Columbia Sportswear, the outdoor apparel company based in Portland, Oregon, reported a 3 percent increase in net sales for the third quarter of 2023, totaling $985.7 million. The growth was driven by both the company's wholesale and direct-to-consumer (D2C) channels.
Columbia Sportswear, the outdoor apparel company based in Portland, Oregon, reported a 3 percent increase in net sales for the third quarter of 2023, totaling $985.7 million. The growth was driven by both the company's wholesale and direct-to-consumer (D2C) channels.
Wholesale sales rose 3 percent, due to earlier shipments of fall 2023 orders, while D2C sales increased 4 percent, with Canada, Europe and China markets leading the way. Columbia brand sales grew 4 percent to $804 million, while Sorel sales were up 9 percent to $122 million. However, PraNa and Mountain Hardwear sales decreased 18 percent and 9 percent, respectively.
Net income for the quarter decreased 7 percent to $103.5 million, or $1.70 per diluted share, compared to the same period in 2022.
Tim Boyle, Chairman, President and Chief Executive Officer of Columbia Sportswear, commented on the results: “Third quarter performance was led by international-direct markets, with Canada, Europe-direct and China all delivering over 20 percent year-over-year growth in constant currency. In the U.S., the marketplace remains challenging, but we are making meaningful progress on our inventory reduction plan, with inventory exiting the quarter down 16 percent year-over-year. As we enter our peak selling season, we have numerous activations across our brand portfolio to engage consumers and drive sales, including product collaborations, pop-up shops and continued momentum in Columbia’s omni-heat infinity collection.”
Columbia Sportswear's third quarter results come as the company continues to expand its presence in international markets. The company has opened new stores in China, Europe, and Canada, and has seen strong growth in its direct-to-consumer sales in those regions. Columbia Sportswear is also investing in product collaborations, pop-up shops, and its omni-heat infinity collection to engage consumers and drive sales.
The company's third quarter results are a positive sign for the outdoor apparel industry, which has been hit hard by the pandemic. Columbia Sportswear's focus on international markets and direct-to-consumer sales has helped the company weather the storm and continue to grow.
Sources: https://us.fashionnetwork.com/news/Columbia-sportswear-q3-sales-up-3-percent-on-d2c-international-markets,1570978.html
