Columbia Sportswear posts Q4 FY20 sales of $916 mn

Columbia Sportswear Company, an innovator in active outdoor lifestyle apparel and footwear, reported 4 per cent sales decline to $915.7 million in its fourth quarter (Q4) FY20 ended on December 31, 2020, compared to sales of $954.9 million in the same period prior fiscal. Net income for the period fell 16 per cent to $95.8 million (Q4 FY19: $114.0 million).

 

“I’m encouraged to see better than expected fourth quarter results and broad-based momentum across our powerful brand portfolio as we begin 2021,” Tim Boyle, chairman, president and chief executive officer at Columbia Sportswear Company, said in a press release.

 

“E-commerce net sales grew an impressive 41 per cent year-over-year in the quarter, representing nearly a quarter of our total sales mix. With strong fall 2020 sell-through rates, our wholesale partners are well positioned to exit the season with clean inventory positions,” Boyle said.

 

Gross profit for the quarter came down to $463.0 million ($478.6 million). Selling, general and administrative expenses were stagnant at $343.2 million ($344.4 million). Company’s income from operations for Q4 FY20 was $123.6 million ($138.6 million).

 

Except Canada, sales in all the geographical regions for the fourth quarter were down: US sales fell 6 per cent to $599.1 million ($634.0 million), LAAP dipped 5 per cent to $163.6 million ($171.6 million), EMEA sales fell 14 per cent to $85.6 million ($99.8 million), whereas Canada sales jumped 36 per cent to $67.4 million ($49.5 million).

 

During the quarter, Columbia brand’s sales came down 7 per cent to $699.7 million ($751.1 million). Whereas, Sorel’s sales were 5 per cent to $150.0 million ($143.5 million) and Prana’s sales rose 11 per cent to $36.9 million ($33.1 million).

 

“As we begin 2021, there is continued uncertainty and business risks surrounding the ongoing pandemic, including the timing and effectiveness of global efforts to contain the spread of Covid-19,” Boyle said in the release.