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.