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current news

Columbia Sportswear Net Sales Increase 21%

(Filed Under Financial and General Interest News). Columbia Sportswear Company reported an increase of 21 percent in net sales in the second quarter of 2011 to reach $268 million, compared to second quarter 2010 sales of $221.8 million.

Sportswear sales grew 11.7 percent to $136.2 million and outerwear sales rose 43.1 percent to $62.1 million. Three percent of the net sales increase resulted from changes in currency exchange rates. The company additionally reported a net loss of $13.6 million, or 40 cents a share, compared with a net loss of $10.6 million, or 31 cents a share, for the same period in 2010.

"Each of our major brands generated growth in the second quarter, keeping us on pace toward our full year objectives of record sales and improved profitability," stated Tim Boyle, president and chief executive officer of Columbia. "As we head into the second half of 2011, we are confident that our product innovations and compelling marketing messages will continue to elevate our brands and drive growth."

Columbia did especially well internationally, with net sales in the Latin America and Asia Pacific region soaring 48 percent to $76.6 million and net sales in Europe, the Middle East and Africa growing 39 percent to $53.6 million, both benefited by changes in exchange rates. U.S. net sales increased 4 percent to $129 million.

The company reaffirmed its full-year outlook for net sales to increase between 14 and 16 percent and maintained its outlook for an operating margin of 7.5 to 7.7 percent.

Columbia Sportswear Company is based in Portland, Ore. and designs, sources, markets and distributes activewear, footwear and accessories.

more Financial and General Interest News >>

Published 08-04-2011 by Katherine Rautenberg

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