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The U.S. headquartered outdoor sportswear specialist has posted record net sales for the fourth quarter of 2018.
In the fourth quarter of 2018, Columbia’s total net sales increased +18% (19% at constant rates) to a record US$917.6 million, while operating income increased 40% to a record US$152.8 million, representing 16.6% of net sales. Full year net sales increased 14% in 2018 to US$2,802.3 million, while operating income increased 33% to US$351 million (12.5% of net sales). Full year net income increased 155% to a record US$268.3 million.
“I'm extremely proud of the tremendous quarter and year that our teams have produced. We were able to deliver record fourth quarter and full year results that significantly exceeded our outlook, while at the same time making substantial investments in our strategic priorities including demand creation”, said Tim Boyle, President and CEO, Columbia Sportswear. The Group’s annual net sales weighted more heavily toward the autumn/winter season, while operating expenses are more equally distributed throughout the year, resulting in a highly seasonal profitability pattern weighted toward the second half of the year.
In the fourth quarter, Columbia brand net sales increased 21% to US$727.8 million, while Sorel and prAna brand sales increased +11% and +21% to US$126.9 million and US$36.7 million, respectively, and Mountain Hardwear brand net sales decreased -8% to US$26.1 million. Overall, the Group’s footwear net sales increased +16% in the quarter to US$228.8 million, and sales of clothing, accessories and equipment were up 19 % to US$688.8 million. Net sales increased across all regions; U.S. (+20%), Canada (+21%), Latin America/Asia Pacific (+16%), and EMEA (+12%).
Columbia expects full year 2019 net sales of approximately US$2.97 to US$3.03 billion, representing 6-8% net sales growth, compared with full year 2018 net sales of US$2.80 billion.