US: Columbia Sportswear books 8% rise in Q4 profit
- Q4 net income up 8% to $39.5m from $36.7m
- Net sales fell 5% to $501.1m from $526.1m
- Praised "diligent expense management"
Outdoor apparel and footwear firm Columbia Sportswear Company has managed to offset falling fourth quarter sales to post an 8% rise in profit.
The Portland, Oregon based company, which also owns the Mountain Hardwear and Sorel brands, said sales in the three months to 31 December, were hurt by unseasonably mild weather in North America, general consumer caution, and a more promotional environment in key markets.
This "caused higher order cancellations and fewer reorders from wholesale customers, as well as lower than expected direct-to-consumer sales, primarily in the US," the company said.
It added that $9m in factory-direct shipments of spring orders for international distributors shifted into the first quarter of 2013.
During the fourth quarter, US sales fell 7%, and a decline of 20% was seen in the Europe/Middle East/Africa (EMEA) region. This was partially offset by 6% rise in sales in the Latin America/Asia Pacific (LAAP) region, and a 5% rise in Canada.
Apparel, accessories and equipment sales were down by 2% to $392.3m, while footwear sales dropped 14% to $108.8m.
For the full year, net income fell 3% to $99.9m, down from $103.5m the year before. Net sales slipped 1% to $1.67bn from $1.69bn.
"Diligent expense management throughout the year enabled us to deliver solid results during what proved to be another year of unseasonably warm weather in North America," noted Tim Boyle, Columbia's president and chief executive officer.
"As a result, despite a slight decline in 2012 full year sales, we were able to achieve 8% operating margin, similar to 2011 operating margin of 8.1%."
In its first look at the year ahead, the company sees net sales flat with 2012 at $1.67bn, and full year operating margin of between 7.5% and 8.0% of sales. First quarter sales are also likely to be flat with the year before at $333.1m.
Outdoor apparel and footwear firm Columbia Sportswear has narrowed its second-quarter losses, after warmer weather improved sell-through of its spring merchandise....
The growing interest in nature and outdoor activities coupled with an increased awareness of the importance of maintaining a healthy lifestyle has raised the profile of the performance outdoor apparel...
Columbia Sportswear is shifting to a joint venture model in China through a partnership with distributor Swire Resources. ...
This report provides information, analysis and valuable insight on developments relating to the performance apparel industry in the following categories: acquisitions, divestments and mergers; corpora...
This report provides information on the latest developments in: antimicrobial sewing thread; carbon nanotube fibres; compression garments; environmentally friendly finishing treatments; environmentall...
This report includes new information on the latest developments in: cosmetotextiles; e-commerce technology; environmentally friendly apparel, fibres, and finishing treatments; fabrics for performance ...
This report analyzes the worldwide markets for Sports and Fitness Clothing in US$ Million by the following Product Segments: Sports Apparel, and Fitness Clothing. The report provides separate comprehe...
Clothing made from temperature control fabrics plays a critical role in boosting the physiological comfort of the wearer -- and such comfort can have a vital role to play in the performance of an athl...
- Li & Fung: China consumption to bring major change
- Innovation and e-commerce key to Nike's growth
- INTERVIEW: Crystal CEO rises to the challenges
- Opinion divided on China cotton import cuts
- Pacific Crystal Textiles gears up for production
- Addressing anaemia key to Cambodia productivity
- Chinese firm to invest in Ethiopian textile plant
- Textile value chain making Africa more competitive
- US and EU apparel groups set out stance on TTIP
- Cambodia garment worker wage talks stagnate