As a result of double-digit growth in international markets, Columbia Sportswear reported an 8 per cent increase in third-quarter net sales to US $ 820.6 million.
According to the Portland, Oregon-based company, the increase in net sales was due to early shipments of wholesale orders for spring 2023 and an increase in direct-to-consumer (DTC) sales.
Sales in the US rose 3 per cent to US $ 517.5 million, while Canadian sales increased 35 per cent to US $ 58.4 million. Sales in Latin America Asia Pacific rose 12 per cent to US $ 136.4 million, and sales in Europe, the Middle East, and Africa increased 14 per cent to US $ 108.3 million.
Compared to US $ 66.8 million, or US $ 1.03 per diluted share, for the comparable period in 2022, net income decreased 31 per cent to US $ 46.2 million, or US $ 0.74 per diluted share.
“First quarter results highlight the importance and value of our diversified global business model. We were able to generate healthy net sales growth, up 8 per cent year-over-year, as consumer demand remained strong in many areas of our business,” said chairman, president, and chief executive officer Tim Boyle.
“After three years of pandemic-related supply chain constraints, it’s gratifying to see that our wholesale on-time delivery rates have returned to pre-pandemic service levels. As we look towards the summer, Columbia’s differentiated portfolio of sun protection and cooling technologies has never been stronger, including our latest innovation, Omni-Shade Broad Spectrum. We are also making targeted marketing investments across footwear and apparel, including our largest PFG campaign to date, Protect What You Love.”
In 2023, the company’s net sales are expected to increase by 3 to 6 per cent to US $ 3.57 to US $ 3.67 billion from US $ 3.46 billion in 2022.
