Columbia Sports Brand Profits Rose 20% In The First Quarter

For the clothing market, it has just passed a peak season. In the past quarter, the profit of sports brand Columbia increased by 20%.

Outdoor sports brand Columbia has released its first quarter sales record, exceeding analysts' earnings expectations.

Net profit rose 20% to $31 million 800 thousand in the quarter and diluted 45 cents per share, exceeding the 33 cents earnings forecast of analysts at FactSet.

The first three months ended March 31st.

Sales recorded a 10% increase, or $525 million, breaking the sales record, which was $479 million in the same period last year, exceeding the expected sales of FactSet analysts for $494 million, and the company's operating cash flow in the quarter was $97 million.

CEO Tim Boyle of Columbia points out that the diversified brand portfolio of the company has driven the strong sales in the first quarter, while the direct selling channel sales in the US region have soared by 20%, and the wholesale channel has also increased.

Its brands include Columbia, Sorel, prAna and Mountain Hardwear in double-digit growth in the US region.

Sales in the US, Europe, Africa and the Middle East have increased, but sales in Latin America and Asia Pacific have been declining.

Sorel brand global sales increased by 35%, prAna brand global sales increased by 12%, gross margin declined slightly from 47.8% in 2015 to 47.1%.

Company officials revealed that the company plans to raise gross margin by 30 basis points this year. The net sales growth target is planned in the median, net profit is expected to be between $184 million and $191 million, diluted earnings per share 2.60 to 2.70 dollars.

It is revealed that the company's strong assets and liabilities make it more conducive to the long-term development of the company and enhance its profitability.

Columbia has risen 11% in the past six months, and yesterday's stock price closed at $61.33.