Columbia Sportswear Company, global leader in active lifestyle apparel, footwear and accessories, has announced its financial results for the fourth quarter of the financial year 2016. In the period under consideration, the company noted an increase of 3 per cent in net sales to US $ 717.4 million compared to US $ 699.4 million in the previous year, driven by increase of 2 per cent net sales in the US to US $ 455.4 million, 20 per cent net sales increase in the EMEA region to US $ 70.1 million and 1 per cent net sales increase in LAAP region to US $ 151.9 million.
The company’s operating income increased 22 per cent to record US $ 100.4 million. Net income in this period soared 34 per cent to US $ 84.7 million compared to last year’s US $ 63.4 million. The sportswear retailer generated gross profit worth US $ 337.6 million as against previous year’s US $ 316.9 million.
In the full year results, net sales amounted to US $ 2.38 billion, up by 2 per cent. Operating income increased 3 per cent to US $ 256.5 million which was US $ 249.7 million last year. In the reporting period, net income of the company totalled US $ 191.9 million, noting a surge of 10 per cent. Gross profit in this period stood at US $ 1.11 billion compared to US $ 1.07 billion in the prior year.
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Tim Boyle, Chief Executive Officer, Columbia Sportswear commented, “We are very proud of our fourth quarter and full year 2016 performance against a challenging backdrop in many of our largest markets. We are particularly encouraged by the strong results we achieved in our Europe-direct markets. Our 2017 outlook anticipates up to 4 per cent earnings growth on 4 per cent net sales growth, driven by contributions from three of our four brands and all four of our geographic regions. Our goal is to ensure that our business is aligned and organized to successfully execute our strategic plan. We remain confident in our ability to continue to drive sustainable profitable growth through our powerful brand portfolio.”
