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Columbia Sportswear Company Reports Second Quarter Results; Updates Full Year 2013 Sales And Earnings Outlook

Stocks in this article: COLM

Columbia Sportswear Company (NASDAQ:COLM), a leading innovator in the active outdoor apparel and footwear industries, today announced net sales of $280.5 million for the quarter ended June 30, 2013, a 3 percent decrease compared with net sales of $290.4 million for the same period in 2012, including a 1 percentage point negative effect from changes in currency exchange rates.

Second quarter net loss improved 10 percent to $7.1 million, or $(0.21) per diluted share, compared with net loss of $7.9 million, or $(0.23) per diluted share, for the same period in 2012.

Tim Boyle, Columbia’s president and chief executive officer, commented, “During the second quarter, we successfully launched our Omni-Freeze® Zero and Cool.Q® Zero active cooling technology. Sell-through of our spring season products improved as our marketing programs drove consumer awareness and warm weather arrived in key markets. Operationally, we improved our inventory flow and continued to demonstrate focused expense management.”

Boyle continued, “We also recently announced three important additions to our senior leadership team, bringing on seasoned veterans to refine and expand our global direct-to-consumer business, reenergize our North American wholesale business, and to lead our new China joint venture expected to commence in January, 2014. Each of these areas is of strategic importance in our efforts to achieve renewed sales growth from our portfolio of brands and improve profitability over the long term.”

Second Quarter Results

(All comparisons are between second quarter 2013 and second quarter 2012, unless otherwise noted.)

The second quarter is the company’s smallest revenue quarter, historically accounting for approximately 15 percent of annual net sales. As a result, regional, category and brand net sales results often produce large percentage variances in relation to the prior year’s comparable period due to the small base of comparison and shifts in the timing of shipments.

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