NEW YORK — Columbia Sportswear Co. managed double-digit gains in earnings and sales for both the third-quarter and year-to-date periods.
This story first appeared in the November 3, 2003 issue of WWD. Subscribe Today.
In the three months ended Sept. 30, income jumped 11.8 percent to $63.6 million, or $1.56 a diluted share, from $56.9 million, or $1.42, a year ago. Sales gained 12.6 percent to $373.4 million from $331.5 million.
For the quarter, the company reported sales gains across its business divisions: outerwear rose 3.2 percent to $220.9 million; sportswear skyrocketed 36.7 percent to $86 million; footwear was up 21.9 percent to $46.2 million, and accessories increased 13.2 percent to $18.9 million.
Tim Boyle, president and chief executive officer, said in a statement, “Our better-than-expected third-quarter sales and earnings resulted from exceptional sales growth in our sportswear product category, the continued development of our footwear product category and the sustained sales momentum of our brands in key international markets.
The firm raised fourth-quarter and full-year guidance based on its outlook. Fourth-quarter income is expected to grow between 4 and 6 percent, while sales are projected to gain 14 to 16 percent.
For the nine months, income shot up 19.8 percent to $87.9 million, or $2.17 a diluted share, from $73.4 million, or $1.83, last year. Sales increased 15.9 percent to $694.4 million from $599 million.