Aug 3, 2021
Columbia Sportswear April-June sales exceed pre-pandemic levels
Aug 3, 2021
Columbia Sportswear Company, a specialist in active outdoor lifestyle apparel and footwear, has exceeded its expectations with 79% sales growth to $566.4m in Q2 of FY21 compared to same period of 2020. The company surpassed pre-pandemic levels with a strong performance in its US wholesale and D2C bricks & mortar businesses.
“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, said.
Gross profit for the quarter ended on June 30, surged to $292.5 million (from $146.2 million), and operating income increased to $34.9 million (from a loss of $70.3 million). Net income for the quarter expanded to $40.7 million (Q2 FY20 was a loss $50.7 million).
Geographically, sales in all the regions improved during the quarter: US sales rose 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 was 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 the 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.
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