US: Columbia Sportswear posts wider Q2 loss
- Q2 loss widened to $13.6m from $10.6m
- Sales rose 21% to $268.0m
- Reaffirmed full-year outlook
Higher costs have offset higher sales at Columbia Sportswear Company, pushing the outdoor apparel and footwear firm to a wider second quarter loss.
“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,” noted Tim Boyle, Columbia’s president and chief executive officer.
The Portland, Oregon based company said Columbia brand sales rose 20% to $239.1m, Mountain Hardwear was up 25$ to $22.7m, and Sorel surged a 106% to $3.7m. It added that the second quarter is Columbia’s weakest, typically accounting for just 15% of annual sales.
Sales were up 4% in the US, with a jump in direct-to-consumer sales partially offset by a drop in wholesale revenues. In the Latin America/Asia Pacific (LAAP) region sales grew 48% and in Europe/Middle East/Africa (EMEA) there was a rise of 39%.
By product, sportswear sales increased 12% to $136.2m, outerwear rose 43% to $62.1m, footwear was up 29%, and accessories and equipment rose 11%.
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