Home / Knowledge / News / Apparel/Garments / Columbia Sportswear sales soar 12% in Q1 2018
Columbia Sportswear sales soar 12% in Q1 2018
30
Apr '18
Courtesy: Columbia Sportswear Company
Courtesy: Columbia Sportswear Company
The net sales of Columbia Sportswear Company for the first quarter of fiscal 2018 has climbed12 per cent (8 per cent constant-currency) to $607.3 million, compared with net sales of $543.8 million for the first quarter of 2017. The company's non-GAAP net sales of $599.0 million increased 10 per cent (7 per cent constant-currency) for the reported period.

In the first quarter of 2018, net income increased 25 per cent to a record $45.1 million, or $0.64 per diluted share, compared with the net income of $36.0 million, or $0.51 per diluted share in the first quarter of 2017. Non-GAAP first quarter 2018 net income increased 48 percent to $54.5 million, or $0.77 per diluted share, compared with non-GAAP first quarter 2017 net income of $36.9 million, or $0.52 per diluted share.

"We are pleased to report better than expected first quarter net sales and profitability led by strength in our direct-to-consumer businesses, growth in our wholesale businesses, including a return to growth in U.S. wholesale, and the favorable effect of strengthening foreign currencies relative to the U.S. dollar. Gross margin exceeded expectations, and we maintained SG&A discipline while continuing to invest in our strategic priorities," president and chief executive officer Tim Boyle said.

The company's operating income was recorded at $59.3 million, or 9.8 percent of net sales, increased 24 per cent compared to operating income of $48.0 million, or 8.8 percent of net sales, in the first quarter of 2017. Non-GAAP foperating income increased 43 per cent to $70.3 million, or 11.7 percent of net sales, compared to non-GAAP operating income of $49.3 million, or 9.1 percent of net sales, in the first quarter of 2017.

"First quarter 2018 net sales and earnings results, as well as healthy advance orders for Fall 2018 across our regions demonstrate the power of our global brands and our initiatives to become a more brand-led and consumer-focused organization. Our powerful balance sheet, with $808.2 million in cash and short-term investments, and no long-term debt, provides the flexibility to invest in the business as our major markets evolve," added Boyle.

The company currently expects 2018 net sales growth of approximately 8.0 to 10.0 per cent (prior 5.5 to 7.5 percent), compared with 2017 net sales of $2.47 billion. The company expects non-GAAP net sales growth of approximately 6.5 to 8.5 per cent (prior 4.0 to 6.0 percent) which excludes approximately $40 million in net sales associated with the new revenue accounting standard.

The company expects 2018 net income between approximately $213 million and $220 million (prior between $203 million and $211 million), and non-GAAP net income between approximately $231 million and $238 million (prior between $224 million and $231 million), or diluted earnings per share between approximately $3.01 and $3.11 (prior between $2.88 and $2.98), and non-GAAP diluted earnings per share between $3.27 and $3.37 (prior between $3.17 and $3.27).

"We are also pleased to increase our full year 2018 financial outlook as a result of better than expected first quarter net sales and profitability, higher than initially planned Fall 2018 advance wholesale orders, including continued improvement in U.S. wholesale net sales across all of our brands, and the favorable effect of strengthening foreign currencies relative to the U.S. dollar. When considering our plans for the balance of the year, we have made the decision to accelerate investment in our strategic priorities," concluded Boyle. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Sales tax reduced for Pak textile, leather sectors

Textiles | On 20th Nov 2018

Sales tax reduced for Pak textile, leather sectors

Pakistan’s Federal Board of Revenue (FBR) recently issued procedure...

US may include RMG in revised duty free Nepali items list

Apparel/Garments | On 20th Nov 2018

US may include RMG in revised duty free Nepali items list

The United States is interested to revise the list of Nepali products ...

Courtesy: Microsoft

Information Technology | On 20th Nov 2018

Gap partners with Microsoft for digital transformation

Gap has established a strategic partnership with Microsoft to drive...

Interviews View All

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Vikram Saria,

Vikram Saria

Shanghai-based Aura Designs Ltd is a leading manufacturer of textile and...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search