Home / Knowledge / News / Apparel/Garments / 12 percent increase in Columbia Sportswear Spring backlog

12 percent increase in Columbia Sportswear Spring backlog

22
Oct '10
Columbia Sportswear Company, a leading innovator in the global outdoor apparel, footwear, accessories and equipment industries, announced record net sales of $504.0 million for the quarter ended September 30, 2010, a 16 percent increase compared with net sales of $434.5 million for the same period of 2009. Changes in foreign currency exchange rates did not have a material effect on the year-over-year comparison.

• Third quarter 2010 consolidated net sales increased 16 percent to a record $504.0 million, compared to third quarter 2009 net sales of $434.5 million.
• Third quarter 2010 net income increased 11 percent to $52.2 million, or $1.53 per diluted share, including a benefit of $0.10 per share from a lower income tax rate.
• The company revised its full year 2010 outlook for net sales to increase 17 to 18 percent and for operating margin to be approximately 6.2 to 6.6 percent of sales.
• Global spring wholesale backlog at September 30, 2010 totaled $394.2 million, an increase of approximately 12 percent compared with backlog of $350.8 million at September 30, 2009; consolidated wholesale backlog, which also includes fall orders, was 13 percent higher at $667.4 million.
• The board of directors increased the quarterly dividend by $0.02 per share, or 11 percent, to $0.20 per share, payable on November 24, 2010 to shareholders of record on November 10, 2010.

Third quarter net income increased 11 percent to $52.2 million, or $1.53 per diluted share, including a benefit of $0.10 per share from a lower income tax rate as a result of the recognition of tax benefits associated with statute of limitations expirations during the third quarter. The company reported net income of $46.9 million, or $1.38 per diluted share, for the same period of 2009.

Tim Boyle, Columbia's president and chief executive officer, commented, "We achieved quarterly sales of over $500 million for the first time in the company's 72-year history, highlighted by the global launch of our innovative Omni-Heat warmth technologies. During the quarter we also added another technology to our expanding platform of innovations with the acquisition of OutDry Technologies, which we plan to introduce across our brand portfolio in Fall 2011."

Boyle continued, "The increase in 2010 net sales and much of the pressure on 2010 operating margins are the result of investments we have chosen to make to claim market share; to shift our business toward more innovative and premium products; to drive consumer demand for all of our major brands, particularly the Columbia brand; and to improve business systems and processes.

"We believe we are achieving many of our goals in the marketplace, and have therefore begun to invest more heavily in our infrastructure and systems. To successfully secure market share and retail floor space for our Fall 2010 innovations, we chose to expedite manufacturing and shipping in a capacity-constrained environment, which has had a particularly pronounced impact on our 2010 profitability."


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Jul 2021

5.2 lakh Zimbabwean homes to gain from Pfumvudza cotton inputs scheme

At least 520,000 households in the marginalised zones of Zimbabwe...

Pic: Lanzatech

Textiles | On 24th Jul 2021

US' LanzaTech, Lululemon to make yarn from recycled carbon emissions

LanzaTech has joined hands with Lululemon athletica, an athletic...

Pic: HOdo Group

Apparel/Garments | On 24th Jul 2021

Chinese apparel firm HOdo exports carbon-offset clothing

Apparel brand HOdo has claimed producing and exporting China’s first...

Interviews View All

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

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


July 2021

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


Advanced Search