Columbia Sportswear's Q1 FY16 sees record growth

03 May '16
2 min read
Courtesy: Columbia Sportswear
Courtesy: Columbia Sportswear

Global active lifestyle apparel brands' company, Columbia Sportswear, reported record first quarter results in fiscal 2016, ended March 31, with 20 per cent rise in net income to $31.8 million ($26.5 million previously) and 10 per cent rise in net sales to $525.1 million ($478.9 million previously).

The company saw record net sales growth owing to an 18 per cent growth in net sales of its US operations, a 7 per cent growth in net sales of the Europe, Middle East and Africa (EMEA) region, and 4 per cent increase in Canada net sales.

Net income saw a record first quarter growth in FY16 owing to adoption of a newly issued accounting standard, which led to tax savings of $4.1 million or $0.06 per diluted share.

Operating income also saw a record first quarter growth of $44.3 million or 8.4 percent of net sales.

Commenting on the results, Tim Boyle, CEO of Columbia Sportswear said, “Our diverse brand portfolio drove strong growth during the first quarter, including high-20 per cent growth in our US direct-to-consumer channels and low-teen percentage growth in our US wholesale channel.”

“The Columbia, Sorel, Prana and Mountain Hardwear brands each generated double-digit percentage constant-currency net sales growth in North America. We're also extremely encouraged by our continued progress in our Europe-direct markets, where the Columbia brand drove high 20 per cent constant-currency growth,” he said.

“Our strong balance sheet gives us the financial flexibility to continue to make carefully-considered long-term strategic investments to position the company to drive profitability,” he added.

Net income, after non-controlling interest, is expected to increase approximately 9 per cent, to between approximately $184 million and $191 million, in the full fiscal 2016. (MCJ)

Fibre2Fashion News Desk - India

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,

Recommended

Advanced Search