NEW YORK — A 6.8 percent decrease in Columbia Sportswear Co.’s third-quarter profits was good enough to beat analysts’ estimates, and the company backed the effort with a boost in its full-year outlook despite declining sales.
Crediting improved gross margins from footwear and sportswear, as well as cost-saving initiatives, the Portland, Ore.-based outerwear and sportswear company posted net income of $58.3 million, or $1.69 a diluted share, versus profits of $62.6 million, or $1.72 a diluted share, in the year-ago period. Net sales were down 4 percent to $452.4 million from $471.1 million. Wall Street expected earnings of $1.40 on revenues of just under $450 million, according to Yahoo Finance.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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