US' Columbia Sportswear reports 22% sales rise for Q1 FY22

The net income increased 20 per cent to $66.8 million compared to net income of $55.9 million for the comparable period in 2021. The increase in net sales was due to strong consumer demand and shipments of higher spring 2022 orders, with growth across all brands, channels and geographies.

Chairman, president and chief executive officer Tim Boyle commented in a release, "Our strong financial performance in the first quarter, including 22 per cent net sales and 23 per cent diluted earnings per share growth, validates our strategies and demonstrates that our brands are resonating with consumers."

Brand-wise, sales from Sorel grew by 37 per cent to $63.6 million ($46.3 million), driving growth for Q1 FY22, while Columbia’s sales increased by 22 per cent to $643.8 million ($527.4 million). Moreover, Prana and Mountain Wear brand’s sales increased by 4 and 5 per cent, respectively.

Based on locations, the US grew 23 per cent to $501.9 followed by Latin America and Asia Pacific, which rose by 9 per cent to $ 121.7 million. Europe, Middle East and Africa reported record sales increase of 34 per cent to $94.7 million, while sales from Canada increased by 26 per cent to $43.2 million.

“Sorel led the charge with 37 per cent year-over-year growth, despite supply challenges, highlighting phenomenal demand for the brand’s year-round styles. We are confident in our ability to realise the tangible growth opportunities that we have ahead, and this confidence is reflected in our repurchase of over $200 million in common stock during the quarter,” Boyle further added.

The company expects the sales to increase 16 to 18 per cent to $3.63 to $3.69 billion in 2022 from $3.13 billion in 2021 and the net income is expected to be $363 to $382 million.

Fibre2Fashion News Desk (HO)