Columbia Sportswear enjoyed record sales in the second quarter as the 80-year old brand continued to expand its global footprint.
The Portland, Oregon based company’s net sales rose 21 percent in the second quarter of the year to a record $481.6 million. Net income, meanwhile, increased to $9.7 million, or $0.14 per diluted share, compared with a loss a year earlier.
As a result, the maker of outdoor gear’s first half net sales were up by 16 percent to top the significant $1 billion mark for the first time since the company was set up in 1938, while net income hit a record $54.8 million during the same period.
Tim Boyle, President and Chief Executive Officer, put the record numbers down to “solid performance” in the U.S. across all channels, as well as strong growth internationally led by its Europe-direct business.
U.S. net sales were up 18 percent in the second quarter, while Latin America Asia Pacific and Europe Middle East and Africa saw gains of 22 percent and 26 percent respectively.
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Looking ahead, the company pushed its full-year net sale forecast from between 8 percent to 10 percent to between 9 percent and 10.5 percent. 2017 net sales totaled $2.47 billion.
“These results and updated outlook demonstrate the strength of our brands and our shift to become a more brand-led and consumer-focused organization,” said Boyle.
“Our powerful balance sheet, with $775 million in cash and short-term investments, and no long-term debt, provides the flexibility to invest in our growth initiatives as our major markets continue to evolve.”