly dividend to $0.24 per share.
 
"As we celebrate our company's 80th anniversary, I am delighted to mark this milestone with the strongest quarterly and year-to-date results in our company's history. While this reflects broad momentum across our brand portfolio and regions, it is exciting to see the Columbia brand US business leading the way," said president and chief executive officer, Tim Boyle.
 
"Our robust direct-to-consumer performance, across both our brick & mortar and e-commerce channels, is a testament to brand strength and demonstrates that consumers are responding positively to our innovative product line. In wholesale, the positive momentum we experienced with our Spring 2018 assortment has continued with excellent early season sell-through of our Fall 2018 product line. With better than expected quarterly and record year-to-date results, we are pleased to increase our full year outlook," he added. (PC)

Fibre2Fashion News Desk – India


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