US: Columbia Sportswear shows Q4 sales momentum
- Q4 net profit down 7.1% to US$36.7m
- Sales rise 6% to $533.1m
- Sales in Latin America/Asia down
Columbia Sportswear recorded a 7.1% reduction in fourth quarter profit, with a small gain wiped out by a $5.6m non-cash asset impairment charge.
But sales were up 6%, leaving the company with a 1% full-year revenue gain over 2013 as a whole and annual net profit flat on an underlying basis.
The US company reported sales gains across most of its territories, including US net sales up 12%, an 11% gain in EMEA, and Canada revenues rising 16%.
But Latin America and Asia Pacific revenues were down 11%, partly because of unfavourable exchange rates.
Among its brands, Columbia posted a 7% revenue increase, while Sorel was up 17% and Mountain Hardwear down 13%.
Columbia president and CEO Tim Boyle said that 2013 had ended with “strong sales momentum”, adding: “Increased consumer demand that became evident across our US direct-to-consumer platform during the third quarter, well before seasonal weather arrived, has sustained through the fourth quarter of 2013 and into the first quarter of 2014.”
He said the company expected renewed growth in wholesale, continued expansion in direct-to-consumer and incremental contributions from its new joint venture in China.
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