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Columbia Sportswear posts Q1 FY20 sales of $568 million
01 May 20 2 min read
Columbia Sportswear Company, a leading innovator in active outdoor apparel, footwear, accessories and equipment, reported 13 per cent drop in its sales to $568.2 million in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of $654.6 million. Net income for the quarter fell 100 per cent to 0.2 million (Q1 FY19: $74.2 million).
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Gross profit for the quarter were $271.7 million (Q1 FY19: 336.7 million). Selling, general and administrative expenses for the quarter were $276.8 million (Q1 FY19: $251.7 million).
Columbia brand sales fell 15 per cent to $471.7 million compared to $552.2 million in same period prior year. Sorel brand dropped 2 per cent to $38.7 million. Prana sales were $36.5 million. Mountain Hardware sales were $21. 3 million.
Sales in US decreased 9 per cent to $375.9 million (Q1 FY19: $412.2 million). EMEA (Europe, the Middle East and Africa) sales dropped 22 per cent to $55.8 million (Q1 FY19: $71.3 million). Sales in Canada were 11 per cent down to $33.9 million.
“First quarter results largely reflect the impact of the Covid-19 pandemic, which escalated throughout the quarter as the global effort to contain the pandemic unfolded,” Tim Boyle, chairman, president and chief executive officer at Columbia Sportswear, said in a press release.
It is impossible to predict when this crisis will pass, but we have weathered many storms during Columbia’s long history, and I am confident that we will get through this one as well.”
Fibre2Fashion News Desk (JL)
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