Columbia Sportswear logs record sales in Q1


The outdoor apparel giant beat analysts’ expectations with a 13 percent profit increase over the first quarter of 2014.

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BY JACOB PALMER | DIGITAL NEWS EDITOR

Outdoor apparel giant, Columbia Sportswear, beat analysts’ expectations with a 13 percent profit increase over the first quarter of 2014.

The reported $479 million in sales was the most the company has ever earned in any first quarter of its existence.

Columbia chief executive Tim Boyle said in a news release: “2015 is off to a strong start, building on the momentum we created in 2014 behind the Columbia, Sorel and prAna brands. We are experiencing exceptional sell-through in North America through the first half of the spring season and our European business has returned to growth. Sorel is poised for a very strong second half and full year net sales of more than $200 million, while prAna remains on pace to deliver annualized growth of more than 20 percent.”

From the Portland Business Journal

The company reported a $26.5 million profit, or $0.37 per share, a 19 percent increase from last year. Analysts forecast a profit of $0.36 per share. Operating income increased 24 percent to $44.1 million, a first-quarter record.

Like other companies with robust international sales, the strong dollar ate into Columbia’s top line. Currency exchange rates reduced sales by 4 percent. The company has been on a roll since it refocused on its core brand. In February it reported record 2014 sales.

The company adjusted upward its 2015 outlook.

OregonLive.com reports the company expects:

  • High single-digit sales growth, including approximately 4 percentage points of negative effects from changes in currency exchange rates
  • Mid-teen percentage growth in operating income, resulting in full year operating margin of approximately 10.2 percent of sales
  • Net income between $154 million and $161 million, or $2.15 to $2.25 per diluted share.

 

 

 




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