COLUMBIA SPORTSWEAR, HANES, DECKERS REPORT FINANCIAL RESULTS
New financial results have been reported by Columbia Sportswear, HanesBrands, and Deckers Brands.
For Hanes’ third quarter, which ended October 1, 2016, net sales increased 11 percent to $1.76 billion, driven by core organic innerwear growth and strong acquisition-related international growth. Operating profit of $228 million increased 10 percent and earnings per diluted share for continuing operations of $0.45 increased 13 percent. The company also generated a record $337 million in cash flow. However, the company also narrowed its 2016 full-year guidance to net sales of $6.15 billion to $6.18 billion.
Columbia Sportswear Company announced third quarter net sales of $745.7 million for the quarter ended September 30, 2016, a 3 percent decrease compared with net sales of $767.6 million for the third quarter of 2015. Third quarter 2016 net income totaled $83.6 million, or $1.18 per diluted share, compared to third quarter 2015 net income of $91.1 million, or $1.28 per diluted share. The combined effects of a shift in timing of shipments of U.S. wholesale advance orders and bankruptcies of certain U.S. wholesale customers during 2016 had a negative effect on comparative third quarter results.
Deckers Brands reported financial results for the second fiscal quarter ended September 30, 2016. Net sales decreased 0.2 percent to $485.9 million compared to $486.9 million for the same period last year. Operating income was $54 million compared to $51.2 million for the same period last year. Diluted earnings per share was $1.21 compared to $1.11 for the same period last year. Deckers now expects fiscal year 2017 net sales to be in the range of down 1.5 to 3 percent.
