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US firm Columbia Sportswear Apr-June sales exceeds pre-pandemic levels
03 Aug 21 2 min read
Columbia Sportswear Company, an innovator in active outdoor lifestyle apparel and footwear, has exceeded its expectations with 79 per cent sales growth to $566.4 million in second quarter (Q2) of FY21 compared to same period of 2020. The company surpassed pre-pandemic levels with strong performance in its US wholesale and DTC brick & mortar businesses.
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“We eclipsed pre-pandemic first half 2019 financial results, marking an important milestone in our recovery. It is clear that our brand portfolio is resonating with consumers and we are well positioned to benefit from current consumer and outdoor trends,” Tim Boyle, chairman, president and chief executive officer at Columbia Sportswear Company, said in a press release.
Gross profit for the quarter ended on June 30, 2021, surged to $292.5 million ($146.2 million), whereas operating income increased to $34.9 million (loss: $70.3 million). Net income for the quarter expanded to $40.7 million (Q2 FY20: loss $50.7 million).
Geographically, sales in all the regions improved during the quarter: US sales boosted 107 per cent to $379.1 million ($183.2 million); Latin America and Asia Pacific grew 16 per cent to $78.0 million ($67.4 million); Europe, Middle East and Africa were up 52 per cent to $88.5 million ($58.3 million); and Canada’s sales escalated 170 per cent to $20.8 million ($7.7 million).
Sales from Columbia brand during Q2 FY21 were $484.3 million ($265.8 million), and Sorel sales were $23.1 million ($13.3 million). Moreover, Prana brand’s sales rose to $39.7 million ($27.7 million), and Mountain Hardwear sales were $19.3 million ($9.8 million).
“Overall, our Spring sell-through has been exceptional and our fall 21 and spring 22 order books point to continued momentum in the business. We are raising our full year financial outlook for 2021 despite ongoing pandemic-related supply chain disruptions and higher ocean freight costs,” Boyle added.
The company in its press release said that the timing of fall 2021 inventory receipts and wholesale shipments can have a significant impact on quarterly upcoming financial performance, and hence it expects low-20 per cent year-over-year net sales growth in second half of 2021.
Fibre2Fashion News Desk (JL)
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