The Columbia Sportswear Company, known for manufacturing and distributing outerwear and sportswear, is out with its Q4 report.
The net sales during the quarter have dropped by 4 per cent to touch US $ 915.7 million. Notably, net sales were US $ 954.9 million during the same period in the previous year (2019).
The year-over-year (Y-o-Y) operating income of the retailer too fell by 11 per cent to post US $ 123.7 million.
The net income of the retailer, during the said quarter, slumped by 16 per cent to record US $ 95.8 million or US $ 1.44 per diluted share.
Expressing delight over better-than-expected Q4 performance, Tim Boyle, Chairman, President and CEO, Columbia Sportswear Company, said that the online net sales grew by a strong 41 per cent Y-o-Y in the fourth quarter, which is about a quarter of its total sales mix.
For the entire year, the net sales fell by 18 per cent to US $ 2,501.6 million, while the operating income slid by 65 per cent to US $ 137 million or 5.5 per cent of net sales.
The net income, for the whole year, slumped by 67 per cent to touch US $ 108 million or US $ 1.62 dollars per diluted share.
Also known for head gear and ski apparels, Columbia Sportswear Company was founded in 1938.
