Columbia Sportswear Q3 sales up on strong international sales, solid U.S. market
Columbia Sportswear announced on Thursday net sales increased 8 percent to $820.6 million for the third quarter, on the back of double-digit growth in the company's international markets.
The Portland, Oregon-based company said the quarterly increase in net sales came on the back of a earlier shipment of spring 2023 wholesale orders and direct-to-consumer (DTC) growth.
Domestic sales lifted 3 percent to $517.5 million, while Canadian sales surged 35 percent to $58.4 million. Elsewhere, Latin America Asia Pacific sales grew 12 percent to $136.4 million, and Europe, Middle East and Africa sales lifted 14 percent to $108.3 million.
Net income decreased 31 percent to $46.2 million, or $0.74 per diluted share, compared to net income of $66.8 million, or $1.03 per diluted share, for the comparable period in 2022.
“First quarter results highlight the importance and value of our diversified global business model. We were able to generate healthy net sales growth, up 8 percent year-over-year, as consumer demand remained strong in many areas of our business," said chairman, president and chief executive officer Tim Boyle.
"After three years of pandemic related supply chain constraints, it’s gratifying to see that our wholesale on-time delivery rates have returned to pre-pandemic service levels. As we look towards the summer, Columbia’s differentiated portfolio of sun protection and cooling technologies has never been stronger, including our latest innovation, Omni-Shade Broad Spectrum. We are also making targeted marketing investments across footwear and apparel, including our largest PFG campaign to date, Protect What You Love."
Looking ahead, the company's full-year 2023 net sales are expected to increase 3 to 6 percent to $3.57 to $3.67 billion from $3.46 billion in 2022.
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