Columbia Sportswear Company recorded a 13 per cent decrease in their revenue for the first quarter. Their gross margin also took a hit, falling down to 47.8 per cent from 51.4 per cent of Q1 last year.
The company has blamed the effects of COVID-19 including supply delay as well as drop in the consumer demand for the loss in revenue. According to their financial report, net income amounted to just US $ 200,000 from last year’s US $ 74 million.
However, the company mentions that once a relatively stable state is reached, the company revenue will rise up too. Loss of consumer demand was recorded since late January when many Chinese cities and states were locked down, which prompted a drastic fall in sales contribution from China.
Korea and Japan followed as the countries imposed lockdown with North America and Europe quickly joining the line.
The company has suspended cash dividends indefinitely and will be working on maintaining financial stability.
Bharat Tex Special Report 2026 
