US' Columbia Sportswear's Q4 FY22 net sales reach a record $1,169.6 mn

In Q4 FY22, diluted earnings per share decreased by 15 per cent to $2.02, compared to $2.39 in fourth quarter of 2021, the company said in a press release.

Selling, general, and administrative expenses in Q4 FY22 increased 5 per cent to $405.1 million, or 34.6 per cent of net sales, from $384 million, or 34 per cent of net sales, for the comparable period in 2021.

The company’s operating income decreased 27 per cent to $155.4 million, or 13.3 per cent of net sales, compared to operating income of $211.6 million, or 18.7 per cent of net sales, for Q4 FY21. Furthermore, the net income decreased 20 per cent to $125.7 million, or $2.02 per diluted share, compared to net income of $157 million, or $2.39 per diluted share, for the comparable period in 2021.

Net sales in FY22 increased 11 per cent to a record $3,464.2 million, compared to FY21. Gross margin contracted 220 basis points to 49.4 per cent of net sales from 51.6 per cent of net sales in 2021.

Operating income in FY22 decreased 13 per cent to $393.1 million, or 11.3 per cent of net sales, compared to operating income of $450.5 million in FY21, or 14.4 per cent of net sales. Diluted earnings per share decreased 7 per cent to $4.95, compared to diluted earnings per share of $5.33 in FY21.

For FY23, the company expects net sales of $3.57 to $3.67 billion, representing net sales growth of 3-6 per cent compared to FY22. Gross margin is projected to expand approximately 60 basis points to approximately 50 per cent of net sales from 49.4 per cent of net sales in FY22. Operating income is expected to be around $413 to $448 million, representing operating margin of 11.6-12.2 per cent. Furthermore, the diluted earnings are estimated to be $5.15 to $5.55 per share.

Fibre2Fashion News Desk (DP)