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Thursday, March 28, 2024

Columbia Sportswear sales drop to $317 mn in Q2 FY20

Columbia Sportswear Company, an innovator in active outdoor lifestyle apparel and footwear, reported 40 per sent sales decline to $316.6 million in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to $526.2 million in same period last year. Company incurred a net loss of $50.7 million compared to net income of $23.0 million in Q2 FY19. 

“Second quarter sales and profitability declines clearly reflect the global effects of the ongoing pandemic. A highlight was our outstanding e-commerce growth, which increased 72 per cent year-over-year,” Tim Boyle, chairman, president and chief executive officer at Columbia Sportswear Company, said in a press release. 

Gross profit during Q2 FY20 were down to $146.2 million (Q2 FY19: $253.5 million). Selling, general and administrative expenses for the quarter were $217.6 million ($240.7 million). Loss from operations were $70.3 million compared to operating income of $16.4 million in Q2 FY19.

Sales in all the geographical regions for Columbia Sportswear were down: US fell 42 per cent to $183.2 million ($315.5 million), LAAP slipped 34 per cent to $67.4 million ($101.6 million), EMEA dropped 36 per cent to $58.3 million ($91.6 million), and Canada decreased to $7.7 million ($17.5 million).

Columbia brand sales came down 42 per cent during Q2 FY20 to $265.8 million ($454.9 million). Sorel brand sales were $13.3 million ($15.1 million). Prana sales were $27.7 million ($38.7 million). 

Apparel, accessories and equipment sales during the reported quarter plunged 44 per cent to $243.8 million ($432.2 million). Whereas, footwear sales came down to $72.8 million ($94.0 million).

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