COLUMBIA SPORTSWEAR REPORTS RECORD SALES FOR 2015

by Brian Lipton Feb 12, 2016

Columbias-New-York-Store.jpgColumbia Sportswear Company has announced that 2015 net sales increased $225.6 million, or 11 percent to a record $2.33 billion, while operating income increased 26 percent to a record $249.7 million, representing operating margin of 10.7 percent compared with operating margin of 9.5 percent in 2014. Full year 2015 net income, including five months of incremental results from the prAna brand, increased 27 percent to a record $174.3 million, or $2.45 per diluted share, compared with full year 2014 net income of $137.2 million, or $1.94 per diluted share.

Fourth quarter net sales of $699.4 million for the period ending December 31, 2015, also set a record with a 3 percent increase in net sales over the fourth quarter of 2014. Fourth quarter 2015 operating income increased to a fourth quarter record $82.3 million. Fourth quarter 2015 net income also set a record as it increased 14 percent to $63.4 million, or $0.90 per diluted share,, compared with fourth quarter 2014 net income of $55.6 million, or $0.79 per diluted share.

“2015 was another outstanding year for Columbia Sportswear Company,” said CEO Tim Boyle. “Record net sales, record operating income, expanded operating margin, and record net income validate that our strategies are driving growth and improved profitability. We had high expectations entering the year and are encouraged that we exceeded those expectations despite unseasonably warm weather, macroeconomic challenges, and currency headwinds in many of our key markets. We believe this illustrates that active consumers appreciate the versatility and relevance of our brands, each offering products that connect them with their passions year-round in all weather conditions.”

As for the coming year, Boyle added: “Looking forward to 2016, our balance sheet gives us the financial flexibility to continue to drive sales growth, expand gross margins, increase brand awareness through investments in demand-creation, and prioritize SG&A investments strategically to further strengthen our brands and improve profitability.”